PNGBLOGS

Post Courier GULF Provincial Government says it will sue the State and the developer of PNG LNG Gas project ExxonMobil for more than two billion US dollars for what they claim to be failings in an Environmental Impact Study on the areas that will be directly affected by the project. In a news conference yesterday Gulf Governor Havila Kavo said the environmental study funded by the developer had not taken into account the negative impact this large scale project would bring to his people, especially the destruction to the marine life along the 400 kilometres from the Kikori Rriver and along the Gulf coastline where the gas pipeline is planned to be laid under the seabed. Mr Kavo decided to take this course of action after engaging a locally based environment company (Chem Clean Environmental Services) to undertake further study and to review and verify the EIS report. The environmental review and verification of the EIS report has been finalised and was officially presented to the Gulf

Post Courier GULF Provincial Government says it will sue the State and the developer of PNG LNG Gas project ExxonMobil for more than two billion US dollars for what they claim to be failings in an Environmental Impact Study on the areas that will be directly affected by the project. In a news conference yesterday Gulf Governor Havila Kavo said the environmental study funded by the developer had not taken into account the negative impact this large scale project would bring to his people, especially the destruction to the marine life along the 400 kilometres from the Kikori Rriver and along the Gulf coastline where the gas pipeline is planned to be laid under the seabed. Mr Kavo decided to take this course of action after engaging a locally based environment company (Chem Clean Environmental Services) to undertake further study and to review and verify the EIS report. The environmental review and verification of the EIS report has been finalised and was officially presented to the Gu

William Lobdell A company controlled by Phil Mulacek, chief executive officer of InterOil Corp . (NYSE: IOC), filed a "bad-faith" federal bankruptcy in December in an attempt to derail a potentially massive civil judgment in a fraud case against him and companies he controls, according to court documents filed in Houston. Less than a month after the filing, federal Judge Marvin Isgur in Houston ruled that Nikiski Partners—a corporation whose $2 million investment in a used oil refinery gave birth to InterOil, one of Wall St.’s high-flying stocks in 2009—had filed the bankruptcy in “bad faith.” ( Read transcript here. ) Two days before filing for bankruptcy, Mulacek, through his holdings in   Nikiski Partners, dumped nearly $1.5 million worth of InterOil stock, according to the Canadian Securities Commissions . The insider transaction was filed 40 days after it took place. Since InterOil evolved from Nikiski and a web of other companies in the mid-1990s

William Lobdell A company controlled by Phil Mulacek, chief executive officer of InterOil Corp . (NYSE: IOC), filed a "bad-faith" federal bankruptcy in December in an attempt to derail a potentially massive civil judgment in a fraud case against him and companies he controls, according to court documents filed in Houston. Less than a month after the filing, federal Judge Marvin Isgur in Houston ruled that Nikiski Partners—a corporation whose $2 million investment in a used oil refinery gave birth to InterOil, one of Wall St.’s high-flying stocks in 2009—had filed the bankruptcy in “bad faith.” ( Read transcript here. ) Two days before filing for bankruptcy, Mulacek, through his holdings in   Nikiski Partners, dumped nearly $1.5 million worth of InterOil stock, according to the Canadian Securities Commissions . The insider transaction was filed 40 days after it took place. Since InterOil evolved from Nikiski and a web of other companies in t

Paul Reinbara Interoil Investigation Announced by Law Offices of Howard B. Sirota(Attorney Advertising) Rockaway Park, NY (PRWEB) March 29, 2010 -- Veteran New York-based securities class action litigator Howard B. Sirota announced today that he is investigating Interoil, a Yukon Canada Company claiming in its 2009 press releases and regulatory filings in Canada and America to have discovered the world's largest-ever natural gas field in Papua New Guinea. Interoil shares plunged Friday on the NYSE following an expose article released Friday morning by William Lobdell of www.ibizreporting.com ( See Story here ) detailing apparent discrepancies between Introil's public regulatory filings and unsealed court transcripts. Accoding to Lobdell, Interoil's CEO told a federal bankruptcy judge in Texas that Interoil faced a "devastating" impact upon Interoil of a pending lawsuit which, according to Lobdell, triggered a bankruptcy filing by an entity controlled by Interoil&#

Paul Reinbara Interoil Investigation Announced by Law Offices of Howard B. Sirota(Attorney Advertising) Rockaway Park, NY (PRWEB) March 29, 2010 -- Veteran New York-based securities class action litigator Howard B. Sirota announced today that he is investigating Interoil, a Yukon Canada Company claiming in its 2009 press releases and regulatory filings in Canada and America to have discovered the world's largest-ever natural gas field in Papua New Guinea. Interoil shares plunged Friday on the NYSE following an expose article released Friday morning by William Lobdell of www.ibizreporting.com ( See Story here ) detailing apparent discrepancies between Introil's public regulatory filings and unsealed court transcripts. Accoding to Lobdell, Interoil's CEO told a federal bankruptcy judge in Texas that Interoil faced a "devastating" impact upon Interoil of a pending lawsuit which, according to Lobdell, triggered a bankruptcy filing by an entity controlled by Inter

‘Speaker totally biased, courts are tired, law enforcement agencies cannot cope with computerised white collar crimes while jails have become transit picnic grounds for criminals’ NEW Ireland Governor Sir Julius Chan says the Government is filthy rich but its people continue to live in saksak houses, no medicine, dilapidated schools and totally forlorn. “The Parliament is no longer the People’s House, but a rubber stamp for the multi-billionaires who can influence our leaders to introduce laws and agreements we know very little about, yet the long term impact is unpredictable. “The Speaker is totally biased, the courts are tired, law enforcement agencies can no longer cope with computerised white collar crimes, whilst our jails have become transit picnic grounds for criminals. “The people of this country are tired of sitting on the outside and begging for what is properly theirs,” he said. “For too long, Papua New Guineans have been spectators of resource developmen

‘Speaker totally biased, courts are tired, law enforcement agencies cannot cope with computerised white collar crimes while jails have become transit picnic grounds for criminals’ NEW Ireland Governor Sir Julius Chan says the Government is filthy rich but its people continue to live in saksak houses, no medicine, dilapidated schools and totally forlorn. “The Parliament is no longer the People’s House, but a rubber stamp for the multi-billionaires who can influence our leaders to introduce laws and agreements we know very little about, yet the long term impact is unpredictable. “The Speaker is totally biased, the courts are tired, law enforcement agencies can no longer cope with computerised white collar crimes, whilst our jails have become transit picnic grounds for criminals. “The people of this country are tired of sitting on the outside and begging for what is properly theirs,” he said. “For too long, Papua New Guineans have been spectators of resource d

The National Editorial IS it to be believed that the public accounts system of the PNG Government has collapsed completely? This is what we are led to believe by the Auditor-General and the parliamentary Public Accounts Committee. What is staggering beyond words is the fact that not a single comment has come from Finance, Treasury or the Department of Prime Minister and, indeed, from any agency of Government or minister of State to deny or accept the reports by the two constitutional watchdogs. Year in and year out, the same reports are tabled in Parliament. They are accepted and debate is postponed – indefinitely. How can we talk about planning, about programming, about budgeting and any other activity of Government and governing if the very important process of accounting for public monies is weak or, as has been mentioned in the latest reports into the trust accounts and trust accounting system of Government, has “collapsed completely” and has “failed in its functions and effectiven

The National Editorial IS it to be believed that the public accounts system of the PNG Government has collapsed completely? This is what we are led to believe by the Auditor-General and the parliamentary Public Accounts Committee. What is staggering beyond words is the fact that not a single comment has come from Finance, Treasury or the Department of Prime Minister and, indeed, from any agency of Government or minister of State to deny or accept the reports by the two constitutional watchdogs. Year in and year out, the same reports are tabled in Parliament. They are accepted and debate is postponed – indefinitely. How can we talk about planning, about programming, about budgeting and any other activity of Government and governing if the very important process of accounting for public monies is weak or, as has been mentioned in the latest reports into the trust accounts and trust accounting system of Government, has “collapsed completely” and has “failed in its functions and effectiv

Paul Reinbara I have been writing and posting articles in the past couple of months about the level of corruption and that the manner in which this is sprawling out of control. This young nation has been through a lot in the past few months since a major project announcement was made. There are opportunities for the country to progress forward and also to fall back on its own demise if the nation's leaders are not willing to stand up for what is right and follow the constitution. Papua New Guinea is now at a crossroad, I have been following news and events leading up to the news announcement made last week and the previous week and I am still looking at our current national leaders as mere puppets and idiots. I have been harshly criticized for pushing the limits in describing our MPs and yet I am not apologizing because everything is not okay, why do we have a rising trend in organized crime and white and blue collar crime in PNG, why is the government not doing much to restore ba