Tilson on InterOil

[Libtardius Maximus]

Look on the bright side, at least we now know who put together Phil's quotes as talking points and saw to it they we disseminated to the short side en masse. It appears that our Mr. Tilson is the go-to guy for shorts or a puppet for a much larger player.

Either way, we're all going to find out who was right and who was wrong soon enough.

[ArtM72]

My view is simple. XOM has not denied the negotiation. O'Neil has enthusiastically supported the marriage. A good number of successful people on the Board of Directors would need to seek another country to live in based upon their public statements. A number of very large financial institutions would have an incredibly black eye. (The last one isn't so important as they've already established in 2008 they could be gamed). And Tilson has timing delays as his strongest arguement.

[Getitrt2]

It's amazing and pathetic just how distorted or just simply false most of what Tilson had to say about IOC (and about XOM) is. However, I can attest to the fact that he actually is able with that trash to cause uncertainty or even fear with a lot of people.

With regard to his trash about "reserves", here is some information that might help some people:

"Reserves:
Reserves are a general term that refers to the amount of natural gas and other hydrocarbons that a company has present on its properties. The industry categorizes these hydrocarbons as either proved, probable or possible reserves.

The most important category of reserves are proved reserves, which are defined as natural gas and other hydrocarbons that geological and engineering data demonstrate with reasonable certainty are recoverable from known reservoirs under current economic methods, government regulations, and operating conditions. The economics of the proved reserves must be determined using a 12-month average price using the price on the first day of each of the preceding 12 months.

Many natural gas companies will also present in marketing materials the amount of proved reserves using different prices than the ones mandated by the regulatory authorities. Investors should be conscious of what prices are used to calculate proved reserves when comparing different companies to each other.

Natural gas companies also have the option of disclosing the amount of probable or possible reserves to investors in regulatory filings, but since both these categories are less certain, investors should not rely on them too heavily."

"Definition of '3P'
The total amount of reserves that a company estimates having access to, calculated as the sum of all proved and unproved reserves. Unproved reserves are broken into two segments: those based on geological and engineering estimates from proved sources (probable) and those that are less likely to be extracted due to financial or technical difficulties (possible). Therefore, 3P refers to proved plus probable plus possible reserves.

Investopedia explains '3P'
Energy companies update their investors on the amount of oil and natural gas reserves they have access to through a reserve update. This update typically includes proved, probable and possible reserves, and is similar to an inventory report that a retailer might provide to investors.

The 3P estimate is a rosy estimate of what might actually be pumped out of a well. Probable reserves are generally given 50% certainty (P50), and possible reserves are given 10% certainty (P10).

Definition of 'Possible Reserves'
An estimate of the amount of oil or natural gas reserves that may be available for extraction. Reserve figures are broken into two primary categories according to theoretical accuracy: proved and unproved. Unproved reserves carry more uncertainty, and are further broken into "probable reserves" and "possible reserves", the latter of which has a lower probability of being recovered.

Investopedia explains 'Possible Reserves'
Because of the geological complexity surrounding natural resource exploration, oil reserve figures are more of an approximation than an exact estimate. Estimates are typically revised as more information on the geological makeup of a particular reserve is uncovered. In addition, technological advances may increase the amount of oil or gas that can be recovered, as less of the natural resource will go to waste as efficiency increases."

How can such a lying securities law violator and stock manipulator as Tilson be so ignored for so long by the SEC? He used to even show up frequently on CNBC. And the lying hypocrite has the nerve to accuse IOC of phony promotion and hype! Give us a break!!!