I've read some of your posts through the years. The news today validates the story, but the issues with this company are, and always have been about strategy, credibility, and timing. Because they telegraphed today's news for months, they set themselves up for a substantive sell off. And I don't believe it's a one hit wonder, meaning the stock could return to the mid $70's before stabilizing and recovering.
When the monetization process with Exxon gets closer, IOC will rally again. But again, this process is protracted, and when the pot of gold at the end of the rainbow has taken 8-9 years to get to this point, traders are willing to sell here and wait for lower PPS to get back in.