08-19-2013, 09:53 PM
'ArtM72' pid='27449' datel Wrote:Blair Price's points were all well taken I thought. He certainly seems to value his reputation. In my mind he also has the right to identify and maintain the anonymity of sources that he believes to provide good information and/or valuable insight. As to his criticism of some of the rest of the media, I'd agree with that as well. In far to many organizations the reported news isn't the result of a search for the truth of what happened. Rather, it is a cost center competing for the entertainment dollar, viewing the hard work of story confirmation as an unnecessary burden on the corporation's bottom line.
Yes Price's points can be well taken but he was derelict in his reporting - again. He tries today to weasel out of responsibility. Price's explanation of Friday's events fall short of intended self exoneration. He solely was responsible for the chain reaction his article set in motion. Schwab's alerts and this Reuters article carried much market weight and their existence are compliments of Price's ambiguous, at best, report. Perhaps we get a Reuters correction - update today.
Talks fail between Exxon, InterOil for stake in Papua New Guinea fields - report
Fri Aug 16, 2013 11:25am EDT
Aug 16 (Reuters) - Shares of InterOil Corp fell 6 percent after a news website said the company's negotiations with Exxon Mobil Corp to develop liquefied natural gas fields in Papua New Guinea ended without a deal.
Exxon, the world's largest publicly traded oil company, failed to close a deal to buy into InterOil's license in Elk and Antelope fields, PNG Industry News reported on Friday, citing sources. ()
InterOil was in talks to sell a stake in its license to ExxonMobil Papua New Guinea Ltd, potentially expanding Exxon's $19 billion Papua New Guinea liquefied natural gas (PNG LNG) project.
Exxon spokesman Patrick McGinn told Reuters the company does not comment on commercial discussions. InterOil could not be reached for comment.
Queensland, Australia-based InterOil received the license in November 2010, which covers nine blocks surrounding the Elk and Antelope fields. The company has petroleum licenses covering about 3.9 million acres in the country.
The talks also included funding of InterOil and its partner Pacific LNG to drill additional delineation wells in the fields.