As many of you have you have astutely pointed out, the options volume is telling us important developments are on the horizon. For any of us long term followers/ investors in IOC, they do not come as a surprise (but with a tad bit of frustartion along the way!)
Several important Dominos are about to start falling. Actually, some already have.
1. Offtake HOA's have continued to be signed. 2. O'Neill, PNG MP's, and now Duma have ALL essentially backed the IOC Gulf project. 3. The December 9th Supreme Court ruling is almost behind us. O'Neill/ Somare...either is OK. 4. A sell down is about to take place with a major. I also think it's going to be for a separate 5mtpa facility apart from EWC/FLEX with participation in T2 and beyond. Neater, cleaner and satisfies PNG demands. COP makes sense 5. At least 1, likely 2, FID's complete before YE 6. The spuding of T2 which will deliver incredible news 90 to 120 days out.
The dominos are about to fall. Does anyone truly believe the huge institutional money would still be in IOC if they didn't have confidence in the outcome?! Their confidence shall be rewarded.
And let's not forget Phil Mulacek and his team!!! With a CEO like him at the helm, having started this as a one-man company, he has shown himself to be extremely capable, knowledgeable and savvy about everything, absolutely everything, that has to do with this Company and the dynamics involved in Papua New Guinea and IOC's markets.
The funny thing is that he's paid less than 1% of what the banker CEO's on Wall Street pay themselves. As far as I'm concerned, he should be given a 50-fold increase in pay, since he's seeing to it that Interoil investor's are getting rich and will be getting much richer.