What News - Reflections of A Venture.

[Optionray]

OK OK OK.. But! How do we know it's not Bobcat and how did the AFR acquire that photo?

Simple... we wait.

That is the time line between what we think and what we know.

Recommend readings of T.S. Elliot.

As for the words themselves suggest:

How To Do Things In Words.

John L. Austin

;-)

Sorry boys - no way is that a flare - not enuf yellow.  And if it were we'd be in trouble as he's looking up at the rig floor.  And no confirmatory reflections in MH or the other fellows glasses, and they're looking off in the distance where a flare would be.

we wait

"... as he's looking up at the rig floor."

"... and they're looking off in the distance where a flare woud be."

HUH !!!

Really?

The rig floor? The rig floor is on jacks.

And of note: you can not see any of the three person eyes.

2nd note: We Are Not Boys On This Board

Trouble with your english comp. Did you just wake up?

"No way is that.... . ...and if it were...."  Sorry, are you confused about general concepts?

LOL

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The fact that they are all wearing, onsite, standard issue sun glasses speaks volumes for me!  Sure wish I had more visuals of the other drill sites.  That mountain behind them could be a clue as to their location. Based on the reflection of the sun bouncing off their hard hats, it appears they are facing northwest if the picture is current.

[jft310]

There is no credit in the article given to the photographer. Usually we see such credit the owner of the photo. Could Interoil own the photo ? Could Interoil have provided the photo to AFR so they could control its use /distribution?the writer of the article states very exciting and the word Wahoo. Appears this is a picture at Wahoo. What are MS and these contractors ? Schlumberger ? Lookin at? It was important enough to be the focal point of the article. There is a message here to shareholders as it was placed on page one of the companies website. So far it's a tease. What item would get a busy CEO to visit a wellhead?

The only choice is a discovery !What type discovery .? How big . when do we hear more ? are debatable . Certainly no time to be short .

[Kaliboo]

Right it's no flare.  Too white and very square.  Another observation - no ear plugs or hearing protection.  Thats now standard for the oilfield.  This must mean no engines are running at the rig site.  A rig is a very noisy work environment.  This may have been taken before spud.  Both of my ears ring.  Likely at least in part due to being on rig sites in the days when hearing protections was not required.  I can't imagine the CEO would violate safety policy.  Large flares also can be noisy.  I imagine this just well site construction.

[jft310]

I refer back to the article which used the words very excited about the well and the word Wahoo. Further I can see an orange red column in the sunglasses reflection. Additionally I look at my calender and see how long they have been drilling Wahoo and deduct it's time for some results. The company thought so much about this article they posted it on page one of their website. We wait.

[Stavros]

I maintain my opinion that IOC has known the results for over 30 days and that they will announce Wahoo as a major "Discovery" in due course

Furthermore, I believe they're holding substantive sell down discussions with several potential partners. Publicly wevealing the Wahoo drilling results could potentially disrupt final negotiations with the selected winner.

When the partner is selected and the deal is done, we'll see a Whopper Wahoo Weveal (as Elmer would say).

[Kaliboo]

I maintain my opinion that IOC has known the results for over 30 days and that they will announce Wahoo as a major "Discovery" in due course Furthermore, I believe they're holding substantive sell down discussions with several potential partners. Publicly wevealing the Wahoo drilling results could potentially disrupt final negotiations with the selected winner. When the partner is selected and the deal is done, we'll see a Whopper Wahoo Weveal (as Elmer would say).

Given that they have a road to the rig site, which means all the equipment and materials can be trucked in AND given this hole is < 7000 ft TVD based on a seismic slide I saw, I think they may  have in fact been finished for weeks now.  Hession is doing something before the news release.  But I don't think he's selling anything.  If he was selling, then he'd want the "good news" out in public in order to drive up the price and number of bidders.  He would be selling only if he had bad news.  So I think/hope he must be trying to buy something or gain leverage prior to releasing news of a new discovery.

It's becoming too much of a stretch to believe they are having well problems all this time.

[Palm]

If this is the case, then they must first file the results with the DPE and request that Wahoo be declared a "discovery". If the govt agrees, it then is officially a discovery or "location" under the O&G Act

[ArtM72]

.  That mountain behind them could be a clue as to their location. Based on the reflection of the sun bouncing off their hard hats, it appears they are facing northwest if the picture is current.

If you go to Google Earth you will see a low coastal mountain adjacent to (generally SW of) the broad flat plain where Wahoo appears to be located.  It certainly would seem that is where the pic is taken.

FWIW methinks the yellow reflection in the sunglasses is the yellow warning strip on the stairway (ladder?) next to the group.  It would be tough to see a blue methane flare tipped with orange, but I don't doubt for a minute Tusker has extraordinary, if often obscure, perceptive senses.

[ArtM72]

I maintain my opinion that IOC has known the results for over 30 days and that they will announce Wahoo as a major "Discovery" in due course Furthermore, I believe they're holding substantive sell down discussions with several potential partners. Publicly wevealing the Wahoo drilling results could potentially disrupt final negotiations with the selected winner. When the partner is selected and the deal is done, we'll see a Whopper Wahoo Weveal (as Elmer would say).

Can anyone tell me how secret negotiations could maximise shareholder benefits?  Seems to me if you want the best pricing you maximise the universe of possible buyers.  I remain convinced the reason Total got the deal they did was PNG insistance that only a supermajor would be allowed as IOC's principle partner.

[will2bgreat]

I maintain my opinion that IOC has known the results for over 30 days and that they will announce Wahoo as a major "Discovery" in due course Furthermore, I believe they're holding substantive sell down discussions with several potential partners. Publicly wevealing the Wahoo drilling results could potentially disrupt final negotiations with the selected winner. When the partner is selected and the deal is done, we'll see a Whopper Wahoo Weveal (as Elmer would say).

Can anyone tell me how secret negotiations could maximise shareholder benefits?  Seems to me if you want the best pricing you maximise the universe of possible buyers.  I remain convinced the reason Total got the deal they did was PNG insistance that only a supermajor would be allowed as IOC's principle partner.

Secret because they are in buy out negotiations with Exxon.  Exxon has the PNG LNG up and running but with no where to expand to obtain their economies of scale.  Exxon realizes that now IOC has made additional discovery(s), the chances of IOC selling them gas is between slim and none, and slim left town with the latest discovery.  $6B takes enough gas for 3 or 4 additional trains, as small price to pay.

Good luck longs.