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Friday, Aug 16
InterOil responds to report on Exxon negotiations, shares now -5%
- InterOil (IOC -5%) bounces a bit from session lows after responding to an earlier report from Papua New Guinea that said Exxon Mobil's (XOM) exclusive period for negotiations for a large stake in the Elk-Antelope fields had passed without a deal.
- IOC says it does not to comment on market rumors or speculation, but negotiations with XOM regarding an agreement to monetize the Elk and Antelope fields are ongoing.
- Raymond James comes out in defense of the stock, questioning the accuracy of the report.