'CAC' pid='28161' datel Wrote:
'admin' pid='28152' datel Wrote:The nefarious thing in this kind of post is actually what isn't said, but implied. The implicit argument here is that since IOC hasn't been able to close a deal, something must be wrong with the resource, it isn't what it's supposed to be. If they make the argument explicit, it's up for testing, and one can burry it with independent resource evaluations, independently produced well data and the fact that no credible party has put forward a credible argument against these.*********
I agree with your proposition that past failures to get a deal done don't allow one to conclude that IOC won't get a deal done now. However, conversely, I think that past performance can be a fair tool in analyzing what might happen. If nothinbg else, in my mind it does speak to "credibility" to some degree.
I think the motivation for the story is less than pure, and it seems that these SA articles are having little or no effect on PPS these days...but I actually agree with the underlying concept. IOC has been talking about a deal...and working towards a deal...and in some respects telling us a delay was close...for a very long time...without delivering. There are lots of supportive explanations (some legitimate and some "rose-colored"
for why the delays are understandable, but at some point isn't it fair to grade IOC on a pass-fail system? Either they've succeeded...or they've just "tried hard". I'm sick of hearing about how hard they have tried (and are trying). It's time for them to get it done.
I agree with the sentiment. Articles from Motley Fool and Seeking Alpha like this do not do anything. We have all lived with what was in today's article, it is just a little painful to see it all at once right there in black and white. We do not need to be reminded or taunted as such. I prefer my Interoil frustration in small bite size chunks. It allows me to keep my belief in the resources and block out the noise. I also am quite excited about Michael Hession. But Phil Mulacek deserves huge credit also. Let's not forget that.