Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

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Message: Re: Hess AGM next Thurs.

May 10, 2013 02:07PM

Let us hope they see some real potential in the seismic data, and then it really will not matter if Hess wins the proxy fight. Besides, the real power in Hess lies within the company itself. If Hess were to lose five Board of Directors in this proxy vote, it would not mean a thing. There are 14 of them. These five newly appointed Directors would find themselves in a toxic environment if Elliot's claims were true about the Board's relationship with John Hess. If John Hess was concerned about these new directors, do you really think he would voluntarily leave his position as Chairman of the Board?

In the short term, Hess does not need to worry. He retains control of the company’s operations. In the long run, that is a different story, he needs to perform and provide a return to his investors. The best thing Hess can do for himself and Hess, is by making better choices that will move the SP north. I hope that the data they collected on the Beetaloo Basin will do just that.

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