InterOil Management Continues Pattern of Deception

[admin]

Welcome aboard, Oliver. I might take you up on that game.

Yes Palm, we should have listened to you more. It's never too late to learn, or is it..

[Stavros]

I want to know how in hell they spent the $401 million from TOTAL PLUS the proceeds from selling our only source of ca$h flow (the refinery) PLUS $200 Million drawn from the Loan Facility PLUS proceeds from selling IOC's drilling assets PLUS the office furniture in Cairns.

RUBBISH has been given to us so far as an explanation

[ArtM72]

I want to know how in hell they spent the $401 million from TOTAL PLUS the proceeds from selling our only source of ca$h flow (the refinery) PLUS $200 Million drawn from the Loan Facility PLUS proceeds from selling IOC's drilling assets PLUS the office furniture in Cairns. RUBBISH has been given to us so far as an explanation

go back to the "disgruntled employee" thread detailing gross drilling incompetence.

Speaking of that posting. Employee deaths on the seismic line teams? Anybody know if that was true?  I'd never heard that mentioned.

[oliver.gump]

I want to know how in hell they spent the $401 million from TOTAL PLUS the proceeds from selling our only source of ca$h flow (the refinery) PLUS $200 Million drawn from the Loan Facility PLUS proceeds from selling IOC's drilling assets PLUS the office furniture in Cairns. RUBBISH has been given to us so far as an explanation

go back to the "disgruntled employee" thread detailing gross drilling incompetence.

Speaking of that posting. Employee deaths on the seismic line teams? Anybody know if that was true?  I'd never heard that mentioned.

Yes, its true. I have stumbled across a document that details the internal investigation of one of the events, and that report internally referrs to a previous fatal event.

I wanted to attach it, but it is 6MB and too large to upload, so I have cut it and just uploaded a few pages.

The document was forwarded to me by a former employee who was appaluled when nothing made the press and the widow got shafted.

[oliver.gump]

I want to know how in hell they spent the $401 million from TOTAL PLUS the proceeds from selling our only source of ca$h flow (the refinery) PLUS $200 Million drawn from the Loan Facility PLUS proceeds from selling IOC's drilling assets PLUS the office furniture in Cairns. RUBBISH has been given to us so far as an explanation

go back to the "disgruntled employee" thread detailing gross drilling incompetence.

Speaking of that posting. Employee deaths on the seismic line teams? Anybody know if that was true?  I'd never heard that mentioned.

Yes, its true. I have stumbled across a document that details the internal investigation of one of the events, and that report internally referrs to a previous fatal event.

I wanted to attach it, but it is 6MB and too large to upload, so I have cut it and just uploaded a few pages.

The document was forwarded to me by a former employee who was appaluled when nothing made the press and the widow got shafted.

There has never been any formal acknowledgement that these deaths occured.

[Stavros]

The Seismic Team deaths were`¨reported¨ on Ya Zoo . . . I don´t remember by whom.

When specifically asked IOC´s PR folks in an email, they refused to respond.
I have a ¨Return Receipt¨ indicating that they did, in fact, receive my email.

HESSION MUST BE PROSECUTED AND PUT INTO CHANGI PRISON . . . plus 20 strokes of the cane
They don´t issue pink garb, put perhaps they let inmates wear their own pink ¨leopard skin¨ thongs.

[jft310]

Let's talk facts . Oil Search used a 33 percent dilution of their stock to build PNGLNG . Now they are issueing 27 percent more shares to buy Interoil . This talk about low finances just shows the differences between a Botten who has never been afraid to use his stock for good purposes and then a Hession who has never issued stock and thus our cash position is shall we say weak ???
Phil issued stock quite often for good purposes like drilling , etc . And the market gave him the money , the offering at $75 was over subscribed because of the promised drilling . Can you see a difference in style?
To compare we ate giving up a 30 percent interest in one LNG plant for a minimal interest in 2 LNG plants . Our ownership position is to low in this deal . And yes we can get better terms if you vote no deal !!!

[jft310]

Their drilling experts were not so much experts, The seismics on their slides showed both drilling attempts way off where the seismics showed the formations to be . Can't make this stuff up guys .

[oliver.gump]

Their drilling experts were not so much experts, The seismics on their slides showed both drilling attempts way off where the seismics showed the formations to be . Can't make this stuff up guys .

Speaking to some of the drillers that were involved with the entire Ant-4 abortion, what was transpiring daily was a demanded ROP which was impossible to meet unless the WOB was increased significantly. With the WOB too high, the drill string flexed in the hole and canted the bit. This coupled with the massive WOB caused the hole to deviate all over the place, which was only aparent when trying to trip OOH, and the drill string bound tight on the inner radius on the turns.

Wahoo was another example of remote armchair drilling management failure, as their drilling fluctiated between under and over balance and they had a kick and a fire, and rumour is that one person was killed, but I cannot confirm that yet... still reaching out so I may get that confirmation.

What was going on is that regardless of the drillers ability at the well site, the shots were being called in a micromanagement fashion from Singapore, by people that were business managers, not drillers.

The amazing thing is that more people were not killed.

Exploration/drilling has so many SVP's and VP's and managers that there is no room left in the payroll budget for any actual drillers.