PNG Energy Minister misquoted

We told you earlier that there was a high probability this was the case. Here is the proof..

Here is our earlier story, Mr. Duma was supposed to have said that PNG does not have the capacity to deal with two LNG projects at the same time. Apparently, this misrepresentation was enough for Minister Duma to issue an official statement catagorically denying that supposed statement.


14 thoughts on “PNG Energy Minister misquoted”

  1. Good find!! There certainly seems like a lot of politicking going on over there. err… maybe just people looking out for their own interests too.

    Hopefully ANT-2 puts all this worry about the LNG plant to bed.

    Again, thanks for all your work!

  2. I like that last line “Endorsing the two LNG projects on a playing field no less favorable than XOM led LNG project”

  3. As ususal great work STP…I love when Duma says that they expect both projects to proceed on the “same time line”. As of right now, we have spotted Exxon a year but the only way we could catch them would be an LNG Plant Approval VERY soon…

  4. Can you provide the source of that statement? Did the ministry initiate the clarification or did they respond to your question? It is hard to judge the reliability of that piece because the way it emerged does not differ much from that of the reportedly false statement. Anybody can compile a similar template and message in 5 minutes.

    Long IOC.

  5. Raigo, the source is in the statement, so is the autograph of the minister..
    But by all means, phone them yourself..

  6. Well given the thoroughness that STP has shown over the past 18 months that I have followed his site, I wouldn’t be surprised to find out this is how the letter was acquired.

    1. STP flew to PNG 3 days after the false newspaper article is published which involves 6 separate connections.
    2. STP dined with the Hon. William Duma laughing out loud about the craziness of the state of the housing prices in Las Vegas and the finer points of building a movable dam that spans 100m in width.
    3. The Hon. William Duma give STP a guided tour of parliament the next day at which point he dictates his statement in response to the false news release while STP is enjoying a glass of cognac if the minister’s office.
    4. The secretary of Hon. William Duma copies a pdf version of the statement onto a USB stick and hands it to STP after some subtle flirting.
    5. STP arrives back home exhausted due to jet lag from a 2 day trip and 7 separate connections and awful turbulence.
    6. Unwilling to let IOC investors wait 2 minutes for the truth, STP publishes the letter on his website as soon as he gets home foregoing a much needed bathroom break.


  7. Again, Raymond James needs to be held accountable. Some simple corroborration could have negated a lot of the “read between the lines” especially as the stock had upward momentum. Why would RJ not talk to Andrews? Why would they not talk to Dumas? These analysts are highly paid, you would think they would understand the elements of basic investigation. I am back in at a much less position. Thank you STP for all the good work you do. I will look with interest at subsequent RJ reports as I feel they will have a problem not contradicting themseves, which may give some people like me, a cause of action for what is potentially one of the most lucrative stocks in a very long time.

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