Longs are OWNERS of the company and have a legitimate interest in the companies goings on. Bashers are not stakeholders, are paid to slander, are obviously liars, why anyone would even compare the 2 is idiocy.
The funny thing to me is that some people here have been sucked in by a few paid bashers that have been here 6 years...why? Why bash a stock for 6 years if you have no positon? If by their own admission often dont even have a short position on? Why post over 10.000 posts in 6 years? Why say that maybe there wont be a very high price on the SD, when 4 years ago you said there was no gas, that it was a scam , a fraud? Which is it? Lots of gas, but may not get top dollar? Or a scam with no gas?
Do you think the the big insitutional buyers that bought the scondary at $75 did any DD? Do you think Cap Re was satisfied with the gas being there and a range of what it would be worth on a SD? Well know the shorts acknowlege the gas is there too. Well if thats so and the bigs felt the proof was sufficient and that $75 was a good entry point, well who has the ability to gather information Bonk? Or Cap Re? Since the secondary the resource has been more definitively proved out. T2 was found, huge, and validated by a SD with a large exploration company, after through analysis.Or did PRE simply go off on a whim, an uneducated guess to front a company 100 million? ( the shorts say if the deal doesnt close they get paid back....but if IOC is so cash strapped and has no value, how would they pay it back?) PRE must be fools. Their shareholders wont be happy when they learn MGMT threw away 100 million without checking out IOC...rediculous. Now A3 has proved the EA resource is even bigger and better then known at the time of the secondary as well.
So it seems clear to me that if you want to believe a message board poster, that has changed his thesis numerous times as he has been proven wrong, and now his thin ice is that the stock might go down on a deal? That T2 wont provide additional value in the year to come? That IOC is overvalued at .50 per mcf?
Well I have a bridge to sell you gullible fools that have been sucked in by the Bonkerics supposed eloquence. I bet you have been the victim of the West African Online scam too,
These guys are a dirty and compensated to spread FUD as the day is long/
Sentiment: Strong Buy
Great post Wantok! Spot on. You really must have nailed the story as it quickly drew out bonk and eric and created a serial posting frenzy from them. I think the posts in this thread hit a nerve.
If you werent paid, why would protest it so much....who said "me thinks thou doth protest too much"....ohh yeah that english guy.
No adult professional spends 6 years, posts thousands upon thousands of posts, wether having a position on or not, immediately responds to a post whenever their name is mentioned...etc...unless paid. Period. You think they spend 24/7 monitoring the board in case their name is mentioned? They get a phone call an email a text, whatever , from their short crony cast of charecters. Its a network, from PNG bureaucrats too Aussie and American hedge funds to US bloggers (minkow etc, SA, Montley fool, ) to snake like bashers, tonkas and California phoneys with hedge connections.
Funny that after all these years you guys are finally just figuring this out. But congrats on hitting the open nerve...looks like you found truth.
Sentiment: Strong Buy
Wow! It really drew us out. You realize that I post here routinely, so everything draws me out. Anyway, I am on hold as I type, awaiting a Skadded Arps attorney to pick up the call, at which point, I will stop typing...until I get the next text. Gotta run.
I echo what Eric wrote. Only reason I post here is for fun. The lunatics, stalkers, fanatics, apologists, hypocrites, sycophants, and paranoid weirdos make it a hoot. The sad fact is there is little civil, intelligent discussion on this board. There is the occasional exception, particularly when gentlemen like Raiseyou are involved, but even then it's not long before the wackos bubble up from the peat bog to ruin it (eg. by attacking reasonable longs that violate the SHU Code Of Nuttiness even though this is a Yahoo MB). I simply enjoy poking holes in rubbish arguments and getting the attack dogs all foamy about the mouth. Cranks like Getit are particularly enjoyable - telling lies for years, attacking others for "distorting", calling them criminals, engaging in surreal banter, and then slinking back to CHU to say "it's not worth it". Love it. And I actually learn a lot from these people - whether it be short ideas from their long positions, or the behavioral investing concepts that are in abundance.
Find me a more enjoyable and eclectic group of wing nuts and I'll head there in a heartbeat.
Sentiment: Strong Sell
1. That was a very succinct and strong presentation of the long position. Well done.
2. I am now and only ever have been long this stock. I first purchased shares on March 10, 2010 at over 71 bucks a share. Fortunately for me, I purchased most of my position in the 40s so I am above water at the current pps.
2. Who are actually the people who are sucked in by Bonk and Eric. Yes, I read their posts and respond civilly and, dare I say, cordially. They do not frighten me or anger me. I just don't happen to agree with them regarding IOC's prospects.
3. There are a group of people that are sucked in by them. Bonk and Eric create a visceral response, they get under your skin, they are "liars" and "distorters" that must be stopped at all costs. They are talked about here. They are talked about on SHU. Members of SHU post with them here under different aliases.
They are an obsession. Personally, I don't think Bonk or Eric are paid to post here. I just think they like raising your blood pressure.
But that's just my opinion.
Clearly, you are talking about Bonk and Eric at least. But I don't care what side of the bet someone is on if they provide information that can help me make smarter decisions. For over 1 year, for example, I had Eric on ignore. I guess I am not afraid of either of them anymore. I am afraid of the factors that control the pps, like IOC's perceived risk, credibility, likely resource information etc. The seem to manage the exploration side pretty well, the communications/pr side horribly and I personally am not impressed with their ability to close deals with the big boys. Time will tell on overall strategy, but even calling their plans strategy gets a little scary whenever you listen to Phil speak. Have you ever listened to his presentations? Just does not come across as the brightest bulb on the tree, sorry. I'm in IOC for the resource, not the management team. Every day, I pray for a takeover, so I no longer need to worry about whether Phil is screwing up today.
Chandler being a big investor says a lot to me... his basis is near $60. Its possible he is a complete fool. Supposedly he got to know Phil and Colin very well before dropping 500 million in IOC. I'd imagine that after his sino forrest debacle he would be ESPECIALLY careful, especially on a controversial investment. Perhaps he is really a #$%$ after all. Perhaps Bonk is better informed, and smart enough to turn 10 million (his starting capital) into 1 billion too. But more likely Chandler didn't check Phil, or what the PNG govt is doing and the interest of buyers and future partners. Maybe he just flipped a coin and bought IOC.
Dont forget the shorts dont care if IOC is real or not. The facts dont get in their way.
By the way Eric and Bonk have been wrong far more then right. About many things. Perhaps the mind of the moderates brain has one side selling bull... and the other side is buying it.
Please if you truelly buy into any of the short story...good luck in life, your a sucker.
Yep i guess if you think IOC wont cut any deal, then you have a problem. Funny that even the shorts have essentially conceded a deal is in the works though. Why else would the newest tactic concentrate on the low price IOC will get and the lack of upfront cash?
Sentiment: Strong Buy
There are other signifigant improvements since the secondary as well. Of which have been chronicled endlessly. Yes the shorts agree the gas is there...is it 6tcf (without T2) or 9 tcf (without T2). It hardly matters at a $60 PPS. In either case, at a very modest SD price the company is vastly undervalued. Well the shorts think only 6tcf....thats plenty boys...most likely very low, but plenty to make the PPS go much higher. Will IOC get a huge upfront payment, well eric now says he doesnt think more than 500 million...so i guess now they feel that IOC will get upfront money....just not that much...sound familar?
500 mill upfront on a SD at even $1 makes IOC an instant double. So if thats the low prediction from shorts now...I'll take It!
One who hasnt been sucked in by the psuedo educated bull.... brigade.
Sentiment: Strong Buy