'ArtM72' pid='62657' datel Wrote:
'Gator' pid='62640' datel Wrote:JFT,
You have stated many times certification has nothing to do with the price of oil. The delay's, lack of clarity as to when IOC will get paid is killing the stock. We are down 50% this quarter because InterOil has pushed back certification with no explanation. You can continue to be a cheerleader and wave you pom pom's that everything is great, but I feel every shareholder should let management know they will not accept any further delays.
I'm 100% with you on this Gator. This thread knocked the scab off a nasty wound. Hession's management of the drilling and certification program in PRL15 has been nothing short of disaster. It still is in IOC's PPLs. For someone whose mantra has been to "find, enable, develope, repeat" it's impossible to judge Hession's performance to date anything other than failed notwithstanding the view from anyone's weathervane.
Really, Art, I am NOT saying "everything is great", but "no explanation"? See the transcript of the last cc. Also, the appraisal testing results for Ant 4 and Ant 5 have been too spectacular to support biased opinions of "nothing short of disaster" and not "anything other than failed". Increasing the certification payment by $hundreds of millions, maybe even a billion dollars plus, is anything but "disaster" or "failure", as frustrating as taking longer than expected is. That will increase the value and success of this Company enormously regardless of the short-term stock price, which is down also in large part because of oil and LNG prices and the worst market correction in years, like other energy companies, many down more, not just from now-resolved rig and drilling problem delays and false statements of "no explanation" from people who apparently are not aware of or just don't like the explanations or don't think they are sufficient without offering evidence therefore. Are you going to "let management know" that you "will not accept ANY further delays", even for an additional half billion or billion dollars? Good luck! (Actually, bad luck!) Of course, I guess you can personally not accept it by selling your stock at these ridiculously low prices and staying out and moving on. Nothing personal.