[quote='Hoosier1' pid='26809' dateline='1375999155']
I'll put my two cents into this discussion...since I have previously espoused time as an important variable.
I fear using an analogy of another exploration company (in a different sector) since analogies are imperfect and can be picked apart... but here goes anyway.
I know of another mining exploration company that was headed up by the "Mining Man of the Year"... found great prospects... ponied up and went out drilling.... Found exceptional results... the concession was touted as one of the best finds ever... the company kept drilling and kept getting great results... slowly they acrrued 43-101 recordable reserves, probable and inferred resources... had known "verbal" offers for the company... the sector was running high... all of the "majors" were gobbling up the junior explorers... this company was expected to get plucked & it all was good...but the company waited... they could get more... and we waited and waited and waited... company stops drilling because they have booked more reserves then needed to be acquired... exceptional grades, and quantity, and obviously they was more & all was good... the company was in informal talks.... but we waited...and waited...and waited... supposedly go into exclusive negotiations and all was good... but we waited and waited.... mean while, the market started changing, dropping, economy changing, majors catching heat from big buyouts of the minor explorations... and so we waited... To end this drama, the company is sitting on resources, recordable - balance sheet resources...still one of the best finds for its sector... and they are being taken over for mere pennies.
The above actual example has more differences to it than similarities... the greatest being it's a larger corporation with competent management
My main point here is that you can wait too long & I really do not like that IOC has stopped drilling.
Things that can happen to IOC (possible but maybe not probable):
- We have another earthquake of such a magnitude that it destroys Exxon's PNG LNG facility and most of Port Moresby
- O'Neill has an unfortunate car wreck, claiming his live... and Duma garners emough support to be elected temporary PM
- ...you see my point
With a supposed deal in play, the more time passes, the higher the probability of a negative outcome creeps in.
Time to... Get'r Done Boys!!!
++++++++++++++
Wise indeed, Hoosier.