The professionals at Bernstein obviously have an assessment of IOC personnel very different from that of Mikesioc. Per page 17:
"Over the past 12 months, we have seen a transformation above the ground at InterOil. There has been a substantial upgrading of the board and the executive and technical functions. There has been a change in management with Phil Mulacek departing as CEO and Michael Hessian stepping into the role in July 2013. Dr. Hessian brings international operating experience from BP and Woodside (ex-project leader of Browse). The recent appointment of Chris Finlayson as Chairman (ex-Chairman of BG) again highlights the fundamental changes in company management, which in our view gives InterOil far greater credibility with governments, partners, LNG buyers, and investors."
"During the visit to PNG, we were impressed with some of the new people InterOil have brought in at the operating level. Beyond a new CEO and Chairman, we continue to see substantive changes in personnel, with the Company increasingly being able to attract high quality and very credible individuals. While there are many to single out, Laurie Brown (ex-BP) brings added rigor to exploration, and Keli Taureka (ex-Chevron senior leadership roles) has built a very strong local team. The addition of Dave Kirk (developments, ex-BP), Tom Junker in drilling (ex-Apache) should help improve drilling performance, with Don Spector very capable as CFO. While there are others, the key point is that InterOil are building a very credible team for the next phase in the operation."
An incompetent CEO that "screws everything up" cannot attract and build that kind of organization and achieve that kind of credibility from highly knowledgeable industry professionals, lenders, etc. Furthermore, it is obvious to even me that no CEO could have struck an attractive deal for expansion with Exxon and also persuaded Total to buy into and commit to an LNG project for the leftovers. IMHO Mikesioc does not even come close to knowing what he's talking about, and every shareholder would be better off without his perpetual bs. I'm very tired of it, in case everyone cannot tell.
"Over the past 12 months, we have seen a transformation above the ground at InterOil. There has been a substantial upgrading of the board and the executive and technical functions. There has been a change in management with Phil Mulacek departing as CEO and Michael Hessian stepping into the role in July 2013. Dr. Hessian brings international operating experience from BP and Woodside (ex-project leader of Browse). The recent appointment of Chris Finlayson as Chairman (ex-Chairman of BG) again highlights the fundamental changes in company management, which in our view gives InterOil far greater credibility with governments, partners, LNG buyers, and investors."
"During the visit to PNG, we were impressed with some of the new people InterOil have brought in at the operating level. Beyond a new CEO and Chairman, we continue to see substantive changes in personnel, with the Company increasingly being able to attract high quality and very credible individuals. While there are many to single out, Laurie Brown (ex-BP) brings added rigor to exploration, and Keli Taureka (ex-Chevron senior leadership roles) has built a very strong local team. The addition of Dave Kirk (developments, ex-BP), Tom Junker in drilling (ex-Apache) should help improve drilling performance, with Don Spector very capable as CFO. While there are others, the key point is that InterOil are building a very credible team for the next phase in the operation."
An incompetent CEO that "screws everything up" cannot attract and build that kind of organization and achieve that kind of credibility from highly knowledgeable industry professionals, lenders, etc. Furthermore, it is obvious to even me that no CEO could have struck an attractive deal for expansion with Exxon and also persuaded Total to buy into and commit to an LNG project for the leftovers. IMHO Mikesioc does not even come close to knowing what he's talking about, and every shareholder would be better off without his perpetual bs. I'm very tired of it, in case everyone cannot tell.