While many here await a daunting SA article that will vilify the deal with TOT that features the words of many of the posters here that would be so easy to write even Adam Gefvert (Mr. Dryhole Blowback) could write it.
There have been many big swings in the pps over the years, without knowing the dates I would like to point out just a few of the imaginary horribles that were coming that never came to pass. There are others here that know the dates far better than I do, but I recall these strawmen dressed up in full short regalia as the boogeyman himself. Who remembers the time when Duma threatened to nationalize the IOC licences? I recall a drop from the 60's to 31 on that resulted in IB's coming on board. Or the drop from the 80's to low 40's when PNG threatened to take half of PRL 15. Or how about the recent swoon in May when XOM entered into an exclusive with for 4.6T's (which was really quite stupid of XOM in the first place since shorts now claim there is only 3.6T's according to deal with TOT) and took us from an all-time high to the 50's. Or how about the political unrest and elections when admin reverted to his Professorial days and gave us all a primer in the PNG Constitution and the difference between a Democracy and British Commonwealth Parliamentary government. That was educational, I am still awaiting my mail in degree on this topic, perhaps I should have applied by email. Oh well, lesson learned.
Along the way other characters have played key roles, Whitney Tilson of my partner canned me because I get my research from anonymous posters on the internet and protray it as my own fame. He could also win an Oscar for I am not a money manager but I play one on TV. He's been short since the 20's. Sam Antar, or Fredo Antar as I like to call him, he sells out his family to save his own hide and parlays it into a few TV apperances until the camera figures out it can't look at him anymore. What about Barry Minkow currently residing in the clink while he dons the collar pertending that he worships something other than money which by now we all know is a laughable lie. Yet all these characters are to be credible by some here at shu, so we must hear their postion and worse give it credence.
So where are we know? The latest appears to be IPI and dilution of a stock that is partnered with a major with 20B in cash that has for the first time the blessing of Duma and support of the PNG government. We must pay attention to this latest canard because out new CEO stated in the recent cc with analyst that this transaction would be neutral, a pass through, but how can that be? He must be lying. So let's give shorts something to write about by posting concerns that none of us here know anything about. Who has the IPI agreement? Who has read it? Pavel at RJ has and states 248M is their claim, but what does he know?
Here are some underlying facts to consider while this negative typhoon swirls about awaiting the next short attack. One thing I will always admire about shorts that is worth a compliment. They control the narrative on the stock through use of the above characters, including some churlish legend from pngindustrynews that released a negative article on OE day a few months ago. Yea, he was so notable I forgot his name. Anyway, the facts are...
IOC has a deal with TOT that is uncapped at 1.29 for PRL 15
IOC is commencing on an aggressive drilling plan with TOT financing the delineation wells
IOC will own 30% on the back end
Shorts interest is higher than the last report, they didn't cover here in the recent swoon, but hey, let's all bow to them, the all knowing that they are and continue to feed them concerns. But they are smarter than we are? Than me? Than admin, Tree, Palm, Hemi, Tusker, Hession, Bkyer, Duma, O'Neill, Kavo, Art, Gator, Stavros, Trans.
Really? As the saying goes here in the 21st Century, perhaps its time to "check yourself, before you wreck yourself"
Good Luck gentlemen and may 2014 bring you a spine made of steel to replace the one made of rubber.