'Stavros' pid='25818' datel Wrote:SO MR KEREKESC, YOU SAY PETER IS A DISGUISED SHORT AND HIS WRITING IS NOT REPRESENTATIVE OF A LOGICAL MINDED SCIENTIST. WHAT ARE YOU SMOKING? THIS GUY MAY HAVE BEEN A SHORT; IF SO, HE CHANGED HIS MIND BIG TIME. LET’S LOOK AT SOME OF HIS STATEMENTS. PETER: InterOil Board has to be commended, they did extremely well by bringing on board Dr Hession, who’s experience in the industry, region and finance is admirable. MY COMMENT: SHORTS ARE NOT SAYING THIS. THEY SAY DR. HESSION FAILED AT BROWSE AND GOT FIRED. PETER: Dr Hession is a Geologist/Geophysicist by background. That brings a very high level of confidence to the table when we are dealing with a run-away beast like Elk-Antelope Field. MY COMMENT: PHIL MULACEK WAS CHARACTERIZED AS A SHILL AND THAT E/A IS NOT A LARGE FIELD. THE SHORTS SAY IT WILL BE RUN DOWN IN PRESSURE SOON AFTER PRODUCTION BEGINS. DR. HESSION, ACCORDING TO PETER, WILL BE CREDIBLE IF HE STUDIES THE DATA AND THEN SAYS E/A IS A MONSTER. PETER: I am sure; with his background Dr Hession must be very excited about the overall geoscience enigma that surrounds the Elk-Antelope Field. It is reported as a reefal/fractured carbonate play system that is set to produce at record production rates. Compounded with another set of uncertainties as it is a very rich condensate field with potential oil leg somewhere up there in Kerema country. This is the story that has been told and this is the story we know now. MY COMMENT: WE TAKE IT FOR GRANTED THAT ELK/ANTELOPE IS A HUGE FIELD THAT WAS JUST SITTING THERE WAITING TO BE TAPPED INTO. WE SOMETIMES FORGET THAT THE BIG OIL COMPANIES NEVER RECOGNIZED ITS POTENTIAL BECAUSE THE GEOLOGY IS VERY UNUSUAL. IT TOOK PHIL MULACEK AND HIS TEAM TO STEP OUT OF THE BOX AND IDENTIFY THE TRUE VALUE. IN ADDITION, PHIL HAS ALWAYS FELT THAT E/A HAS OIL DOWN THERE; PETER BASICALLY STATES THERE’S A GOOD CHANCE TO FIND OIL. PETER: I think companies like ExxonMobil and Oil Search have now found their match in manpower edge, pitch Dr Hession and Keli Taureka together. I would say, InterOil now stands tall above Oil Search. MY COMMENT: I HAVEN’T UNTIL NOW SEEN ANYONE IN PNG STATE THAT IOC IS NOW HELD IN HIGHER ESTEEM THAN OIL SEARCH! THIS IS A VERY IMPORTANT STATEMENT FROM SOMEONE WHO LIKELY REPRESENTS THE FEELINGS OF MR. DUMA. PETER: Dr Hession has two immediate tasks to accomplish amongst others: MY COMMENT: CAN'T ARGUE HERE; MANY TASKS TO UNDERTAKE PETER: Number 1: Dr Hession has to bring in reputable and recognized industry experts to properly certify the reserve and resource numbers at Elk-Antelope. That may require a few more wells? A few more seismic lines? MY COMMENT: IOC LONGS STILL THINK THE GLJ NUMBERS ARE GOSPEL. Y’ALL NEED TO WAKE UP AND REALIZE THAT THE INDUSTRY EXPERTS ARE DEMANDING THE ADDITIONAL WELLS THAT GCA SAYS ARE REQUIRED TO CONFIRM GLJ’s ESTIMATES. XOM CLEARLY FEELS THE SAME WAY AND INSISTED ON MORE WELLS; IOC AGREED WITH THE XOM REQUIREMENT AND FORCED XOM TO PAY FOR THE WELLS. PETER: Number 2: InterOil Dataroom….yes the dataroom of InterOil is said to be below acceptable international standard. Why was that?...is a question past management was not able to address. Now I believe Dr Hession is the right man to make that dataroom presentable and ACCESSABLE to other interested parties like ExxonMobil and others. MY COMMENT: I HAVE DONE DUE DILEGENCE FOR SEVERAL PETROCHEMICAL COMPLEXES/PROJECTS RECENTLY. THE QUALITY OF THE DATA ROOM VARIES DEPENDING ON THE CARE AND EFFORT PUT IN BY THE OWNER TO CREATE THE ELECTRONIC WORK SPACE. I WAS TOLD BY SEVERAL OTHER PEOPLE WITH KNOWLEDGE OF THE IOC DATA ROOM THAT IT WAS BELOW TOP NOTCH. SO PETER’s STATEMENT THAT “IT IS SAID TO BE BELOW ACCEPTABLE IONTERNATIONAL STANDARD” IS AN ACCURATE REPRESENTATION. XOM IN FACT RECENTLY SENT A DELEGATION TO THE FIELDS TO GATHER INFORMATION ON THEIR OWN TO FILL IN THE MISSING GAPS. I WAS TOLD THAT THEIR DD WENT WELL. PETER GOES ON TO SAY THAT THE DATA ROOM SHOULD BE IMPROVED FOR OTHER INTERESTED PARTIES. HE DOESN’T SAY IT MUST BE IMPROVED FOR XOM’s USE AS YOU IMPLY MR. K. PETER: Then there is the issue of Triceratop, that is another challenge that awaits Dr Hession, but I believe he has time to work that out. MY COMMENT: IF YOU DON’T THINK THAT TRICERATOPS IS A CHALLENGE THEN YOU ARE ALSO SNORTING. PETER: Of course apart from that he has to deliver the Gulf LNG…how that is structured and presented to PNG and the world at large can take a few months or …just might take a few years. MY COMMENT: THIS CONFIRMS OUR CONTINUED SPECULATIONS THAT THERE WILL BE A PARALLEL GULF LNG PROJECT AND THAT PNG FOLKS REALIZE THAT IT MAY BE VERY SOON DEPENDING ON WHETHER IOC IS ALLOWED TO PARTNER WITH EWC OR NOT. PETER: Congratulations to InterOil Board for bring on board Dr Hession. And to Dr Hession, PNG has long been called; “the land of the unexpected”, welcome to PNG, you shall soon find out for yourself. MY COMMENT: SPOT ON!!!!!
First, and most importantly, no, I never stated, nor implied, that Peter, the PNG Geologist, is a "disguised short!" You are fabricating this to suit your "drivel"! And secondly, I merely pointed out three instances where Peter, the PNG Geologist, made statements which indicated (at best) he does not know what he is talking about. And, he did not give specifics to back up his assertions. As a result, I concluded that he, as a PNG Geologist, is "not a logical minded scientist."
You, on the other hand, it seems to me, feel personally abused by my post. This was far from my intention. Your extensive and detailed reply, however, is riddled with broad statements qualified by "basically states", "likely represents", "y'all need to wake up", "I have been told by several knowledgable individuals", etc, etc, etc. Not very convincing in my opinion. Finally, I did not "imply that data room must be improved for XOM" as you state. Peter, the PNG Geologist, said "... to make that dataroom presentable and ACCESSABLE to other interested parties like ExxonMobil and others." I merely opined that XOM and others, who signed the CA's of course, had access to the dataroom! Nor did I not make any mention of Triceratops in my post!
So, dear Stavros, vent your pent-up frustrations on someone else. I do not "smoke", nor do I "snort." Perhaps these disagreeable habits caused you to engage in such unwarranted "drivel."