07-19-2012, 11:44 AM
(07-18-2012, 10:36 PM)Tree Wrote: Anyone else remember when IOC was in the 40s/50s, quite a few geniuses's (they know who they are) predicting IOC would not see $70 again, even after SDs? Using pps as evidence, they took credit for being 'right' all along that IOC management sucked and they assigned more power to Duma than he wielded. Reality is, IOC story was postponed 1.5 yr due to an ill Somare and a bribing Shell. Fluctuating pps and artificial low pps this year in particular have been a boon to traders and accumulators. If Somare remained healthy, IOC is a year into construction today. The delay allowed T-2 and a tripling of prl15 bids, not a bad outcome for a delay out of management's hands. That's how you turn iron into gold.
Thanks to Uberville neighbors for providing information and insight which has been reality based. Whiners may be right, we may never see $70 again, just not how they meant.
I recall a observation from Henry that it would be two years from discovery to FID. We left the horizontal at E/A under that time period. Toot Toot.