The short echo chamber

[arthurbell]

I broke my rule with SA to quickly see his arguement. For him to post this on SA is showing a bit of desperation IMHO. Then he states a still 50% that there is no commercial gas in PRL15 and says, "Big companies make dumb decisions all the time." and that either HE is right or Total as one of the biggest O&G companies in the world is wrong. Problem is it's not just Total saying there is commercial gas there. One could argue that, "Well look at what Total did with OSH. OSH so far has found nothing." Big difference. IOC HAS drilled BEFORE Total has come in. IOC HAS had the resource certified by GLJ (a very good company in Bonk's own words), and by GCA and by many industry experts that Hession asked to independently look at the data. These experts' opinion as well as Hession's? This is one of the largest finds in the Asia/Pacific in the last 20 years." So it's not just WT's opinion vs Total. It's WT's vs a host of industry experts who have seen lots of data post-drilling. Guess we'll see who's right and whether the market agrees with his current pps valuation of $31 based almost solely on whether he or a host of experts in the O&G industry are correct.

The guy complains about anonymous message board trolls, then cites anonymous research as the basis for his conclusion, all the while ignoring no less than three independent resource evaluations which directly contradict his conclusions.

Enough said..

Whitney Tilson!  One of the short sale people we have discussed many times!  I think the short sale person commenting on Shareholders Unite article yesterday is Whitney Tilson!  He said he was going to write an article and here it is with similar numbers!  I talked to my friend and he thinks IOC is a great deal.  He thinks Total was nervous about puttting many billions estimate out there and GLJ has proved the reserves!  What a bargain!  Boo on Whitney Tilson!