Interoil Incest: Woodside. What Does It Really Mean?

[Movieguy]

We all know that Hession and many of Interoil's top execs came from Woodsde.  Though I agree with others on this board that a buyout (whenever) makes more sense for a super-major, it is Woodside that is most often mentioned in the press these days as a potential buyer.  So what is the attitude of Hession and his gang towards Woodside.  Do they have a fondness towards them and might view such a takeover as being welcomed back into the fold, or did they leave Woodside in anger and are determnined to stay as clear of them as possible?  Anyone have any insight or actual knowledge of their attitudes? Is the relationship and hindrance or an encouragement to a deal getting done?

[jft310]

Not sure but don't think Woodside made the govt list of approved bidders. Lots of other bidders amongst the National Oil Co's.

[Putncalls]

Woodside is not on the BOD?

[Thylacine-2]

We all know that Hession and many of Interoil's top execs came from Woodsde.  Though I agree with others on this board that a buyout (whenever) makes more sense for a super-major, it is Woodside that is most often mentioned in the press these days as a potential buyer.  So what is the attitude of Hession and his gang towards Woodside.  Do they have a fondness towards them and might view such a takeover as being welcomed back into the fold, or did they leave Woodside in anger and are determnined to stay as clear of them as possible?  Anyone have any insight or actual knowledge of their attitudes? Is the relationship and hindrance or an encouragement to a deal getting done?

Movieguy, I suspect they are neither swayed by fondness or anger.  There is no reason to suspect they are different than other professionals who switch companies.  Hession came to IOC because he saw it as a great opportunity for himself.  And he was able recruit people from Woodside he wanted on his team by convincing them it would a good move for them professionally.

Why do you refer to this situation in disparaging terms?

[Movieguy]

"Disparaging?" I thought it was rather neutral.

[ArtM72]

"Disparaging?" I thought it was rather neutral.

Neutral perhaps, but I question how fundamentally solid your thesis is...that somehow the sale of IOC to whoever in the next year or so is a likely event if not a foregone conclusion.  But then maybe I'm reading too much into your posts :-)

[Movieguy]

Yes, Art, you are reading too much into my post. I do not believe a sale of IOC is a foregone conclusion, though I do think that is the best way for the shareholders to receive true value for their shares. The purpose of my post was to evaluate how the large number of ex-Woodsiders in key positions at IOC affects any potential bid from Woodside.

[Putncalls]

Myself,
I would be disappointed if IOC was "bought out". This stock could compound tax free for over a decade. There are few investments like that these days and NG is as low on the food chain as you can get without buying a farm.

[Getitrt2]

I see no reason not to expect the IOC BOD and senior management to act in the best interests of IOC shareholders and themselves as with any normal company, and am not any more concerned about Woodside than any other. It also should be kept in mind that the major shareholders would play a direct determining role in any buyout or merger attempt.