Barry Minkow is an ex con - if you can suspend your disbelief for just a moment or two apparently this is a good thing - apparently he will help you find the criminals. Good grief you could throw a stone on Wall street and have 50% chance of hitting one.
Barry is playing with semantic definitions. Because IOC aren't ready to produce LNG so then they can'g count as reserves. However, two indepenedent research groups both agree that the resources have in the order of, say, 7 TCF's of natural gas - this is expected to be increased since they have drilled the other end of the gas zone ... Soros has bought big time, MS has as has Susquenhanna (apparently they are well known), Stansberry.
IOC also have earned Guiness world record for gas flow, twice.
If they have oil then it's a cash machine (know within a couple of weeks or so). If not they have to wait to 2011 for the first cash and 2013 for the full cash flow.
Oh, and PNG is right outside China - wouldn't be surprised if they did a deal.
I have total confidence in IOC, there might be short term blips but long term a great story. If that's their best short, pah!
rich
