Big Dog's Boom Boom Room Message Board

Sponsor

To: Bob Swift who wrote (169006)	5/25/2012 1:29:31 PM
From: CommanderCricket	Read Replies (4) of 178643

Well, that's the question. Wish I understood the shorts argument other then IOC isn't worth anything and it's all hype. The political situation is dicey, but the share price is discounted nearly 50% off NAV already due to it. My question is why would Shell be willing to buy Cove's NG offshore resources (East Africa) at above $2 mcf and someone not be willing to pay the same or more for IOC onshore NG resources (PNG)? Shell is rumoured to be one of the bidders for the asset and IOC states the bids are in. Unless 3 different independent reservoir engineering firms are into the Interoil (fraud), along with Schlumberger who performed the well tests, I don't see an argument against the values. There's something out there they believe in but I haven't a clue what it could be. Michael