'cybersssss' pid='70097' datel Wrote:Kommon, I do not believe there is anything at all to fear by voting down this terrible deal for Interoil shareholders. In my view we are better off riding the recovery as Interoil shareholders then oil search shareholders. You seem to think that we are in a position of weakness. Quite the opposite, we are in a position of strength. They want us, we don't want them. Possibilities 1) they make a better and more acceptable offer before the vote when they realize the resistance out there. 2) we vote no and we fire our destructive CEO that has torn down this company and wasted capital to no avail. Ioc can ride out the total contract easily with barebones staff. There is no need for a big board. Basically a holding company. I rather do this then take a bad deal. Hession goes bye bye and doesn't get his cake and eat it too. He gets money and no board seat and no entrance into oil search if he doesn't deliver ioc to them on a plate. Like he is trying to do. There are many ways this can play out. All good in my opinion as we know the most basic value now that oil search showed us. 3) another bidder comes in. Anyway you look at it DONT BE AFRAID. There is absolutely no need to. We have a floor in our price now. Hession must be stopped and we must get what we are worth. SHAREHOLDERS MUST UNITE
You are putting words in my mouth, Cyber. I am simply trying to clarify that just because we vote no and this deal gets voted down doesn't automatically mean they will sweeten the deal. It is not an automatic. OSH is not a wealthy company and has limited resources at this time. There are risks with their offer.
Personally, there are way too many unknowns in their offer based upon what I think I know so far, and the price structure that I can see is not acceptable to me. So with what I know now, I vote no.
I think IOC is worth far more than OSH is offering and we would be fools to accept their offer as it now stands.
The only good thing about the OSH offer is that tends to derisk IOC to the extent of the offer except the CVR is not yet clarified and so may be at risk.
IOC still bears risk going ahead, especially with The PSO as CEO and with the present BOD.
Which brings us to the PM situation which certainly bears careful consideration.
Perhaps what we need at this time is a reduced caretaker BOD and a new CEO, perhaps chosen from present ranks. PM on that BOD may or may not be a good thing. Depends on his present thinking and agenda and I do not yet have that information. PM needs to clarify his ideas and agenda beyond what he has provided so far.