DUMA looks to be very close to and tied to the short side.
His manipulation ties right to XOM stating that the major terms are agreed. Would he give a PNG rodent's hind parts about anything else, such as a pipeline or no? He should consider the island fortunate to have a resource that raises the standard of living no matter how you slice it. Ahhhh, but that's just it. he wants a BIG slice for his crotch pocket. At a minimum, I bet he bought up land around the project or port...and that's hiw motivation. Nothing else. But I also suspect a close tie to the hedgies who short this.
Its glaring to me. This person is a very bad, very dishonest "rabble rouser" and thinks himself a war lord. No, he will not lead a coup. He would screw it up and shoot himself in the foot, which appears to be precisely what he just did. The pipeline will go through and all three of the local inhabitants will get jobs. Who is he kidding?
No offense, deteroyah, but you simply can't think straight. If the gas was truly economically feasible to develop a "deal" would have been done a long time ago. The whole time Phil was diddling with sketchy EWC and spending $10 million of corporate funds on FLEX LNG shares XOM & Oil Search were sitting right there in PNG and I'm sure their doors were open to anything that made economic or strategic sense.
Is Duma & O'Neill a problem? Of course! The whole government is dysfunctional and corrupt.
The problem is you can point to a hundred reasons why the gas remains STRANDED but in the end the most significant hurdles are the COSTS involved and RISKS weighed against the potential RETURN on investment.
Sorry, this "buried treasure" story is too long in the tooth and too full of holes to be taken seriously.
It is people like you (along side iocs' shady management) who convince me that this is the best short in the world. SO how the hellll do you know what the "terms" of the deal are? For all you know...
a) "the deal" may have hit a snag
b) "the deal" may require them to actually show proof of viable recoverable resources
c) "the deal" may include that ioc will get 5% and government 50% and XOM 5%
etc etc... The point is, you dork, you have NO clue what "the deal" actually involves. ASSUMING there is still a deal..
save the fact, Mr. Stain, that the broker-money managers ON THIS BOARD and at SHU, have been cycling a term sheet around with specific numbers attached. Now, you can short against that and may be right, or, consider the what-if? What if, since Exxon did just say the MAJOR TERMS ARE AGREED, the terms being passed around are in fact true? How can the major terms be agreed and no announcement? Is this all about flushing shares to the billionaires who are so greedy they will stop at nothing? Yeah, the shorts get more and more certain they are right because the volatility makes them right. But there is motive to the ultra long to see it get smacked around as many times as possible. ONeil may be a little green, kissing up and letting this go on and on and on. So many were very accurately able to predict there would be no deal, and not even at the end of the exxon proclaimed 2 month exclusive negotiation period. Look, they ended the MAJOR AGREEMENT issues and told the investors nothing. DUMA jumped on the opportunity and hit the PPS once again. You cannot see the pattern you are quite stupid. Sure, you see it and you play it. Fine. My problem is a purely legal one. Major conditions HAVE CHANGED from "exclusive exploration of a deal" to "MAJOR TERMS AGREED" and the investors are subjected, once again, to a "company lapse" benefiting all the billionaires who can buy with impunity and the lucky shorties. At least you see me as a people. You are a human stain.