O'Neil and Interoil

[ltinvest]

Eller....are you of the opinion IOC should have already announced the wining bidder?

[Palm]

6 days down, losing over a $1 a day, if this continues we are in the low 60's by end of month. A no legs stock needs a press release sooner rather than later, get the boys together. Reason, losing over $55 million a day. Shorts are driving it down to cap or  trying  to manage the pps rise and doing an excellent job.

Really Eller?  Your comment might be the most narrow minded thing I have heard in a while.  I am sure that IOC can just call up O'Neill, Shinzo Abe, John Watson, or Rex Tillerson and tell them, drop whatever the hell you are doing and get your asses to the IOC Houston office because IOC has to announce a deal because our pps is dropping 1 dollar a day (while ignoring that it just went from 55-71 in the past 45 days).

Put yourself into the shoes of the IOC executive, understand for a minute that they are the minnows in a ocean full of sharks, and realize that if you want to maintain a solid business relationship, that you don't demand anything, you abide by the schedules and wishes of your sugar daddys.

In 2 weeks time you won't even remember the 1 dollar/day for 6 day decline.

Keep it on Ice,

Hemi

10* Post 'O The Day

[jft310]

Palm- I still need ice man. Who can spare a chunk?

[Tree]

Palm- I still need ice man. Who can spare a chunk?

Heck, I need Ice and I drank my booze.  Starting over.

Wish they would just take the deal, any deal, I have a student loan payment due.......

[Palm]

Palm- I still need ice man. Who can spare a chunk?

How's this work JFT?

[jft310]

A work of art , Alas thats perfect.

[sageo]

Palm- I still need ice man. Who can spare a chunk?

Heck, I need Ice and I drank my booze.  Starting over.

Wish they would just take the deal, any deal, I have a student loan payment due.......

  Tree I think starting over is a good idea at this point in time ! However, I don't believe "take the deal" is upmost in their minds right now . (Would love to be wrong). Maybe someone just wants to buy more at a cheaper price. If we snooze , we lose.....at least a little each day,it appears.

[TxPm]

Eller & Co, if the stock goes down into the 50's ( which I don't think it will) who cares? That just means it's a much larger bargain than it is now & I can assure you I will be buying more. If you believe IOC will get a deal done in the near term (3-6 months) then every day the stock goes lower is just a better opportunity to be buying. Once this deal is announced I can all but guarantee you we won't be trading anywhere near this current pps. With the S&P within 2% of it's 10 year high a possible $50-$100 pps upside in IOC is looking more and more attractive. Keep the Faith!

[jft310]

TX- Good post Sir or I agree.

[Getitrt2]

My impression is that the government will not be making the decision on the partner or having any signing ceremony in Japan or wherever, but that IOC knows what is acceptable and the BOD is making the partner selection and essentially may already have, and that Duma does not have any significant problem with or represent any danger to that process. Once IOC and the new partner have a binding preliminary agreement signed, the government would be notified probably in conjunction with an announcement of the partner selection and sell down deal, before any final agreement with the government. IOC and the new partner(s) might even work with the government, including Duma and the rest of the team for that, on a final "gas agreement" without bothering with a formal modified "Project Agreement". As far as I know the government still has the additional 27.5% option in conjunction with the second project phase at commercial prices established with the sell down, but with an acceptable new partner on board would probably not exercise it with the final gas agreement. I understand all bidders were fully aware of that issue and prepared to work with it. Whether the Gulf LNG interest ends up in Petromin or NPCP, although it sounds like probably the latter, is an internal PNG issue that IOC probably will not be involved in; but I think that may be the real primary issue that Duma is most involved in or perhaps concerned with. He is technically correct about the current project approval being "conditional", which was actually stated as such in IOC's February 27 year-end PR, although omitted in a subsequent quote; but the Company expects that the deal will meet all those conditions and not be the problem shorts would like people to think or fear.

I think the final binding bids deadline process was as intended and communicated, and that no "rebidding" process is stretching things out, although that doesn't mean a takeover attempt and/or competition couldn't break out at any time. I believe they are working through all the various complex terms of a binding agreement that is satisfactory to all parties and will make an announcement when that is reached, but only when they have that, hopefully sooner rather than later, whatever that means.