Final and binding bids are due today 2/28/13. Board of Directors will meet in March with investment bankers to select a partner(s) for the sale of part of the certified Elk & Antelope gas fields. IOC has now twice stated that end date for bids is today. IOC would not have said that if they were not certain that there would be at least one very acceptable bid by that date. So now it's just a matter of the sale price which we know must be high enough to significantly increase the share price of IOC. It's over. Everything else is just noise.
I believe he said 30-60 days regarding plans for LNG plant construction. Typical Phil CC fumble, but that was a response to LNG plant construction plans question, to to disclosing the winning bids. Nevertheless, that fumble is crushing the stock. Volume will tell the tale if investors are actually worried. First comes announcing the winner, THEN come the details about plant construction etc.
Ah! That's it then. the 30-60 day bit. The market is taking this as a de facto postponement. It explains why they moved up the pps release. They don't want to have to say anything further until mid-May.
There is always a reason why a stock does not perform as we longs were hoping and expecting.
Time to take advantage of a price in the 60s longs!! Ain't gonna be here for long as you know. Today is just typical EPS CC bs... like we see 4 times a year... no different.
Deal to be announced soon... and even if the deal is a disaster (which it won't), the price should be in the 80's at a minimum! I'll take that kind of return in a month!!!!