Friday Fact

[Stavros]

The "FACT" is that Management is legally allowed to acquire shares, yet "chooses" not to buy any shares whatsoever.

This "FACT" is far more damaging than not "revealing" their expectation of resource certification.

[trans]

The stock price issue is an interesting one. Energy prices are obviously outside of management's control but a very sizable chuck of value has a locked in price per mcf by the Total selldown. The biggest thing that will make a difference over the next year is the Elk/Antelope certification number. You may note that Hession has never explicitly stated any number or range for the expected certification at Elk/Antelope. The closest Hession has come is in the most recent presentation when he spoke about having enough for a two train development. The problem was when an analyst asked if this mean 7.0TCF he declined to say anything other than enough for two trains. Management has spoken about shifts in their high case to mid case for specific parameter assumptions. This is certainly a good thing but we don't know what current managements mid or high cases were to begin with and they were certainly different than previous managements. Also, this is only one or two parameters out of many that are needed to estimate reserves. The well data has been great so far but it remains difficult to piece together the big picture for people that are very versed in it. Its nearly impossible for people who aren't specialized. Once a Elk/Antelope is certified at X.X TCF this becomes a much more straightforward story. I appreciate that Hession is trying to establish a conservative approach but if he wanted to put a floor on the stock all he would have to do is say "We are expecting Elk/Antelope to be certified at no less that 7.0TCF and up to 9.0TCF pending drilling results" The analysts would run with this and it would be instant stock appreciation. He obviously doesn't want to miss this number to the downside but at this point management must have a pretty good idea of what the range is going to be. I think its likely we hear nothing until the actual certification but thats all it would take.

Then Hession needs to go...imo.  My conclusion on this has been for several months that mgt is deliberately dragging on progress and news.  Reason to me?  They are very afraid of being bot out.  Trying to drag out the process means that a buyout suitor likely needs more data to determine what ioc is worth.  If a buyout, I would say TOT and they absolutely bring another 1 or 2 SM's in to accelerate development and lower their risk exposure.  The lack of info clarity is inexcusable to me, and is there for a mgt reason.   Wake up BOD,or excuse yourself...fwiw     trans

[jft310]

I have my sources but the Exxon deal was not revealed in a written form . Considering the sources it's doubtful this is speculation .
Publicly we have
GCA number at 5.3 T's P-1
Exxon only pays on P-1
Exxon has 1/3rd of a pipeline empty with a T at Kerema
Exxon wants a 3rd train
The LNG comment is sourced
HAGD

[cybersssss]

To my view the company should be sold. It is evident at this point. No more pie in the sky.

Interestingly enough I just received a letter that has been circulated to me from shareholders trying to build up a case to have the company be put up for sale.
.

[Stavros]

That letter should be circulated to ALL shareholders ... I didn't get it.

Can you send it to me as a Personal Message cyber???

[Gator]

Putting the company up for sale? That would require some actual work from our Board of Directors other than packing for an all-expense paid trip to NYC and converting the shares granted to them.

[Stavros]

Domestic Helpers in Singapore are not very expensive.

The cost is about US$ 750 per month after paying all taxes, bonuses and air fare back home for vacations. I suspect that all IOC Management has one.

They don't have to pack or do the laundry when they return.

[Thylacine-2]

This board is getting more like Yazoo all the time.

[jdeo1969]

Doesn't Hession receive a sizeable bonus if the company is sold?

Perhaps (just a wild theory here on my part) the "delays" are due to Total considering what they might want to pay for the entire company at this point. A buyout is inevitable in my opinion and Total has the best seat at the table for that. I understand many have stated that they wouldn't do so before the certification results are in, but they may be sizing up a purchase of Interoil in the meantime which would obviously be super duper, triple secret stuff. Total would be absolutely negligent in managing a multi billion dollar company if they didn't at least run the numbers and consider a buyout. Botten said the other day (reference the thread "energy companies are cheaper than assets after the rout") that buying up companies is a strategy that may be better suited for bigger companies given the current Oil price environment.

Just a few thoughts.
Good luck longs
Jdeo

[Palm]

Probably need to read/review the revised compensation plan