'Getitrt2' pid='65069' datel Wrote:
'Gator' pid='65060' datel Wrote:My question is simply what do you suggest the company does about the situation?
When a sports team consistently misses the playoffs, they fire the coach. When a company consistently misses the payoff, they should fire the CEO. Hession has lost all credibility with Wall Street. On March 17, 2015 InterOil published this timeline.
On May 12, 2015 they didn’t change any time table.
June 9, 2015 we hear for the first time about a 1 quarter delay.
August 13, 2015 the certification is now “mid-year” 2016 and Hession wouldn’t commit to June 2016.
November 13, 2015 InterOil is “Fully focused” on certification in 2016.
November 18, 2015 IOC said “The joint venture is also considering an additional appraisal well on the western flank of the Antelope field”
November 23, 2015 Oil Search also mentions Antelope 7 (proposed).
In the March presentation, InterOil states they were planning to drill as many as 8 wells in 2015 with 5 rigs. If they had the rigs and the money why are they so far behind? It has nothing to do with the price of oil, LNG or tea in China; Mismanagement.
As of Dec 31, 2015, they will have completed drilling and testing all of those eight wells listed on the left, except for Antelope South and Antelope 6, of which Ant 6 will be underway, plus they will have completed drilling and testing an Ant 4 Side Track, and will be down to two rigs on long-term leases efficient enough for effective use, which this management brought in with good foresight. I say real progress way above anything in the previous history of the Company.
I say your sports team comparison is inappropriate and irrelevant, the Company has not "missed" any "payoffs", CEO Hession has NOT "lost all credibility with Wall Street" and in fact has created more credibility for the Company than ever before, and your conclusion is more BS.