01-15-2015, 05:53 AM
He wrote an earlier article on IOC as a short, arguing it's worth under $10 a share and he published an update. I can't quote literally, but among the things he argues is:
- They are in the process of marketing their stock to potential investors
- For which the PNG environment is "perfect" it's geological formations have "relatively small pockets of natural gas under very high pressure", creating "terrific flaring for IOC business updates"
- He "does not expect there to be enough gas for total to proceed with the project"
It sounds like stuff bostonkenmore would make up. Of course, this guy doesn't have any background in oil and gas and there is absolutely ZERO substantiation for this stuff. We have several resource evaluators rubbishing him already.
One does need a SA Pro subscription to read the nonsense.