I agree with you that Phil would have the most clout.
However, it's not that difficult to file a class action lawsuit against IOC and Hession.
All you need is a knowledgeable lawyer willing to take the case on a contingency basis.
Many years ago, I initiated a class action lawsuit against a NYSE company ( made the front page of the WSJ, no less. LOL ).
We settled ( I had a shyster lawyer) but I recovered my losses.
Sounds to me to be Northern Trader , just under another id.
Regardless , he's an idiot who didn't learn from last weeks' lesson: promises of payments in the future are "pie in the sky" and even if contractual, can be broken.
Words from the most respected poster on SHU regarding this rape, err, no "deal" by Hession:
"Fool me once, shame on you. Fool me twice, shame on me."
Well said, Petreng1
And you choose to imitate an ostrich.
"IOC didn't fufill their obligations to receive the payment"
I've had this debate with ostriches like you many times before.
Seven years of it and I like my record.
I'm finished; good luck with your "hopeful " investing.
IMO : 100%.
Its a done deal: blessed by everyone except current minority shareholders.
Only question is the final deal price; can it get better ?
Probably not, imo.
If Phil antes up some money to file a law suit ( 50- 50 bet , imo ) deal price goes up ( after pps drops on initial news).
If someone else comes in to bid ( highly unlikely) , deal price goes up.
Just my two cents.
All true EXCEPT YOU ARE COUNTING ON IOC shareholders REALIZING a FUTURE value of the CVR'S.
You completely ignored my point that EVEN a CONTRACTUALLY REQUIRED certification payment was wiped out, over night.
Given what happened last week, there is absolutely NO CERTAINTY regarding the future value of the CVR's., nor of ever realizing such value.
OSH, Total and Hession have proved that point.
The current pps also has obviously , severely, discounted such CVR'S.
Your wishful thinking is what misled current IOC shareholders.
I GUESS YOU DIDNT LEARN ANYTHING FROM LAST WEEK'S LESSON.
" InterOil shareholders will get much less than the previous Total deal was going to pay them."
It is VERY important to note that this is the SECOND time that Total has managed to negotiate a payment less than the first time.
In December 2012, Total and Phil agreed that Total would pay , up to $5 Billion , for E/A, subject to confirmation of E/A size.
IOC's bod rejected such deal and Phil was fired 4 months later.
Then Hession signed the , less favorable, deal with Total in December 2013.
Yeah, we also were led to believe Hession would provide us with riches.
Everyone also thought E/A was "pure gold".
Didnt you earn anything from this last weeks' rape of IOC?
Its exactly your kind of thinking , and hoping, that led to such current misery among shareholders.
OSH has screwed IOC shareholders, several times already; do you really think that the road ahead is paved with gold? Total was contractually required to pay IOC shareholders a certification payment. How did THAT work out? And the FID payment?
THESE WERE CONTRACTUAL REQUIRED PAYMENTS !!!!
Pavel has been as wrong on IOC as much as anyone. Why would you trust him now?
The analysts have ALL been wrong, FOR YEARS !!!!!!!!!!!!!!
Didn't Pavel have a $100 plus target on IOC at one point?
Thank you Phil, Hession , Botton and Total.
Of course, Oliver.
I'm just say'n that all the crying and whining is misplaced.
People here must take responsibility for their inaction The writing was on the wall, in bold paint that Hession was a #$%$.
I was NOT the only one who warned; YOU , and many others, were warning , long ago..
Tell that to your "buddy" Silvertreak" who had been , endlessly, promising $100 pps.
I notice he has been awol since Friday.
Probably too embarrassed to tell his wife the Mercedes is off the table.
I rarely take pleasure in others' misfortune but , in the case of Getitwrong, I am willing to acknowledge extreme pleasure at his misfortune and risk being labeled a "shallow" person.
He was responsible for as much misinformation as almost anyone except Hession.
He,single handily shut down and closed off intelligent discourse on IOC and was, in my opinion , the biggest buffoon on SHU.
Call me what you will but I have ZERO sympathy for this close minded jerk.
JFT BELONGS IN A JAIL CELL, imo.
So much hand wringing and crying about the raping of IOC.
What did you expect?
He was forced out of Woodside due to his error of judgement re the Browse project, , hired by a desperate bod at IOC, scuttled a $4 B deal with XOM, NEVER bought a single share of IOC with his own money, was, at best, less than forthright with material IOC information, misled shareholders repeatedly, stuffed the bod with his own cronies, over staffed the exec ranks with his buddies, over promised and under delivered, structured his pay package to incentivize his destruction of IOC AND YOU ARE SURPRISED BY THIS RAPE OF IOC?
The shame is on YOU., IOC shareholders.
YOU refused to see the writing on the wall. IT WAS CLEAR AS THE NOSE ON YOUR FACE. Obviously, other shareholders saw through Hessions obfuscation and and misinformation and sold their shares; hence the $30 pps.
I posted endlessly that Hession was an incompetent #$%$ who was in IOC solely to benefit himself.
I was bashed endlessly.
Your only hope now is that Phil ponies up some money and files a lawsuit to block this horrendous deal.
Otherwise, time to move on.
I have to laugh at all those who bashed me mercilessly and who are now crying and whining.
Especially the SHU #$%$s such as JFT and GEITWRONG.
I think this is a "done " deal and will go through.
Phils comments yesterday ( or today ? ) lead me to believe he will throw in the towel and not sue to block the deal.
Thus $40 pps is probably the floor.
If anything, deal is done at approx $40 and can only get better via an offer from XOM or someone else ( which I doubt).
Sell some September $35 puts and "bank" the premium.
WHO ? !!!!
Who didn't see this coming?
Who is surprised?
This "deal" was telegraphed for months.
It was clear that Hession was going to screw shareholders and make himself rich
Hession makes a fortune; IOC shareholders got screwed.
Hemi has a close relationship with a board member and has acknowledged such publicly. He was also one of the few shareholders who was invited to join officers and directors at a post agm dinner and shared transportation after such agm.
JFT has Wayne Andrews on speed dial. You think W.A. isn't still in the "loop"?
W.A., at one point, owned more shares of IOC than all current officers and directors COMBINED !! ( Don't know, and don't care, if he still owns that much).