Complaints thread

[Putncalls]

This complaint bucket is a sad thing. It makes me feel like an "out cast". Was I wrong about the static drill bit?

[SamAdams]

More condescension, I see, as well as naivety. You clearly don't understand how expectations get "reset". The CEO doesn't come out in public and say ........ His inexperience caused a lot of volatility in the stock, or can you read stock charts as you seem insistent on asking others whether they can read things here, unnecessarily by promoting getting the deal done. The point was he KNEW there was no chance of getting more than a $1. That was his ASK. That's an observation of a big mistake by a CEO. I know its hard to digest. My not leave this all alone by ending on your dog comment which was actually quite funny. You seem intent on lurking in lobbing in these bombs. Perhaps we should create a JFT thread and you can go hog wild all day. The PR release was also a fiasco. How many times can Lucy(DUMA) pull the ball away from you before you realize she'll do it again. They should have been better prepared and weren't. Call it what you will. Complaint, criticism or opinion but at least its under the right thread I guess.

[mikesioc]

If we are here to list management mistakes and itemize complaints the 12/6 debacle was a complete disaster in every way and there is no excuse for it given the magnitude of the event. More later.

[SamAdams]

I suggest a "bad sarcasm" thread, you can post first Thy, and a " don't look at the man behinds the curtain" thread ( for those still in denial).  I don't understand the knee jerk hatred of anyone who criticizes the company.  Those who don't want to se it, shouldn't read this thread.

One thing I tire of reading, and I'll limit it to the complaint thread, is the constant and ceaseless whining about the shorts.  No one here really knows what the shorts do nor can they change it.  Neither can the company.  Tilson  was an idiot and anyone who said there was no gas, but certainly some smart shorts knew the big deal and buyout would never happen.  They were right.  So now we move forward with a good deal but a need to certify the resource, reach FID and prove exploration upside.  So if talking about December is off the main SHU thread so should the short complaints, IMO.

[admin]

People, last time. DO NOT GET PERSONAL. If you have issues with a particular post, deal with the arguments, not the poster.

Here is what I'll do when it continues:
1) I'll start with removing posts. If that still doesn't end it,
2) I'll start removing posters. First by a cool off period, if they're still at it after that, permanently.

[jdeo1969]

I agree with Sam here jft. This seems pretty cut and dried to me. They botched the deal announcement big time. And if hession was asking 1 dollar per mcf, he absolutely should have reset the bar wirh the market and with we shareholders. But that's all water under the bridge. But we shouldbt make excuses for management. They should report to us. We ARE the company. Now we let him do his job and we hope he has a proper handle on things going forward. That's all we can do other than complain. That was a joke, I couldnt resist. Have a good weekend all. This has been one helluva week.

Good luck longs
Jdeo

[Relker]

My take is that most spikes occured because the public invented a takeover story. The 12/6 disaster was partly caused by the fact that the monetisation would be delayed. Uptill the end IOC played that they had more balls in the air. Managing expectations could have harmed the negotiation position. I do not like the way the Wahoo story is handled. They are excited because they suspended operation..... It looks like they will resume drilling when the IPI buy in option elapses.

[Palm]

One cog in the wheel often overlooked is that management does not report to shareholders but to the Board as far as the hierarchy goes. The Board hires and fires the CEO and sets basic policies. They also are the ones elected to Board positions by the shareholders. Byker is one of the top shareholders between the BOD and management. If shareholders don't like how management is handling reporting/updates they need to be included in the "complaints" loop. Most Board members value their position with the company very highly. If they are properly kept in the loop and do nothing, they can be gone no later than the next AGM.

[jft310]

People, last time. DO NOT GET PERSONAL. If you have issues with a particular post, deal with the arguments, not the poster. Here is what I'll do when it continues: 1) I'll start with removing posts. If that still doesn't end it, 2) I'll start removing posters. First by a cool off period, if they're still at it after that, permanently.

When a poster makes statements that is legally impossible to have ever happened start in that spot.

Start with looking up the definition of a Confidentiality Agreement . Legally there is no way to have updated the market.

The expectations came from Phil's comments $4-5 an mcf. From Exxon's need and talk of a third train and from IR at Interoil.

Legally once negotiations had started and they started BEFORE Hession arrived on the scene nothing could be said.

Breaking those Confidentiality Agreements would have had serious repercussions for Interoil . Including all the bidders walking.

The statement Interoil should have updated the market has no basis in fact.

One has to ask when did those Confidentiality Agreements lapse so an update could have been given. .Since

they were still in place legally Interoil has no way to talk price.

Should IR have studied recent gas deal prices in Asia maybe.

But Hession as CEO had no legal way to update the market because he was directly involved in the negotiations.

So we are to assume Hession was supposed to have stopped negotiations updated the market and then hit resume.

Made statements like this well Exxon is the low bidder at 75 cents and Shell is bidding more

but we like Total the most because we have upside for more gas and they have committed to build our LNG plant.

Who thinks anyone in negotiations with others could make any statements like the above.

Impossible .

The market expected a deal with Exxon for a third train with early monetization and that did not happen. The injection

of Total adds time and risk of execution. The Exxon plant was about to open , it was financed fully.

The added uncertainty of time , when and how much reduced Interoils stock price.

Those are the facts let's stick with what we know to be true vs speculation about what Hession should have done.

i suppose the negotiations could have been stopped to update the market but most or all of the bidders would have walked.

[ebster123]

More condescension, I see, as well as naivety. You clearly don't understand how expectations get "reset". The CEO doesn't come out in public and say ........ His inexperience caused a lot of volatility in the stock, or can you read stock charts as you seem insistent on asking others whether they can read things here, unnecessarily by promoting getting the deal done. The point was he KNEW there was no chance of getting more than a $1. That was his ASK. That's an observation of a big mistake by a CEO. I know its hard to digest. My not leave this all alone by ending on your dog comment which was actually quite funny. You seem intent on lurking in lobbing in these bombs. Perhaps we should create a JFT thread and you can go hog wild all day. The PR release was also a fiasco. How many times can Lucy(DUMA) pull the ball away from you before you realize she'll do it again. They should have been better prepared and weren't. Call it what you will. Complaint, criticism or opinion but at least its under the right thread I guess.

I call all your comments accurate. &Thanks