(02-14-2017, 01:28 AM)Gator Wrote:Rule number one: When selling something, the item for sale is only worth what someone else is willing to pay. 9 months ago InterOil was put into play. If it was half as valuable as some of YOUR pie in the sky figures, there would have been numerous bidders at significantly higher prices. You are also quoting other posters on what they think IOC is worth, but maybe don't have all the information. (Some of the very same posters have sold all or most of their IOC shares, so what does that tell you about the value of IOC). You have posted "alternative facts" so many time I feel you actually believe them. Good luck to you and to anyone else who is holding out for $90.
Gator - I agree strongly with your statement: IOC is only worth what someone is willing to pay. BUT, I would add the words "at this time" !!!
My main complaint about IOC management is not the price that they have negotiated, but, that they chose to sell at this time at all !!!!
They (IOC) chose to do this deal in the midst of a severe energy bear market. Another alternative would have been to have gone into hibernation mode and waited for the energy market to rebound (which it is in the process of doing right now).
They could have sold a small percentage of their ownership to a Japanese/Chinese energy firm for enough money to allow them additional time. Instead they panicked and we are in the current deal/mess.
My secondary complaint about Hession/IOC is that they strongly proclaimed the message to all that the "mid-case" scenario was now the "low-case" - ie, the drilling program was proving up a larger resource at Elk-Antelope. However, they (Hession/IOC) are now claiming that Ant-6 showed a much smaller sized field (thinner pay zone). Somehow, I do not recall them disclosing that material information to us shareholders - other than being buried in the recent MIC (deal legalese). So, any way you look at it, Hession/IOC are scumbags - they either lied by omission to us shareholders, or, they are lying right now to us to get our approval on a marginal deal.
It would be somewhat ironic if the deal gets voted down, the lawsuits fly, and the end result is that IOC survives as a partner in the new LNG plant... In other words, Hession, by sheer greed and poor planning, may have come up with the ideal delay scenario so that IOC will weather the energy bear market and come out the other side!!!
I can dream, can't I ?!?!