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Wayne said possible HOA news with those on the short list mentioned on the CC could happen before end of Q2 but no promises. He said things are moving forward very well. He said they issued guidance and are sticking with the guidance because businesses need a plan to follow and that is there plan. However, the PNG politicians are scattered trying to get votes in their provinces and hence it is difficult to get them all together to accept IOCs plan. He said it is possible there could be a news release before end of Q2 stating the HOAs and IOCs plan pending GOV'T approval. We will see. Looks like all positive moves but also looks like into Q3 for approval.
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Thanx for sharing this Ebster. I just want to point out a couple of things:
You need to take Wayne's comments as a general direction and not as absolute fact. His job is to promote the stock and to soften issues such as missed deadlines. This subtle promotion comes across in his conversations and thus have to be decoded.
For example: "could happen before end of Q2 but no promises" - means that he is trying to diplomatically say that the deals will happen in 3rd quarter.
Another example: "it is possible there could be a news release before end of Q2 stating the HOA's" but he just previously mentioned that they issued guidance and they are sticking with the guidance. If there is guidance then announcement of HOA's will already be defined in the process and there is no such thing as "it is possible".
Again I believe he is trying to diplomatically say that there will be no announcement until signed binding agreements with government approval are 100% done.
So is summary the information you were able to gather is fantastic, but in reality what I believe Wayne is saying is that there will be an announcement in 3rd quarter and that there will only be one announcement when everything (paper work, gov approvals, all signatures, etc) are completed.
As always, Please Do Your Own Research (indeed you just did), fwiw and most importantly Health and Happiness,
efi
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Agree with everything you said. Thanks efi!
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Efi
It is time for everyone to understand the difference between “possible” and “probable”. It possible that I will find buried treasure in my back yard garden, but it is not very probable.
I would think InterOil could not get away with a “by the end of Q 3” delay if the reason is political. I would guess a “by the end of July” type of update should be announced around the ASM.
"And maybe someday we will find , that it wasn't really wasted time"
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Will RC sit quietly for weeks? It hasn't been his style so far.
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Thanks for this ebster. Wayne is being fairly consistent with what he is saying, and like Hemi says, we need to read into this what he is most likely saying. First of all none of us knows what the CAs allow. We do know from the past that this has been used against IOC as people ask why no comments from IOC, Mitsui, etc., and it's due to living by what's in the CAs.
I am being conservative in my thinking and planning along the lines of what Hemi says; I'm expecting no announcements until after June 30. Not sure what that will do to pps since I would have expected the price to be in the $50s right now with the lack of any real news and all of the poorly researched and written articles that have been appearing. A huge factor of course is RC's buying. If he does intend to get to or near 20%, he can keep us propped up for quite a while.
Lots of DD and guts are in order, but things appear to be going very well with negotiations.
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From the call it sounded like the rate limiting step is the GOV'T approval (no surprise there) and that partners are in and negotiating with them is not the issue.
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Nobody is in place for the pictures.
Until the elections are over and the new government is in place, there won't even be any contact with PNG officials that really matter.
I'd concentrate on that and lower expectations of anything definitive in the next couple of months -- at least.
WA is just BSing things along to placate the restless natives.
VS
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IOC has no winner selected.
When IOC has selected winner bidder(s) there will be an announcement. I hope it's prior to elections. If so, it will be announced, and pols will run with it as they seek power and supporting IOC's project will get them votes. Obstructing it will cost votes. A newly elected politician may be more obstinate than one seeking re-election. It will get done when it's done and they are working through the supersized process right now. IOC has gone from having nothing to having the largest/best in Asia and most of the world too. It may have been easier to find it than to sell it with all the involved parties.
