No response from Phil...

[ebster123]

Recently I emailed PM regarding his stance on the current vote.  In particular I reiterated my stance that everyone needs to be out for their own investment, obviously.  Some play the options, some play the stock, even those on SHU.  Over the past few months I have emailed PM with appreciated responses within a day or so.  However, when asked if he and his folks (totally appropriate if they can and are) are working off a side deal to sell their shares at a higher price.  There has been no response over the past few days.  It could be he is very busy fighting for us all, carrying out his schedule or just did not see it.  However, the silence at this critical point is somewhat concerning that Exxon and IOC are buying up shares off the market for a higher price to seal their needed votes.  If legal then that is sadly Exxon's right but not good for us. I would assume if IOC management is also doing this it is yet another push that is not for the majority of IOC shareholders.  In the end, I am more concerned this deal may be all but done.  Anyone else have information?  I plan to vote today with either no or dissent.  Time will tell...

[Relker]

Did PM accept a defeat? It is possible. My theory is that he teamed up with some large shareholders and therefore needed to mitigate his counter-proposal. (Remember: he accepted the USD 45 per share bid which was a bit of a surprise.) Furthermore, he was asked to keep silent. Too much noise will hinder the coming negotiations.

[Kaliboo]

Recently I emailed PM regarding his stance on the current vote.  In particular I reiterated my stance that everyone needs to be out for their own investment, obviously.  Some play the options, some play the stock, even those on SHU.  Over the past few months I have emailed PM with appreciated responses within a day or so.  However, when asked if he and his folks (totally appropriate if they can and are) are working off a side deal to sell their shares at a higher price.  There has been no response over the past few days.  It could be he is very busy fighting for us all, carrying out his schedule or just did not see it.  However, the silence at this critical point is somewhat concerning that Exxon and IOC are buying up shares off the market for a higher price to seal their needed votes.  If legal then that is sadly Exxon's right but not good for us. I would assume if IOC management is also doing this it is yet another push that is not for the majority of IOC shareholders.  In the end, I am more concerned this deal may be all but done.  Anyone else have information?  I plan to vote today with either no or dissent.  Time will tell...

I don't have any information from Phil or XOM, but do know what I'd be doing if I were XOM and Phil.  Here's what it is.

XOM is very smart.  They want Phil to pull together his team of hot shot PNG explorers to pick exploration and appraisal well locations in all of these prospects they are stealing from us so they can find the next 50+ TCF of gas and maybe even that elusive oil field.  They likely have already made their deal with Phil.  Hence all his soft words in his last communications about the XOM deal.

Phil is in ego repair mode.  He needs to be the phoenix that rises from the ashes since his ouster from IOC.  XOM is the path to do this.  Additionally, his pocket also has been picked by the destruction caused by IOC management.  XOM again is the path to fix that.  Also, his reputation has been vilified by MH and the IOC BOD.  Phil needs to checkmate this guys.  Again, XOM is the path to do this.  They already have changed the location and plan for Well 7 to align with Phil's recommendations, resulting in the delay of the spud date.  That's a rock solid sign that Phil is the go to guy for future drilling plans.

Phil will come out of this looking brilliant.  With the deep pockets of XOM and an existing LNG plant and infrastructure, together they have a tremendous opportunity ahead.   The one we were hoping to share in a very big way; not in the very diluted form we will have handed to us if the deal passes. I suspect over time the market will view Hession and his BOD as the chumps who gave the company away for a song and the retail shareholders were the ones victimized by the company as well as by the big shareholders and institutions, claiming it was a "fair deal."

This is a win, win, win, win, win, win, lose outcome.  XOM, Phil et al, MH & the BOD, OSH, TOT, and PNG all win.  We, the shareholders lose.  Capitalism can be tough.

[ebster123]

Agreed, how are you voting?

[sageo]

Recently I emailed PM regarding his stance on the current vote.  In particular I reiterated my stance that everyone needs to be out for their own investment, obviously.  Some play the options, some play the stock, even those on SHU.  Over the past few months I have emailed PM with appreciated responses within a day or so.  However, when asked if he and his folks (totally appropriate if they can and are) are working off a side deal to sell their shares at a higher price.  There has been no response over the past few days.  It could be he is very busy fighting for us all, carrying out his schedule or just did not see it.  However, the silence at this critical point is somewhat concerning that Exxon and IOC are buying up shares off the market for a higher price to seal their needed votes.  If legal then that is sadly Exxon's right but not good for us. I would assume if IOC management is also doing this it is yet another push that is not for the majority of IOC shareholders.  In the end, I am more concerned this deal may be all but done.  Anyone else have information?  I plan to vote today with either no or dissent.  Time will tell...

I don't have any information from Phil or XOM, but do know what I'd be doing if I were XOM and Phil.  Here's what it is.

XOM is very smart.  They want Phil to pull together his team of hot shot PNG explorers to pick exploration and appraisal well locations in all of these prospects they are stealing from us so they can find the next 50+ TCF of gas and maybe even that elusive oil field.  They likely have already made their deal with Phil.  Hence all his soft words in his last communications about the XOM deal.

Phil is in ego repair mode.  He needs to be the phoenix that rises from the ashes since his ouster from IOC.  XOM is the path to do this.  Additionally, his pocket also has been picked by the destruction caused by IOC management.  XOM again is the path to fix that.  Also, his reputation has been vilified by MH and the IOC BOD.  Phil needs to checkmate this guys.  Again, XOM is the path to do this.  They already have changed the location and plan for Well 7 to align with Phil's recommendations, resulting in the delay of the spud date.  That's a rock solid sign that Phil is the go to guy for future drilling plans.

Phil will come out of this looking brilliant.  With the deep pockets of XOM and an existing LNG plant and infrastructure, together they have a tremendous opportunity ahead.   The one we were hoping to share in a very big way; not in the very diluted form we will have handed to us if the deal passes. I suspect over time the market will view Hession and his BOD as the chumps who gave the company away for a song and the retail shareholders were the ones victimized by the company as well as by the big shareholders and institutions, claiming it was a "fair deal."

This is a win, win, win, win, win, win, lose outcome.  XOM, Phil et al, MH & the BOD, OSH, TOT, and PNG all win.  We, the shareholders lose.  Capitalism can be tough.

Thanks,Kaliboo.....I completely agree with your response . Even tho' our extended family shares (many thousands) have been voted no , I believe we will lose.

As I lament about "what might have been", I think we will just " hang in there" . I have written a letter for the kids and g-kids for after I am gone to follow  "Exxon's and mh's rape of the retail shareholders" in the discoveries made in our almost 4 million acres in future years Should be an awesome story if it is ever revealed .[ They are getting many ,many tcfes that they are paying nothing for .]

If the "big one" ( Phil's oil pool) is located one day and is producing, that will be "another great story ."

I thank you and other fine folks on this board for (over the years) helping us in our efforts to "keep a stiff upper lip", as our English friends might say,in the face of crooked headwinds that we faced from our incompetent bods and mh . Per Red Skelton....'God bless' !

[ArtM72]

I suspect there to be a 75% chance that my Interoil investment has been roughly equivalent to a very expensive golf hobby for the past seven or so years. It has been a terrific story. I greatly appreciate every single poster here and thank you for what I've learned about this industry. Finding the gas in the right place at the right time does not guarantee a win. Finding the gas is only the start of a race by giant machines that compete to start sucking up money.

That 25% may still be a winner with Phil Mulacek turning out to be another Ken Iverson. Time will tell. We'll know when that happens. Sometime. Soon.

Best regards to all.

[Putncalls]

It wouldn't hurt XOM one bit if PM picked up a "no water drive" bone. The story may still have another chapter?

[johnwgrant]

If I were Exxon, I would be putting Phil on the 'consultant' payroll and getting his help in figuring out where to start drilling outside of PRL15....

They (Exxon) will totally control those discoveries! Wouldn't it be sad/funny if Wahoo had a ton of gas and we just drilled in the wrong spot

[thg]

If I were Exxon, I would be putting Phil on the 'consultant' payroll and getting his help in figuring out where to start drilling outside of PRL15.... They (Exxon) will totally control those discoveries! Wouldn't it be sad/funny if Wahoo had a ton of gas and we just drilled in the wrong spot

Wahoo does have gas, we did drill in the wrong spot, we drilled without managing the well pressure, we had a blow out, we reallised we had stuffed the well, and we plugged and abandoned because of the sheer embarrasment factor. MH and his team seemed to have all the answers and refused the advice from people with experience there. Wahoo went the way of Ant 4, with cost blowouts etc...

[jft310]

Fair Market Value for our assets can't have a cap of wells nor can FMV exclude certain assets as the Exxon agreement does . There is no appeal of the Yukon Supreme Court .