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Of course it is confirmation bias - look at the abject failure of IOG to deliver - but any early criticisms of this were thrown out immediately or put down to "learning" issues.
The next stage capital money is aligned with a work programme that could still change - surely there is a risk of that?
How many times did I write that in my experience GENERALLY speaking the smaller discoveries always tended to be more complicated or impacted by complications and ended up smaller and the bigger ones "better" - this was why I was always aware of the relative risks involved - and still do remain of course - and were ignored - that's called positive confirmation matey! All imHo.
Exactly Aligator - which was something I don't think many on here ever realised and still dont!
This isn't a get rich quick scheme or else someone would already have done it.
This was always why I was happy to talk to other suitors when it became very apparent that IOG did not have the skills set required for assets of this nature - which was around time RRE starting sniffing around. I was always very aware of the strength of assets involved - and often did post on this but was pooh poohed away - but thought myself - based upon some of the earlier commentary by the BoD - they were aware of this as well - which has become patently obvious they didn't really have a clue?
Unfortunately (for them anyway) a lot on here who have no direct experience of working in E&P thought they knew (significantly) better and stayed in the land of "confirmation bias" - where everyone keeps on patting each other on the back and pooh poohing ANY dissent - but most don't actually know what they are talking about.
A good lesson for people who get too emotionally involved when holding stocks and taking part with bbs? imHo.
I seem to remember Ezhik being very critical of armchair "management" critics - what a year ago?
That's a good definition of irony from my perspective now IMHO.
Not saying I don't agree with his points of course but...
Don't have time to comment but shows lamentable management "helped out" by NGC - that's about the sum of it and really nothing new?
Still a lot of work to be "finished" by end of June IMHO.
Hi Highland - thanks very much mate - appreciated - to explain and apologies for O/T it's not so much about me but a close family members problems (ongoing for last 6 years) which I had to leave before - as was going to have a heart attack trying to solve / mitigate (money simply doesn't solve everything - in fact can compound issues!) - but looks like we are at an inflection point and (imHo!) they've started to deteriorate further (having finally ostracised themselves from whole big supportive family!) and simply I have to find a solution before I die myself!!
My personality of course dictates, I will still poke my head in here and elsewhere - as and when I can.
Great news about getting some real PR for company now - here's hoping operationally Royston comes in strongly but as above and without wishing to throw simple platitudes - there's more to life than money!!
Best of luck all.
I don't know Sturm I'm a holder of PTAL as well but relative late arrival so perhaps I was not as impacted - just somehow don't feel as "let down" as here - but I get the "feeling" even over on the cult - there is more comparable dis-satisfaction with management performance and communications to date - and why is that (maybe their respective paid PR strategies that "create" expectations?) I haven't a clue - just IMHO - really got to go now do have serious personal issues that I would not wish on anyone - so literally pop in when I can - collective sigh of relief - best of luck all.
Highland - are you seriously comparing the number of respective project delivery and management (delayed) performance of JSE / PTAL - with very good consistent reasons provided for delays to share-holders - with TXP?
Come on, seriously! V busy so got to go now but read the wise pontifications of Sturm and had to reply.
IMHO.
I'm not patronising sturm - I'm saying your pontifications are crap, IMHO.
When people continually post crap I'll respond as well continually - last time I heard we live in a democracy?
It's everyone elses fault but the managment eh - lol!
All IMHO, DYOR.
Yep - a couple of years too late mind.
I wonder what the guys on here think about my protestations about the "management" not even discussing with RRE a few years back - because IOG was worth so so much more than the 20p mooted - lol!
IMHO.
Are you kidding Sturm - the reason why the share price is low is nothing to do with "trash"postings on bbs - it is the perceived "management under-performance" which drives this!!
It lays squarely on the fact that PTAL are a well managed outfit and generally no news is not inferred negatively - (unlike here) simply because they do what they say is on the tin - whereas we have a CEO who appears either stupid or has at best been disingenuous with the truth (how on Earth could end of Q4 Casca online still be achievable when he was pronouncing as such - when we have seen equipment deliveries etc which would have made this totally unachievable!) about previous timelines and the need for placements.
Had there been better communications with specified reasons about "delays" not cans getting kicked down the alley(s)(if indeed they are real delays and not unachievable figures picked out of the air?!) supplied - and even if due to honest mistakes by TXP "management" then I think you'd find there is no "trash talk" on bbs.
As another example - look at JSE - probably one of the best management teams on London listing admittedly - but it looks like they may miss their deadline of Montara start up "end Feb" - (or equally they could already have done so and are waiting for production profiles to RNS) but do you see one trash post or even negative comment about this on any BB?!
The reason why there is "trash talk" on bbs materially is not because - of MMs not "shorters" or not people wanting to "get in lower"!!
I'd be interested to see a "correlation or study" as to the number of "trash posters" on bbs versus management performance and communications!!
As ever all IMHO, DYOR - I have other personal stuff going on at moment so don't take non reply as rudeness or implicit acceptance.
Okay so straight away you need to div that revenue figure by 2 - yes?
Then has all the incremental amounts been paid over to CAL over and above their 50% equity share?
Then we have potentially higher opex plus G&A costs than this year plus capex costs?
Re deltalo request to me over on ADV - apologies for not replying earlier - been busy elsewhere - the £65MM phase 2 carried costs is great for IOG but they've got to get there and their respective project costs to date have been relatively high.
I am nervous if Blythe doesn't come in as well as some investors claim - it could well do - but it may be simply an extension of current performance at Blythe - who knows?
We still don'y know about Southwark - so as per earlier post from me - I will NOT be buying until we see a financial look - ahead - sure I may miss director buys post close period etc etc but for me at moment significantly too high risks with bond over hang and potential placements etc?
Just my opinion and DYOR.
What is net figure to IOG?
Finnjavel, I'd "heard" that CNE "management" told exactly the same to one of their larger share-holders - and there is an argument CNE management had given a reasonable return to owners of the company consistently for quite a long time. Not very many months later after a very small activist share-holder got involved the management was forced out.
It's very simple to say - well if you're not happy well out - but as with HUR recently as well - had you taken that course of action you would have potentially lost a lot of money.
This is a free bb discussion board - why should people be told to sell when they go "against message" - especially when what they are saying is fundamentally right? This isn't just open to holders of stock - it is equally free for holders / non holders and potential holders to post on here is it not?
Surely it is better to acknowledge the POV or simply filter them - I had to - for a no mark recently and find it very satisfying - you could try that as well - why should they put their heads in the sand?
As ever all IMHO, DYOR.
That's really good Hard, lol - respectfully matey I'll just filter you then - as really as I say I wouldnae bother talking to you irl - so why bother on here!
Sorry I missed that Scott it's already set for 200 MCF / day now or is it maxx'ed at 100 MCF day because I'd be very happy to hear that - as I thought we still had extra equipment to purchase for 200 MCF/day?
Respectfully a 100 MCF/day onshore plant tied into pipeline isn't that big a deal but we'll have to agree to disagree matey. Have you seen the HM gas plant in Algeria - now that's pretty big!
All IMHO, DYOR.
Hard fair enough, respectfully I wouldn't normally bother to reply with someone of your obvious disadvantages - so why don't you ignore me - rather than then make jokes - as really not that funny either?!
I am not wound up - but take some satisfaction from thinking that - if it makes you feel "better". (LOL).
Very logical - out of interest where else in the world have they taken onboard similar o&g operatorship?
Hard by the way I thought it was you who "attacked" me in the first place with your ridiculous baseless accusations - I was merely defending my POV and respectfully if you say stupid personal things about me - they'll get called out for exactly that.
See my (bigger!) post on ADV - if you knew this about "construction sector" JM why didn't management?
This is also "O&G construction" - we pay the best and expect the best.
Our job is tiny and could have significantly better controlled in the first place and to blame whole sector again not good enough "reason" - the issue rests "elsewhere" and until people finally realise we will consistently under-perform (Production end Q1 is already relative under-performance btw!!). IMHO, DYOR.
I'm off out now but think you've missed my points ffs and I really don't think I can have been clearer. Respectfully the remarks about mask slipping reflect more on your intellect and experience than me, as surely if that were the case I wouldn't be so obtuse?
1. For a company this size the assets seem excellent.
2. The management is atrocious IMHO, excluding geology of course.
3. As a result of that, I am upset at the time value of money and opp costs of my money tied here.
4. I am also p***ed off at subconscious and sometimes conscious commentary often made on various bbs etc that appear to "blame" the whole population of T&T for the delivery short comings at TXP which is simply disgusting and short sighted.
5. So for the moment until value crystallises I'll wait and hold my nose a little longer, as I have a feeling I've been here a lot longer than you anyway.
Best of luck to all holders. All IMHO, dyor.
Fiona at sound?
I don't know that very well but dubai realise she was there?
I know she was at that other great share performer echo wasn't she?