More twists coming for PNG’s emerging LNG industry?

[steve3752]

I also contacted Michael Lynn a couple of months ago and agree his response was laughable.

[DixieDog1]

Disclosure, First time poster. Long Term Share Holder. Have been to PNG on Institutional Shareholder Field Trip and trekked though the jungle to see Elk- Antelope. I am a believer in the resource. Many years ago when I sat with Phil for lunch at the Port Mosby yacht club, I realized He was one of the company's biggest assets (entrepreneur who created major value out of nothing- old leases that no one else was interested in anymore) but also the companies biggest detriment in that no deal was ever going to be good enough for his expectations.

While I believe it was a huge step to get the new blood on the BOD and management team, I too have been puzzled about the lack of equity ownership by MH. I have been involved with enough companies over the years to realize that it is possible that conservative company counsel would have kept MH in a perpetual black out period due to him always having access to drilling info and strategic discussions which are likely always evolving. What I don't understand is why he hasn't asked or the BOD demanded that more of his compensation come in the form of restricted stock grants.

Now if this has occurred and I am not aware of it, then someone please inform me.

Lastly, thanks so much for everyone's post over the years. It truly is informative.

[calaban48]

Disclosure, First time poster. Long Term Share Holder.

Welcome, Dix!~ Appreciate your input already.

[jft310]

I believe Hession has been blocked. I have first hand experience of CEO's being blocked in buying stock for long periods of time. He does have those RSU's.
If Bernstein is right when they state the plant opens and IOC trades at $250 per share. Hession and crew can buy stock on the secondary after the Total payment. Above $95(Credit Suisee says $113) and hold for 5 years and they can make 150 % over the 5 years. Credit Suisse predicts the secondary for operating cash until then plant opens. See the respective reports..