'Gator' pid='27101' datel Wrote:If someone asks a question on the call (they don't let just anyone ask questions) and the CFO ducks it, I think it is a problem. Add in the fact that InterOil didn't release the earnings on the correct day, and the fact we are 81 days into exclusive talks after "we should know more in 60 days" are all reasons for InterOil to be worth $400 million less today than yesterday. Big drops on heavy volume rarely occur on good news.
Maybe, but if you read this:
http://www.wsgr.com/attorneys/BIOS/PDFs/bochner0308.pdf,
you get an idea of the issues involved around the legalities of quarterly earnings releases and CCs. Look especially at page 8, Exhibit 1—Schedule of Actions for Earnings Release. It gives a real flavor for what goes on behind the scenes in getting earnings out. And the document after that discusses different legal pitfalls of CCs and calls with individual investors. Management most of the time would love to "tell all", but we've been on the end of that too. Things don't go as planned and the pps tanks. "Tell it when it's legally required" is how I think we will have things going forward. That's the way Exxon works, and I think that's what we'll see with IOC from here, especially in their dealings with bigs like Exxon. The good thing is big pops are more likely to happen when things are handled this way. No matter which way they go they get heat, so better to underpromise and overperform.