Stopped Making Sense

[Tree]

Who would have figured that a transformational deal for IOC, with a 30% stake in an 8 Mtpa Gulf LNG with the #2 LNG player in the world, TOT, fully endorsed by Duma, O'Neill, Kavo and a very pleased Hession, with exclusive exploration Farm-In negotiatons for all IOC licenses which have been assured to renew

COULD

be as damaging to IOC pps as Sept. 21, 2011 when Duma said PNG had no choice but to cancel IOC's Project Agreement and a couple of weeks later accused IOC of stonewalling bidders and was at the height of Project Zebra shenannigans with reports of $100,000,000 bribes?

So whose fault is it when the market is crazy?

[Getitrt2]

Fault for "crazy"? The big-money manipulators, the SEC, and other investors who panic out of fear, with stop-loss selling making it all easier/worse.

[Tree]

Fault for "crazy"? The big-money manipulators, the SEC, and other investors who panic out of fear, with stop-loss selling making it all easier/worse.

Could be Getit, along with mucho margin calls this week as well.

I really think TOT is the main culprit in this pps debacle.  Just look how they savaged IOC in their controversial 1st PR last Friday dignifying the IOC/TOT lashup.

The common objective of Total, who will operate the project, and InterOil, is to complete the delineation of the two discoveries and to continue to explore for new resources in the license area. Depending on the results, this could lead to a final investment decision by 2016 for the development of the fields and the construction of a liquefaction plant located onshore on the Gulf of Papua.

Scary phrases chosen by TOT:  'common objective'.....  'complete delineation wells'....."Depending on results, this could lead to FID by 2016"   These chill me more than Duma's 2009 PA cancellation notice in 2011.........sigh-chotic

The common objective of Total, who will operate the project, and InterOil, is to complete the delineation of the two discoveries and to continue to explore for new resources in the license area. Depending on the results, this could lead to a final investment decision by 2016 for the development of the fields and the construction of a liquefaction plant located onshore on the Gulf of Papua.

[Palm]

"Scary phrases chosen by TOT: 'common objective'..... 'complete delineation wells'....."Depending on results, this could lead to FID by 2016" These chill me more than Duma's 2009 PA cancellation notice in 2011.........sigh-chotic"

Yes, in other words, this is comforting words for THEIR shareholders. "We are being very conservative and making sure............". And for a company like IOC, without due explanation and filling in of blanks, it looks too conservative. I am trusting that many blanks will be filled in before long.

[cybersssss]

That is what big oil does. They let the small guys take the risk and they tag along more and more as the risk becomes lower. Eventually they will buy out IOC all together if things go well and resources are proven up or just further proven.

[mikesioc]

$600 million in 1Q14 seems to demonstrate enough conviction in the assets for Total to realize buying IOC will never be cheaper than it is right now.

[Getitrt2]

Agree on TOT, Tree, and on margin calls pressure this week, with the latter being a result of the Friday crazies, not a cause. It would appear that IOC has some responsibility also, not to mention the leaker, who of course might have some connection to the manipulators.