Some more comical stuff. Some people have asked us why we bother. We will explain that here as well.

In fact, let’s start with that. There are a couple of reasons for this series:

• It shows what kind of bogus arguments are being used to scare you out of your shares, it basically deconstructs these arguments, which might be more difficult to do if you don’t know a lot about the industry
• It shows the sheer quantity of disingenuous information out there. This is no coincidence, we think that with this series, we have already demonstrated that there are people out there who purposely distort the truth, and make a full-time occupation doing so.

Now, some more funny Boston stuff, tomorrow we will show you that he’s not alone, we will turn our attention to a UCLA professor, who is highly impressed by this Boston (!). Actually, that professor argued as well that Boston was a lot less abusive compared to some of the longs.

We’ll see about that below, but first a funny one. This guy actually argued that Elk1 is a dry hole. Now, that original message (together with a whole host of his messages) has been removed by Yahoo (we wonder why…), but when we reminded him of that bold statement, here is his reply:

• And I’ve said that I was incorrect about this. Elk is worthless not dry. [Bostonkenmore]

In another message (also removed by Yahoo) he admitted calling Elk1 a dry hole a “mistake”. Hmm, a funny kind of mistake. How can one make a mistake like that? Was it a typo? Does he have a funny keyboard? No, of course not. When you write something like that you do that on purpose.

One explanation could be that he thought the well must have “collapsed”. After all, that is the theory he expounded, and which turned out to be complete nonsense without a single piece of evidence (see Daily Distortions no.1 and no.6).

We asked him why a major short, Andy Left, wasn’t writing on InterOil anymore. In fact, his latest report was more than a year ago, and he did write just before that that he didn’t see any reason to short IOC anymore. Here’s Boston’s reply:

• They haven’t written about it in about a year because nothing has really changed. You can read for yourself, why he stopped following the story at least for a time. [Bostonkenmore]

Nothing really has changed?? InterOil has discovered a second world-class resource and has the top to DST tests in in the history of PNG (and Australia as well). Andy Left remains silent..

When somebody pointed out that this Andy Left has a shady past, this is how he responded:

• A convicted felon at Citron wrote a negative report on IOC…hmmm yep thats a problem, lol..” Interoil bulls LOVE to attack the author of the report. I guess that this means that they can’t respond to what it actually says. [Bostonkenmore]

He does that on a regular basis:

• You can do what you like. But if you attack someone’s background it makes it clear that you can’t attack the actual argument. Like your charge that the geology is “funny”. What’s funny about it? [Bostonkenmore]
• Oh yes…and the bevy of attacks the author as opposed to the content of the posts can only mean one thing. The shorts are right. [Bostonkenmore]

Let’s see how he treats IOC people who are positive about InterOil, like a Business Week reporter:

• “Marcial wrote positive stories about ioc. He has been with Business Week for 20 years and before that about 10 years with the Wall Street Journal.” [Bengalfarm]
• He’s also extremely controrversial. He’s written positively about many stocks that have ended up as total frauds. There was a chapter on him in the book “Sold Short” by Manuel Assenio. [Bostonkenmore]

Or analists, like Wayne Andrews:

• Wayne Andrews is a cheerleading analyst who has been consistantly wrong about Interoil. He congratulates them on a great quarter when they miss his own estimates by miles. He says that Elk2 wasn’t a dry hole because they raised estimates. That just tells me their estimates are a joke not that Elk2 was a success. [Bostonkenmore]
• Wayne has been dead wrong about his earnings estimates on Interoil’s refinery. This has been shown to you on several occasions. Its one thing to be wrong, but this keeps pumping the company and raising his “conservative NAV” even when the news is bad. You can’t consider him an objective source. [Bostonkenmore]
• Wayne is a managment stoolie and isn’t credible. [Bostonkenmore]
• It doesn’t change that his research on Interoil makes no logical sense. That he’s been dead wrong on his earnings estimates for years. Yet still reiterates even after they miss by a mile. [Bostonkenmore]

It’s a small matter that Wayne’s valuation of InterOil is not based on earnings but on net asset value based on the amount of gas (and his estimates look more and more conservative by the day), but anyway.. Some more:

• Wayne Andrews is a cheerleading analyst. He is indirectly paid by Interoil and his arguments make no sense. Plus he’s been wrong about Interoil virtually from the start. [Bostonkenmore]
• Wayne Andrews maybe an intelligent guy with a geology background but using him as a credible source is an absolute joke. He is a cheerleading analyst, no different from the analysts who cheered on internet stocks that were bankrupt months later. PNG were to fall into the sea he’d write a note about how positive this development was for Interoil. [Bostonkenmore]

He gets personal:

• All of the supposed research by longs on this board centers around personal attacks and taking the word of a cheerleading analyst who makes illogical argument. I think that soon enough it will be revealed that Interoil really doesn’t have the gas it claims. Some people I will feel sorry for, investors who didn’t know any better. People like Ken, stpioc, and others I will jump wiht glee at their losses. Of course stp won’t have any losses. He’s not invested. He will go to jail if found. [Bostonkenmore]
• When Interoil goes to zero….I will not feel sorry for STP. I hope that he is put where he rightly belongs. In jail. [Bostonkenmore]
• You are a paid poster. Why should anyone take you seriously? Wayne Andrews is a cheerleader. Why should we take someone seriously who cheerleads even when the company has a horrific quarter. [Bostonkenmore]
• STP is a paid pumper who like you will dissapear once it is proven that IOC is a big fat zero. [Bostonkenmore]
• We all know you are a paid pumper anyways. [Bostonkenmore]

He has repeated that argument (without any evidence or substantiation) over and over again, we’ll spare you the rest. Funny enough, it’s also what an UCLA professor has argued as we will see in another episode. And he used a very funny argument as “proof”.

And Boston gets more personal still:

• Tell you what. I’ll make you a deal. Why don’t you reveal your real name and location and I’ll post all the links you want. Also reveal what University you are retired from. Thanks. [Bostonkenmore]
• I think that you are afraid that the truth about you and your occupation will be revealed. C’mon what are you afraid of? Are you afraid that we will find out that you aren’t a professor at all but are in fact an Interoil employee? [Bostonkenmore]
• And I think people who post stuff like this in defense of a fraudulent company deserve to have their life-savings go down the toilet. [Bostonkenmore]
• I said that if STP acted in person the way he acts behind an anonymous cloak, he’d probably get beat up. [Bostonkenmore]

Hmm, isn’t he anonymous as well? And what about his guru Jaxson905? Yes, both are anonymous..

• You don’t have any rights as far as I am concerned. You are paid by Interoil to dupe retail investors so that management can be rich. You make up an academic background to do so. Interoil has been highly misleading about their exploration activities in the past. This has been proven and demonstrated beyond a shadow of a doubt. [Bostonkenmore]

We do ask him for sources, which he doesn’t like (it’s not hard to guess why), till the point of making threats:

• Oh and if you ask for another link I’m going to tell you to jump in the lake. [Bostonkenmore]
• I really hope that you don’t act this way in person. Because if you do you’d likely have several black eyes. [Bostonkenmore]

He also argues repeatedly that IOC has hyped previous finds (and our insistance on providing sources was related to that).

• There can be no doubt that both Interoil and RayJay have consistantly implied that they had “huge finds” and then took them away. To deny this, despite that you have been shown this on several occasions is to have your head in the sand. To deny that we have shown you several press releases proving this fact, is just more evidence of what you are. A PAID INTEROIL PUMPER. [Bostonkenmore]

Tomorrow we’ll show that that UCLA professor also does this, but when he comes up with his prime exibits, that leaves, well, quite a bit to be desired.

And these are just from a couple of months posting by this clown. He posted for a lot longer, and Yahoo removed a lot of his messages (probably because he fits the pattern of a paid basher as he posts on numerous message boards with a frequency that leaves little room for having another job).

Tomorrow we’ll have some quotes from a UCLA professor. He thinks this Boston guy is great.