'ebster123' pid='36673' datel Wrote:Getit, I believe what some take issue with is that IOC needs to learn for past experiences. The market does not like uncertainty, this is fresh meat for shorts regarding IOC. If there is any chance an expected timeline can not be met then IOC should not set or give a timeline. There was a timeline for IPI. If not met is causes potential uncertainty which is prey to shorts. We have seen this way too many times.
Ebster, I do not think some slippage in the completion of the multiple, complex IPI/minority interest agreements should be seen as a big event necessarily and failure of management to keep a "promise'. However, I agree it is more of a cause for concern, if it happens, than the changes in drilling plans and schedule for Wahoo, which I think were definitely no Hession "promise" and the subject of unjustified complaint. On the other hand, I think the primary "uncertainty" on the former is the amounts and other terms of those agreements, and something that could not be avoided. Such negotiations cannot be done in public, and I would think are very difficult to "schedule" the completion of. I agree with someone who said the content of them is more important than the when, as long as they get done for accomplishment of the SPA closing.
I understand what you are saying, but it is an uncertain world, and PNG even more so. Wanting as much information as frequently as possible from management, including timelines or dates, but wanting them to never be wrong or never need to make changes to the plans or "hopes", are contradictory. The more you get of one, the more you are likely to get of the other. There are a lot of changes in circumstances and judgment calls about matters and other people involved not totally controllable. If you don't want "any chance" of the latter, you may have to accept less information and communication. There are also judgments involved in how much information to provide when, and it seems to me that the more critical you are of the process and what is provided, the less you are likely to get potentially, although I am not trying to say there is never room or need for criticism.