'CAC' pid='51667' datel Wrote:I expected to see $65 today. This is good news, correct? (at least compared to the alternative). Up less than a dollar on a whopping 55,000 shares traded? Let's be honest for a second....nobody, except for exisiting shareholders who are emotionally invested (including me), seems to care about this stock. I know many on this board are frustrated by MikesIOC and his constant calls for them to sell the company but it would at least create shareholder value. That never seems to come with any of the other supposed "catalysts". I waited 4 years for the "transformative deal'". When it came, the pps got slaughtered. Then it was..."yeah, but wait for drilling results". Okay, we got some today. Nothing definitive perhaps...but not a dry hole either...generally "good". And the pps does nothing. No increased volume even.
How many "next events" are going to come and go and leave us unfulfiled? Can anybody say with confidence that a favorable arbitration ruling will move the pps...or that good Wahoo results (if we are lucky enough for that to occur) a year from now will definitely make the pps rise? Noooobody cares about this stock. It is very frustrating.
The truth hurts, and CAC nailed it. There is no buying interest in Interoil, regardles of the news.
If one looks at a weekly chart of IOC it is very apparent that volume has been extremely low since early April of this year. That is over 7 months of volumes much lower than at any time since late 2006, and you could claim even earlier. We can guess at the reasons for this, and we can guess at what news will FINALLY create buying interest, but if you acknowledge reality, than accept that fact.
It is this lack of buying interest from any source that prompts some on this board (but not just MikesIOC and me) to wish for a buyout. As Wayne Andrews said, that is how you get true value. We all think IOC is worth way more than its current price, but "nothing" seems to gain it much appreciation (recovering from new lows is not stock appreciation). By definition, a buyout achieves proper valuation, with all the knowns and unknowns mixed together into a final price. Alas, it seems it will not happen, and I appreciate those who tried to explain why . . . but a guy can dream. . .