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Interoil: Shares Skyrocket as Boone Pickens Invests

by: FP Trading Desk August 10, 2007 | about: IOC    

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An investment from billionaire oil and gas tycoon T. Boone Pickens, sent shares of Interoil Corp. (IOC) up more than 20% on Thursday.

A SEC filing showed Mr. Pickens has acquired 9.9% of Interoil's outstanding shares.

His private investment firm BP Capital Management LP holds a 3.2% stake, as does its general partner TBP Invesments Management LLC.

Mr. Pickens is considered one of America's top corporate raiders, reaping huge payoffs through takeover battles.

IOC 1-yr chart:

IOC 1-yr chart

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