'ArtM72' pid='70910' datel Wrote:
'ioc.aussie' pid='70879' dateline='<a href="tel:1464398 Wrote:All well and good, but this company is finished... if it drags on for months and years we will get zilch.
Interoil has no money or income to support any exploration activities let alone its share in a 10 billion Plant.
It is bleeding to death . They need over 150 milion year just to survive and move ahead with the certifcation and pre build requirements.
Total has decided when they need first gas, and will build to that date. Dont be surprised if the date gets shunted out .
Give shareholders an approx Gross cert number and a real evaluation of the companies financial position so we can make
an informed decision on the vote.
Why do you ignore IOCs contact with Total? Why do you ignore the value of IOC's PPLs? Why do you think IOC needs $150M/yr when they no longer have operations? False flagging?
IOC is spending between $60M and $80M per quarter with a staff of less than 100 people. They have just finished selling their last remaining vehicles in Port Moresby (cars that were used by management), and they dont have any staff at Napa Napa any more. What is interesting is that their payroll each month hasnt shrunk by much (~5%) with shedding 1500 PNG citizen staff and employing more SVP's and VP's and housing them in Singapore.
So with the cost of housing and other expenses in Singapore, when they had their own property in Port Moresby... That is the kind of spending pattern that brings us to this point.
What they have remaining in the $400M slush fund they got from Credit Suisse will be pretty much exhausted by the end of the year.
There is a massive amount of data avilable out there if you know where to look for it 