It is evident from Wahoo-1 that the well had intersected the Lower Orubadi Formation at 834m, Talama/Lavao Formation at 1257m and Chiria Formation/Aure Beds at 1410m.
Wahoo-1 reached final TD at 1526m in the Middle Miocene Chiria Formation. As per the Final ISC Biostrat Report.
InterOil however, stated that Wahoo-1 reached final TD in the Late Miocene Miaru Mudstone (Orubadi Formation).
Wahoo-1 ST1 basically confirmed that the stratigraphy from the kick off point at 1295m was not the Miaru Mudstone but the Talama/Lavao Formation and the Chiria Formation/Aure Beds was intersected at 1407m.
The well reached its final depth in the Middle Miocene Chiria Formation/Aure Beds at 1590m.
The drilling of Wahoo-1 ST2 was not a good decision by the current InterOil Management. It was a
waste of shareholders money.Former Employee - F,
What people are saying...
Here we go!!! More evidence of mismanagement at the highest level which confirms the huge DISCRIMINATION shown against the National Employees during the redundancy exercise. I know employees that worked for ten years and received Kina 6k for their contribution to the company!
Imagine 750k USD, how many National Employees lives it would have changed if it was split with them during the redundancy exercise instead of someone who hadn't done A Days Work!
HOW DOES THE BOD AND CEO ALLOW THIS TO HAPPEN, were they aware of this? They must have been, but then they had to try and cover up one of their mates screw up in recruiting and restructuring the finance division, this when redundancies were already being handed out.
Further to this employees were made redundant as the position was no longer available but a replacement was soon in place doing the same job, in any other country the management would have been in labor court.
Employees of the company were made redundant but consultants who were costing the company thousands of USD a day were allowed to stay in their position until very recently. In my understanding this should have been done the other way around!Former Employee - H.,
My personal opinion and assertion of the current CEO Dr. Michael Hession and his management team for want of a better word remains -unscrupulous. I attended the first Town Hall meeting with curiosity to learn and know more about who this Hession was. We wanted to hear about what future lay ahead for us with regard to job security, recognition and reward, new benefits if any including verification on the much talked about employee housing scheme that was whispered and a hot topic for discussion especially among the PNG national staff.
He was introduced and gave a merry speech on the new vision and direction forward for the company, job creation and mentioned a passion for Rugby of which myself and a number of my colleagues grumbled about. He then made the first introduction of his first Executive Vice President - Keli Taureka. I reserved my doubts for a later time, hoping to see the light at the end of the tunnel, the new dawn.
The organization increased rapidly, Vice Presidents, Senior Managers and “Specialists”, some genuine but most were people who thought they knew better than the person next to them. Like a tsunami, they swamped the length and breadth of the organization and receded quickly taking away everything that could be taken in its receding path of destruction. Now there is nearly nothing left standing except relics and memories. I was very disappointed (still am) but not surprised when things started unraveling, going downhill.Former Employee - K.,
Is this group currently pursuing an injunction or lawsuit against the BOD/ senior mgmt.?
I directly and indirectly have about a 25,000 share block that is 100% behind you.
Thank you very muchShareholder - R.,