Interoil

My take on this is that the management are being very very oblique and dishonest with information. The past record of Mulacek lays the roadmap of the future. Probabilities are 95% fraud and the management is threading water. However, 5% chance that there is indeed sustainable gas and they will strike it. Put options payoff about the same as provided by the CDSs before the housing crash.

Interesting article from Sam Atar, former CFO of Crazy Eddie, no doubt an expert at detecting fraud. Not sure if he correctly nails Patrick Byrne (Sith Lord) who has some illustrious pedigree.

"Disclosure: I am a convicted felon and a former CPA. As the criminal CFO of Crazy Eddie, I helped Eddie Antar and other members of his family mastermind one of the largest securities frauds uncovered during the 1980's. I committed my crimes, simply because I could.

If it weren't for the efforts of the FBI, SEC, Postal Inspector's Office, US Attorney's Office, and class action plaintiff's lawyers who investigated, prosecuted, and sued me, I would still be the criminal CFO of Crazy Eddie today.

I do not own Overstock.com securities short or long. My research on Overstock.com and in particular its lying CEO Patrick Byrne is a freebie for securities regulators and the public in order to help me get into heaven, though I doubt that I will ever get there anyway.

I do research on InterOil for Fraud Discovery Institute. However, I do not own any InterOil securities, short or long.

I plan on meeting corporate miscreants, such as fifth rate crooks like Patrick Byrne, in hell. In addition, it is likely that InterOil CEO Phil Mulacek may join Patrick Byrne and me in hell, too. We will all fry together."