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InterOil Corporation Message Board

  • bonkthegrups bonkthegrups Apr 2, 2013 5:59 PM Flag

    Anyone notice it's April now?

    Just curious - what's the excuse du jour? Still sifting through all those great bids? Lawyers still crossing the t's and dotting the i's?

    I know I know, don't listen to Mulacek right? but then listen to him when he says "we'll know more over the next 30-60 days". Because "know more" is really clear.

    I see pumps are now contorting themselves into pushing into a May/June timeframe. I know, because that's what it was all along right?

    Painful reading on how PNG's bureaucracy getting torn up is "great news", and how O'Neil discovered the Lord and is now free of all corruption and influence.

    Hint: What's going on in PNG has nothing to do with IOC. IMHO nobody really cares about IOC. This is about massive Exxon bucks that are about to start flowing and who controls that cash. Period. I wonder why.

    How long do you think that PRE money will last?


    Sentiment: Strong Sell

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    • Bonk and Eric,

      I don;t think it is fair to characterize 6 years as a waiting period. Due to government issues that were resolved last year, I think it is more accurate to look at the timeframe as the bidding process was very likely on hold due to the election, etc. We are all waiting, but again, I think 6 years is a bit unfair given the issues IOC and PNG have come through in the last year or so. The bidding period was closed February 28th, and it has been acknowledged the bids are from pre-approved bidders. Let's wait and see but something will break soon enough IMO.

      Good luck longs

      Sentiment: Strong Buy

    • You can be DARN sure that in a month you can copy and paste the entire body of your message and just change the title to "Anyone notice it's May now?". A few other things are for sure.... The pumpers here will make up (imagine, dream) yet another reason to excuse for this farce of a company. They will issue more shares to raise funds to buy time and pay off people in PNG. The only thing I CANNOT explain is why this thing is still valued at over 3 billion dollars. I simply find this AMAZING.

    • C'mon Bonk: don't confused the longs with a reality check.

    • I have know people to wait longer for a a building permit for a hot dog stand. Well then again, this is just a multi billion dollar, multi Govt, multi Fortune 500 company, multi International banking deal with more bids on the table then I can elaborate on. Worth the wait boys and girls!!

      • 2 Replies to iluvioc
      • "I have know people to wait longer for a a building permit for a hot dog stand."

        Where does it take 6 years to get a hot dog permit?

        "We are in discussions, a vast number of companies on at least 3 continents have expressed interest joining our acreage following the Elk-1 discovery and flow test." - Phil Mulacek, Apr 4, 2007

        6 years to the day this Thursday.

        Sentiment: Strong Sell

      • Iluv: if you were not such an early investor, who really lucked out IMO as much as anything else, you would not be so flippant. How come so many other companies have been able to make deals...and yet IOC is always making you wait for your hot dog? IOC has retained, what, five sets of bankers over a period of some four or five years, and we are still waiting? Many buildings have been built everywhere, let alone building permits, during that time period. When was the last secondary? December of 2009? At $75? That had better be a kosher knockwurst....

    • bonk, saying what's going on in PNG has nothing to do with IOC and nobody really cares about IOC is a clear illustration of what kind of biased liar you are, and makes it clear to anyone with any sense and knowledge about all this that nothing you say can be trusted. Also, the demise of Petromin is definitely good news for IOC.

      Sentiment: Strong Buy

      • 3 Replies to getitrt2
      • Bonk's a liar for sure!!

      • "anyone with any any sense and knowledge about all this"

        So, that would be exactly nobody, right? Nobody knows what the heck is going on over there. It's clear from the hyperventilating and wild hour-by-hour changes in speculation over at SHU that none of you certainly do.

        BTW I challenge you to find 3 posts in a row in any SHU thread that doesn't have the word "shorts" in it.

        //Paranoia (adjective: paranoid ) is a thought process believed to be heavily influenced by anxiety or fear, often to the point of irrationality and delusion. Paranoid thinking typically includes persecutory beliefs, or beliefs of conspiracy concerning a perceived threat towards oneself. (e.g. "Everyone is out to get me.") Making false accusations and the general distrust of others also frequently accompany paranoia. For example, an incident most people would view as an accident or coincidence, a paranoid person might believe was intentional.\\

        Sentiment: Strong Sell

      • Oh, please, Getit, get over yourself and your absurd name-calling, which belongs on the elementary school playground. We are all adults here. Bonk is merely commenting, quite appropriately, of course, that is now April 2nd, and all we have are crickets and tumbeweeds. Where the heck is Bardack who virtually promised a deal in March? Why do you think management moved up the last call to February 28th? Think that was mere coincidence? This thing is going to drag on and on and on, as IOC drags on everything. They did get the latest round of PRE cash, which will last them another couple of months, perhaps, so they have a little breathing room for now. And they do have that shelf offering in the wings. Just wonder if they will get the hundreds of millions from the selldown before they are forced to offer some securities to the market. Or will PRE come to their rescue on cue yet again? Anyhow, am sure Shell is the one behind everything, and awaiting the big takeover.

    • IOC did not every state that a winner/ partner would be announced in March, only that their Board of Directors would review bids with investment bankers in March. This information and more is available at shareholdersunite IOC did state that they would only release information pertaining to sell down as required by regulations. Obviously there will be a sale. Petromin is history thanks to Prime Minster O'Neil and that means the corruption and obstruction to IOC is also history. Owning IOC is not easy; however those who own it will be richly rewarded, just ask JP Morgan who recently bought almost 6% of IOC.

      Sentiment: Strong Buy

      • 2 Replies to sailhappily
      • "IOC did not every state that a winner/ partner would be announced in March, only that their Board of Directors would review bids with investment bankers in March."

        Gimmee a break, sailhappily. Can you honestly type that with a straight face? Here is the quote form the PR:

        "Separately, InterOil announced that it has advised bidders with which the Company has been in discussions that the final binding bid solicitation period for the partnering process currently being undertaken will close on February 28, 2013. The InterOil Board of Directors intends to meet the Company’s advisors during the first week of March 2013 for the purpose of evaluating bids received and selecting our partner(s) for the development of the Gulf LNG Project utilising gas from the Elk and Antelope fields in Papua New Guinea."

        Only a Grandmaster Apologist can argue that they weren't stating a partner would be announced during the first week of March.

        Just admit they blew it again for [consult magic excuse 8-ball] reasons.

        How long is a string?

        Sentiment: Strong Sell

      • "Owning IOC is not easy; however those who own it will be richly rewarded..."

        Puhlease. You literally sound like a guy on an infomercial, and it is just not true. Period. It might happen. And it definitely might not happen. To think that IOC, with all these bigs circling it, is so fundamentally mispriced is simple naivete. Throwing out JP Morgan's stake as any sort of meaningful indicator is a red herring. First off, there was some discussion as to whether that was a firm position, or held in trust on others' behalves. Regardless, they likely have complex options positions surrounding whatever stake they might have, just like the shorts, so their true net position is hard to say. In fact, I imagine that IOC's options activity is as great as any other company with a market cap of $3.5 billion. Obviously a lots of bigs are employing option strategies to complement their underlying equity plays.

        Meanwhile, it is very funny how any and all news re: IOC is touted as good news...or certainly has no negative connotation at all. Cracks me up.

    • bonkthegrups Apr 2, 2013 6:55 PM Flag

      Your arrogant confidence will be your downfall.
      Enjoy your evening.

    • Must be just unbearable, holding all that great news in.
      Waiting for just the right time to "burn the shorts"
      This is gonna be a good month.

      Sentiment: Strong Sell

      • 1 Reply to davidyab
      • And I love how every bit of news - good, bad, or neutral - is great news. What did Pickboone say, "I have never been more excited"? Classic. And Stavros threatening poor Adam G over at SA? All the classic pumpers - Tree, Palm, Getit, Jft - still trying their darndest to keep the good vibes, while even the partial doubters like ellerslick watch their tongues, trying so hard not to be seen as doubters, naysayers, or....closet shorts. Even jdeo here is giving ioc_critic an earful for playing devil's advocate. And VS? Kicked off the SHU pump board? When will the madness end? If only we could hear more from Doublebagger/SB/Treasurehunter, who seems to have gone into hiding. As suspected, he likely sold in March, failing to realize the pump effort was not going to work. Anyhow, I apologize for the rambling, but it truly amazes how IOC can keep the music playing and the goalposts moving for so long.

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