"PNG's capital Port Moresby is facing fuel shortage after villagers blocked off the road at Hanuabada. Villagers have blocked off the road since last week after two of their men were allegedly shot dead by Police. The Hanuabada, Tatana and Baruni villages are along the main road that leads to the oil refinery where most fuel are supplied to the city.
Puma Energy marketing manager Don Lewthwaite confirm today. Some Service Stations in and around Port Moresby are turning away vehicles using diesel due to no supply.
Mr Lewthwaite said that the levels would continue to be short as long as the roadblocks at Hanuabada and Tatana and Baruni are maintained by angry villagers.."
I totally agree. Anything he says is pretty hollow as it is obvious that he will not be putting any of HIS personal money at risk with this stock.
Did you make money? But its still a POS?
You're in awe? Maybe you do need to shake your head and take another look at this MB its full of SHORTS! Do see board full of longs? I think what you need is an eye doctor.
Oil has been taking a beaten so I'll ride with IOC and watch what happens when Oil makes a comeback. In other words, don't let the Bull8888 scare you out until....
"Well funded but not worth investing my own money in" Michael Hession 2014-2015. Maybe Hession's IOC should start measuring drilling times in years, rather than days, months, or quarters. To think that this company could have been sold in 2013 or 2014 for over $120/share is amazing. Now even the CEO won't buy the stock in the $30s. Pathetic loser of a CEO. Let's hope that Chandler is finished selling for now. Otherwise, he could take IOC into the $20s. It would be comical reading the SHUbers excuses at at that point.
These wells were spudded almost one year ago. Shouldn't we have some definitive results by now? Our stock is in the thirties largely because IOC management is so slow in communicating vital information to its stockholders. If these two wells are successful in any kind of major way shouldn't we know about it so it can be factored into the stock price?
How about take 10% of the cash to buy back some shares. Show some concern for the shareholders and show some confidence in the company. Does Hession believe Total will fork over $1-2 billions in Q4 this year - as was advertised in their recent presentation ?
I honestly sold on the day that this POS peaked at 100 every share and never looked back. I am in awe at the level of the fervor of the passionate longs. I have to shake my head as I know so many people still trapped in IOC hell hoping, waiting for their day. Might I ask you all to step back to realize HOW MUCH TIME YOU'VE WASTED HERE?. Ya should bought AAPL like I did. Any investor with a modicum of knowledge can look at IOC chart and know this is a losing battle. Still I wish good luck and admire the passion still found on this board.