Hession hater???

[jft310]

Dr Hession cut a deal with Total to sell assets when oil was $100 a barrel with 2 uncapped payments .

Further he cut a deal to sell the refinery when oil was $90 a barrel .

The company reiterated a resource payment in 2015 based on asset size . Jan 12 th slides .

So far we have 2 new discoveries under his leadership .

[davidhmtk]

Dr Hession cut a deal with Total to sell assets when oil was $100 a barrel with 2 uncapped payments .

Further he cut a deal to sell the refinery when oil was $90 a barrel .

The company reiterated a resource payment in 2015 based on asset size . Jan 12 th slides .

So far we have 2 new discoveries under his leadership .

My Report Card:
A. The deal w/ Total, +1 :The deal was necessary and the prices look much better with the increasing gas and dropping global prices
B. The drilling execution, -3: High pressures were a surprise? He took over in May and didn't drill until March, should have upgraded equipment
C. The exploration results -1: Went for oil with the gas and hasn't found the oil.
D. Selling the refinery +2: Good price, the cash provides flexibility
E. Shareholders: -3: Hasn't brought in new investors, leaving stock at mercy of manipulators, long or short. The policy of information silence leaves small investors at a bigger disadvantage than usual. Much better would be weekly update calls with Laurie Brown

[sfiaes]

Is there anything preventing management and the BOD from stepping up and buying stock at these prices?

[sfiaes]

Not much infield chatter here.

The company is in the best shape it has ever been in, and paradoxically, as cheap as it has ever been.

The concerns seem to be:

Chandler selling

Drilling elevation on Ant 5

Negative SA article suggesting "marketing stock"

Lack of insider buying

[geologydude]

Is there anything preventing management and the BOD from stepping up and buying stock at these prices?

They are probably waiting for the pps to bottom out before buying like some of us

[sfiaes]

"They are probably waiting for the pps to bottom out before buying like some of us"



Do you have a number in mind?

[geologydude]

"They are probably waiting for the pps to bottom out before buying like some of us" Do you have a number in mind?

Where ever the pps is at when crude finds its bottom and/or Chandler stops selling.

[sfiaes]

"Where ever the pps is at when crude finds its bottom and/or Chandler stops selling."



Can't argue with being patient given the amount of wealth destruction we have witnessed.

By the same token, the extreme nature of the decline has baked in alot of bad stuff.

Maybe Ken can nudge one of his insider contacts to buy some stock.

[ArtM72]

I'm holed up inside my home office and bought some at $35. That makes me an inside buyer, no?

My view is simplistic (and I could argue I shouldn't be investing my own money at all given my lack of sophistication). The way people make the big money is with leverage, and lots of it. When you have a market move like oil's recent demise there have to be a lot of biggies facing margin calls, forcing sales and covers, driving prices down further. Then of course the market has a huge number of momentum traders and algorithms which by their very existence amplify any trend, in this sector's case today, down, down, a long way down.

All boats near shore rise and fall with the tides. They also all get swept up and away by the same tsunami. The good ship IOC is still out to sea and safe but that doesn't mean its investors and market price aren't affected.

I still find myself wishing I learned of our boat last week rather than five years ago. C'est la vie!