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InterOil Corporation Message Board

  • warrenbuffett244 warrenbuffett244 Feb 25, 2013 8:29 AM Flag

    Why the news on the 28th

    Must be clear news!
    One bid clearly better than the others??
    The levelof bids so high IOC fells the need to communicate to the market.
    IOC excited by the level of the bids
    When one acceleraed news its god when one delays its bad,
    Whats bad here is anyone short!! Oh I know short more!!

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    • If the company wasn't going to exist after Feb. 28th, it would required to announce it's FINAL quarterly earnings prior to it not existing.

    • good stuff here

    • on top

    • What can they possibly say on the 28th except that bids are due today?

      There will have been no time for the board to evaluate bids at that point.

      I would have preferred a cc in the second week of March when they could have provided an answer to who they were picking.

      It seems more likely that they will tell us what we already know, bids are due today. I don't see the point. It seems we will actually get less disclosure than more.

      Just my opinion.



      I don't understand it. While it is possible that they could announce a bid on the day that bids are due, that does not seem likely to me.

      • 2 Replies to raiseyou33
      • I don't think there is anything mysterious or conspiratorial (see bonk's ridiculous speculation) about this. They obviously have the year end work done, and I think they probably want to get the year end filing and cc out and done and out of the way, so management can focus on the bids evaluation with the investment bankers and partner selection, especially the CFO, who will be integrally involved. That doesn't mean they couldn't say something about the bids and plans for moving forward. I suspect the deadline is for delivery to the investment bankers, who are all over the world. Not having another normal quarterly cc until May does not mean they won't release news and/or have a special cc whenever required or appropriate.

        Sentiment: Strong Buy

      • The call actually is taking place after the bids are closed. Bid closing is PNG time and it will be March 1 in PNG at the time of the call. While I find it hard to believe that they will have a result to release, they should be able to give some details as to the number of bids and from where they came. That would say alot.

        Sentiment: Strong Buy

    • Why release earnings on the 28th?

      Well I'm no skeptic, but if I were I would note that IOC has alway announced Q4 results in March - last year on March 19, and the year prior on March 22.

      It seems that holding a conference call after the magic "first week of March" promise they threw out there might invite pesky questions, so not having to host a CC until May gives them lots of time to, ahem, you know.

      A skeptic might also note that the insider trading window opens up after they report results. But I'm shore nobody will sell before the, ahem, "big news". Of course if they do Kenny can just argue it's only to pay a tax biill or some other rubbish.

      Good thing I am no skeptic.

      Sentiment: Strong Sell

      • 2 Replies to bonkthegrups
      • This will likely be the content of their "annoucement" even if it did come:
        "The company has received several bids for "different" portions and wells. As a result more time is needed to evaluate these bids to assign the winner(s). Note that these bids will be contingent upon contingent and conditional negotiations that may potentially take placed in the future. We are currently drafting a letter to let our bidders know that the bidding has ended but we will continue further negotiations if the bidders have accepted the draft letter. We expect to draft letter by March 31st "
        I bet we will get nonsense like this JUST like what we have gotten since 2009!

      • Yes, but you forgot one important time that was just one day different. In 2010 IOC announced earnings on March 1. So most likely no connection in your dates bonk to anything negative. As long as they report within the time they legally must a week or two either way really must be ignored as being anything significant.

        Carry on

        Sentiment: Buy

    • Agreed Warren. I would have thought that they would have picked March 1st at the earliest hence allowing the bidding to close as planned. That would have allowed them to comment openly about the bidding, however this early eanings date coupled with the cc on the morning of the 28th I feel is IOC's method of communicating that they are already done with the process.

      Sentiment: Strong Buy

39.75+0.44(+1.12%)Nov 25 4:02 PMEST