Silence is deafening....

[ebster123]

I can't help but feel bothered by the silence.  It smells like defeat.  MH should be sent to jail.  I understand PM and the bigs need to push for their individual needs but the history of IOC is both the representation of greatness of American business (that PM could pull off what he did) and the extreme fraud of American business (that MH could pull off what he did).  I am sickened, not just by the loss of wealth but more so by the loss of integrity in IOC's leaders.  I have sat at the bedside of many patients who were in the last few hours or days of life.  Some who had millions and recalled how their dealings made them rich but "I can't take it with me" and how they questioned what they did to get what they had.  May MH and the BOD be haunted by the history of their actions in their final breaths.....

[ArtM72]

Somehow ebster I think there are enough people who believe there are enough riches in the dissent option to win it for us, even though their instincts would have them otherwise voting "For". Not that rejection of the deal will be good for the share price short term but it would keep the dream alive.

What dream? The ouster of Hession of course :-).

BTW, IOC still has a good contract with Total and enough money to survive. We just need the CEO changed out.

[Spartina]

Well said Ebster... I will miss all of you.

[jft310]

My thoughts everyone is waiting for the vote results . Those of us who voted no dissenting can see the lack of net asset value in what Hession negotiated . We all know there are no guarantees with a no dissent vote but there are guarantees on Ant 7 results either . If common sense rules a deal with a capped value can't be net asset value , a deal with zero value for assets below E/A and outside E/A can't be Net asset value . One can be assured the type of compensation the CEO had to cut any deal without regard for value can't be fair to shareholders . Odds seem higher and better for a higher payment from a no dissent vote . Expenses paid by Exxon .

[johnwgrant]

Am I correct that only at/after the meeting tomorrow (in NY) will we know the results of the voting ?

In other words, there will be no news release until they put out a NR after the meeting tomorrow....

[kommonsents]

Seems to me that if PM has negotiated a separate deal with XOM (that makes sense to me) that the other large shareholders have also been busy doing the same (that also makes sense to me). XOM would naturally be contacting them for their votes and negotiating for same.

If the above is true, I think the deal passes. It is still probably cheaper for XOM than raising the terms of the "deal" for all and XOM gets to hide the true costs of the "deal(s)" which will benefit them for future deals..

For me?, it's time to move on to greener pastures with a greater knowledge of the crooked ways BODs and Management can screw over the shareholders. I have learned to NOT be such a silent, trusting shareholder in the future.

I hate to say it, but, this is not the first time I have been involved in a company where the BOD and Management have screwed over the shareholders, but it is the most blatant THEFT by management and the BOD I have seen. And we shareholders had the knowledge of what they were doing all along and still did nothing....

[jft310]

Best guess on new release is after meeting ????

[Kaliboo]

I can't help but feel bothered by the silence.  It smells like defeat.  MH should be sent to jail.  I understand PM and the bigs need to push for their individual needs but the history of IOC is both the representation of greatness of American business (that PM could pull off what he did) and the extreme fraud of American business (that MH could pull off what he did).  I am sickened, not just by the loss of wealth but more so by the loss of integrity in IOC's leaders.  I have sat at the bedside of many patients who were in the last few hours or days of life.  Some who had millions and recalled how their dealings made them rich but "I can't take it with me" and how they questioned what they did to get what they had.  May MH and the BOD be haunted by the history of their actions in their final breaths.....

We almost are at the next chapter, whatever that is.  I don't agree IOC is a representation of American Business.  Maybe it was when PM was reigning in that he's a US citizen or is he?  Maybe he's Canadian, can't remember.  But it is very much a foreign company, run by foreigners (non US), with all its operations in a foreign country and headquarters as well.  So this doesn't come across that way to me as it does to you.  As the saying goes, "out of sight, out of mind."  I presume the majority of shareholders are not in Singapore or PNG, but are in N. America and the US specifically.  I don't think this board and CEO have any concerns for shareholders at all.  We might as well be on another planet.   IF some of them lived in the US and engaged smaller shareholders it might be different.  On judgement day all accounts will be settled.  FWIW.

[jft310]

Interoil trades on the NYSE subject to SEC regs, registered in Canada operations in Australia and PNG . Or a foreign company subject to US regulation .

[ArtM72]

 but it is the most blatant THEFT by management and the BOD I have seen. And we shareholders had the knowledge of what they were doing all along and still did nothing....

I can't say that is the case, at least from my perspective.

Granted, there are multiple levels of communication operating on this board. But even this spring the corporate strategic vision first laid out by Hession was still being publicly promoted along with the clear financial path through to FID. Are there people on this board that didn't/don't share all they know? Of course. Are there people on this board whose agendas and investments have been manifest in posts advantaged by depressing market prices? I believe that to be the case as well.

Sure, some saw actions by Hession and asserted there was a troubling pattern forming before others. But to suggest the now clear sell out of the company by Hession and his BOD this spring was known by the SHU board and corrections were actionable? Not from my vantage point. I will point to the fire sale of drilling assets by Hession was an unmistakable marker, but that was not generally known until made public by Gump and Mulacek after the sellout was announced.

Kommon, I do share your recognition that this has all been a painful lesson. Each of us has our own takeaway. Mine has been a confirmation that the value of an investment is not determined by the value of the company's underlying assets or quality of its products.  For myself, as an individual who has bought and sold stock for 40 years, my lesson has been the value of any investment is unknowable.

That doesn't mean I don't hope the "Against" wins the day tomorrow. IOC is much diminished, but that does not mean it's not worth much more than $49US.