My broker's comments and advice

[vidon]

Late February I met with my broker in Toronto to discuss my portfolio and the submission of binding bids for IOC. I have been a shareholder since 1995, I participated in a secondary private placement prior to the company's IPO.

I was wanting to place a sell order in early March after the anouncement which I was certain would be announced right after the BOD meeting.

My broker cautioned me and made reference to another resource stock in which I participated in a private placement. This company hired Bank Of Montreal to solicit bids for its resource. The bids were received 11 months ago and there has been no defining statement from management about the status of the bids.

My broker said I was unrealistic to expect a complex multiparty agreement to be confirmed, legals finalized and PNG gov't approval in such a short time as I expected (wanted). His advice was to just sit back and wait till an anouncement was made then act accordingly. I told him I have held IOC stock for almost 17 years and wanted a definitive anouncement. His response was "so do many others"  but wanting it won't make it happen.

I have become greatly overweighted in IOC stock over the years and have watched Yahoo and SHU boards for several years on a daily basis. I know other long time shareholders have become impatient. I hope they will do as my broker advises, sit and wait..

[jft310]

No one knows where IOC should be trading today.WHOSE THE MAJOR, THE PRICE , THE % SELL DOWN, THE OPERATOR,THE TECHNOLOGY AND THE AMOUNT OF CASH TO BE RECEIVED AND THE WHEN OF THE EARLY MONETIZATION AND THE WHEN OF FIRST LNG. ONE MUST WAIT.
Good broker you have found it would be wise to listen. The IOC incentive stock option grants incentivise the IOC execs to get it all done soon. I think closed before July 2013 when the options expire. Thats ok. Remember IOC has had these 3 bankers working on this 16 months now and they get paid with a closed deal not a signed deal.

[HhoseBoy]

I would love to see the BOD get this done, I have been in IOC since less than $2, one thing we all know is NOTHING gets done in any hurry with IOC. I really thought things would be different this time, but alas it is what it is, we hurry and wait. I believe we will all be rewarded in the end, but a little update would be nice, just every once in a while. C'mon BOD git-r-done!

PS, dammit Phil, I really wanted you to crush these shorts with the March options in play! Phil if your reading thi, I am still holding some June calls. just sayin...

[jft310]

I am short June deep in the money puts. I like the odds.Timing of IOC calls is hard cause you need the right strike