I disagree with those crucifying Joe Shea, Homeport, or Markvol for that matter. To assert that Joe was responsible for the sell off yesterday is just plain wrong.
There was a selloff yesterday because de Menenez did not sign. And then two other things occurred: One, that the Sao Tomean delegates said in mid afternoon that the Nigerians are difficult to negotiate with and that the block selections favored Nigeria at the expense of Sao Tome. And then later in the afternoon word filtered that the major hang up is still technical competence vs. higher signature bonus. IMHO that is what really sent the price into a free fall. That issue was supposed to be resolved months ago. The good thing is that there was some heavy buying right at the end that lifted the share price.
To blame Joe or Homeport for that matter is as ridiculous as blaming Mark that we dont have awards yet. Actually homeport and mutwadadi are the only people that have been proven correct thoughout this whole process. So why should they be hung out to dry? So homeport, thanks for your input, I greatly appreciate it even though its not always something I want to hear. And obviously Mark thanks for taking the time to update us.
Which leads me to my next point. What do you think of this anonymous message posted on the blog last night. I realize it could be a prank but it would be quite an interesting conlusion. Here is the post:
Watch very closely this weekend for the news.
I`ll site my sources as very close to the lastest meetings. Saturday, around 11:00am Pacific time release for those looking for PR`s, if not leaked sooner.
I`ll state simply, that one of the principles was told they`ed be cut off completely, and all bank funds withheld if they didn`t fall in line with the agreed upon awarding and the awarding of some blocks would go ahead without the sign off.
It will be dealt with in due course to all objections, but the majority were in agreement that the awarding must be completed.
Both principles likely will be in Paris to make their case this Summer, but that will not impede the progress for awarded O&G`s companies in the interim, they`ll have complete reassurance of this with backing of U.S. interest.
By Anonymous, at 9:49 PM
