07-27-2016, 10:55 AM
Here's my take:
1. Phil Mulacek and the "Concerned InterOil Shareholders" (CIS) own a large number of shares. They intend to vote NO to ANY deal that does not properly value IOC
2. Based on SHU posts, it seems that many Retail IOC shareholders agree with CIS; we will vote NO to this ROTTEN XOM DEAL
3. Individuals who own large blocks of IOC shares (Stevie Cohen for one) are probably sympathetic to the CIS messages and will vote NO to a poor deal if they believe a better deal can be negotiated subsequently
4. Little-by-little, Managers of the Institutional Funds who hold IOC are coming to the realization that if a bad deal is approved, they will be called onto their respective BOD Conference Room carpets to explain why their investments had negative returns. Therefore, some will be convinced to vote NO - again if they are convinced that a better deal can be consumated
5. It seems that IOC itself knows full well that the XOM deal does not value IOC properly. BUTT instead of admitting it, they are saying "If you vote down the CRAP XOM deal, the company will file for Bankruptcy Protection. So we urge you to vote YES" . . . This is an INCREDIBLE story concocted by desperate management trying to keep their ill-gotten "rewards" and stay out of jail. The CIS will certainly debunk that notion, showing that after a NO vote, the company will be able to stay in business
6. PNG LNG Stakeholders need more gas to underpin expansion of PNG LNG Trains 1&2 and construction of a new Train 3. XOM will pay as low a price as possible for IOCs gas and ( A ) sell it to the PNG LNG project at a markup; ( B ) Eventually get a large percentage of their money back from TOTAL; ( C ) Maintain ownership of the Island rather than let TOTAL set up shop = = => I believe that XOM will raise their offer if they're convinced that their deal will be scuttled by IOC Shareholders
1. Phil Mulacek and the "Concerned InterOil Shareholders" (CIS) own a large number of shares. They intend to vote NO to ANY deal that does not properly value IOC
2. Based on SHU posts, it seems that many Retail IOC shareholders agree with CIS; we will vote NO to this ROTTEN XOM DEAL
3. Individuals who own large blocks of IOC shares (Stevie Cohen for one) are probably sympathetic to the CIS messages and will vote NO to a poor deal if they believe a better deal can be negotiated subsequently
4. Little-by-little, Managers of the Institutional Funds who hold IOC are coming to the realization that if a bad deal is approved, they will be called onto their respective BOD Conference Room carpets to explain why their investments had negative returns. Therefore, some will be convinced to vote NO - again if they are convinced that a better deal can be consumated
5. It seems that IOC itself knows full well that the XOM deal does not value IOC properly. BUTT instead of admitting it, they are saying "If you vote down the CRAP XOM deal, the company will file for Bankruptcy Protection. So we urge you to vote YES" . . . This is an INCREDIBLE story concocted by desperate management trying to keep their ill-gotten "rewards" and stay out of jail. The CIS will certainly debunk that notion, showing that after a NO vote, the company will be able to stay in business
6. PNG LNG Stakeholders need more gas to underpin expansion of PNG LNG Trains 1&2 and construction of a new Train 3. XOM will pay as low a price as possible for IOCs gas and ( A ) sell it to the PNG LNG project at a markup; ( B ) Eventually get a large percentage of their money back from TOTAL; ( C ) Maintain ownership of the Island rather than let TOTAL set up shop = = => I believe that XOM will raise their offer if they're convinced that their deal will be scuttled by IOC Shareholders
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