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'kommonsents' pid='70852' datel Wrote:
'freddiekingman' pid='70809' datel Wrote:I posted pretty much the same in 2 words..but that post was removed... :-) Thanks Pet.
Yes, there is censorship here on SHU......
No, there are rules, which is different from censorship.
By today it should be pretty obvious to all but the most myopic that substantial criticism of the company isn't censored.
But rants filled with invectives are simply removed, as they add nothing to the discussion.
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'admin' pid='70854' datel Wrote:
'kommonsents' pid='70852' datel Wrote:
'freddiekingman' pid='70809' datel Wrote:I posted pretty much the same in 2 words..but that post was removed... :-) Thanks Pet.
Yes, there is censorship here on SHU......
No, there are rules, which is different from censorship.
By today it should be pretty obvious to all but the most myopic that substantial criticism of the company isn't censored.
But rants filled with invectives are simply removed, as they add nothing to the discussion.
Perhaps we the reading members and others are capable of judging all that. What you are doing is censorship according to your agenda, pure and simple. I disagree with it.
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'ArtM72' pid='70808' datel Wrote:Which BOD gave Hession the change of control $37M payout? If what you say is true, and believe me, my dots connect to at least 95%, then Hession could argue it was the Board's direction, as evidenced by that incentive, to sell the company. His position being he was only doing his job in the best way possible and not in any way culpable. Now, what that element begs in logic is how Hession was allowed to mislead investors in every Conference Call until the very last about the goals of his administration and plans moving forward, thus colluding with the Board while knowingly defrauding those investors Thanks for your post. I wish I had one quarter your horsepower.
The current BOD raised Hessions Change of Control payout to $37M and then to $39M, When Hession first started, his Change of Control payout was $12M.
Hession cannot cast the blame on the BOD and simply walk away, because Hession is a Board Member himself. He is the Executive Director.
This is what is going to come down the pipe shortly:
Sombody is going to sue the BOD and name them individually. Then a subpoena will arrive for the Chariman (Chris Finlayson), and the deposition process will begin. At this time the SEC is going to wake up and want to get involved, and the BOD, yep 100% of them will turn on Hession and his team and the handcuff party will begin.
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That would be bad for. the PPS
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Once we all get through the anguish and anger, we need to think what is best for Shareholder value, nothing else. is Phil the solutoion or will he drag
on for years and years. Lets hope some other SM is keen to get this resource , maybe they are waiting for both Interoil and Oil search to fall on their sword.
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The answer is simple - - - TOTAL, XOM, OSH and the PNG Government want IOC out and it WILL HAPPEN.
We need to do everything possible to stall the deal until they realize they must pay IOC shareholders a fair price for us to sell our assets.
Current deal: 8.05 shares of OSH plus $6.05 per Tcfe above 6.2
Required deal: 10.0 shares of OSH plus $10.5 per Tcfe above 6.2 WITH A FLOOR of $30.00 per CVR
Drivel Maven with Personality
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'Stavros' pid='70881' datel Wrote:The answer is simple - - - TOTAL, XOM, OSH and the PNG Government want IOC out and it WILL HAPPEN. We need to do everything possible to stall the deal until they realize they must pay IOC shareholders a fair price for us to sell our assets. Current deal: 8.05 shares of OSH plus $6.05 per Tcfe above 6.2 Required deal: 10.0 shares of OSH plus $10.5 per Tcfe above 6.2 WITH A FLOOR of $30.00 per CVR
8.05 shares of OSH = 8.05 x (6.83 / 1.32) = US$41.64 <== todays conversion rate
Given the liberties we have seen Hession and the BOD take with the truth, we may be looking at 7 Tcfe on the upside which would give us a CVR of (0.8 x $6.05) = US$4.84
So a grand total of $46.49/share
you know what? I not very thrilled about that number.
Adding a Participation Bonus of US$30 payable in addition to the CVR would give us around US$76.49/share
Not happy, but getting closer to being able to live with it.
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Stop panicking - - - we're not looking at 7 Tcfe!
GCA said 7.1 Tcfe a long time ago, before additional excellent drilling results and positive connectivity data.
The number, according to Hession, will be closer to 12+ than to 10.
If Hession lied, then he is a criminal, IMHO.
Drivel Maven with Personality
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'Stavros' pid='70884' datel Wrote:Stop panicking - - - we're not looking at 7 Tcfe! GCA said 7.1 Tcfe a long time ago, before additional excellent drilling results and positive connectivity data. The number, according to Hession, will be closer to 12+ than to 10. If Hession lied, then he is a criminal, IMHO.
Not panicking, modelling. I am working on some spreads to graph this
Yes, Hession lied. I can state that categorically. (I can actually  )
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'Stavros' pid='70884' datel Wrote:Stop panicking - - - we're not looking at 7 Tcfe! GCA said 7.1 Tcfe a long time ago, before additional excellent drilling results and positive connectivity data. The number, according to Hession, will be closer to 12+ than to 10. If Hession lied, then he is a criminal, IMHO.
But curiously enough:
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The tables in their own presentation only go up to 8Tcf
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There is a certification ongoing by Gaffney Cline and Netherland Sewel, paid by OilSearch, but the results might not now be made public..
I'm sure it has been discussed here before, but it would be useful to know what the main differences between GLJ and Gaffney Cline were, in their assumptions about Elk/Antelope, and if any of these differences have been settled favourably (or unfavorably) by recent appraisal work.
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