Recent

% | $
Quotes you view appear here for quick access.

InterOil Corporation Message Board

  • iluvioc iluvioc Apr 30, 2013 8:53 PM Flag

    Just my thiughts

    Been on vacation for the last 10 days. Here is my 2 cents. I have no special insider info just my reading of the tea leaves. Phil resigns, why? Lets go back 10 or so years ago. After the financing of the refinery was done the refinery was built IOC purchased all of the BP and Shell commercial properties. 60% of the PNG gas retail stores are owned by IOC. The BP negotiations went OK but the Shell talks were difficult. Shell was very unscrupulous in their dealings. They thought they had a inexperienced management team in IOC and hoped to screw them out of what was agreed to. They thought wrong, IOC came VERY much on top of the talks and both parties would remember this occasion. Here is my take. Shell is the partner. Shell came in with an offer that the IOC BOD could not ignore. Phil basically said BS I'm not going to deal with these AHs.. My guess Shell came in at about $2.00 mcf +..Taking a lower offer would have made the share holders very angry, justifiably so. The PNG Govt loved the decision, a very good anchor against XOM and of course the markets will like this as well. I expect XOM and others will also have some involvement in the sell down as well. What could muck up the works? Some SM who did not get the deal may just buy IOC out right. I doubt that would happen but the BOD was concerned enough to put a poison pill in place. There is a lot of history to this company many are not aware of. Shorts are clue less even many longs have no idea whats really going on. We will know soon if I'm right or not.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
IOC
40.99-1.25(-2.96%)May 24 4:02 PMEDT