(06-06-2016, 06:16 PM)Liloilady Wrote:From the replay of an RJ / Pavel conference call with Hession and gang regarding the deal. May 24: Per Hession, there will be 2 Resource Evaluators, chosen out of the following 3:
Ryder Scott, Beicip, and Miller and Lents, Ltd.
It was decided that Gaffney Cline and Nederland Sewall were "tainted" because they're working for OSH right now. The evaluators they're choosing from now are the 3 left on our original SPA list. Nothing suspicious with this, I don't think. I would have preferred folks who are already familiar with our field, however.
Total picks 1 resource evaluator and a "CVR subcommittee" picks the other one. This subcommittee is made up of 2 IOC directors + 2 OSH directors + 1 "independent chairperson." This subcommittee will oversee the CVR process from beginning to end.
I don't understand how independent certifiers can be "tainted" anymore than I understand how Interoil's own independent certifier for over 10 years running can have their estimates suddenly and summarily ignored without comment. Qualified "bankable" experts don't get tainted other than by graft (not a sustainable business model). If anything they've been tainted with exposure to and possible revelations in the data unappreciated by management.
The whole committee issue trumpeted as complex but fair and transparent is a facade covered in the blood of red herring.