Seeking Alpha
Seeking Alpha Portfolio App for iPad
Finance
(1)
Market Currents

InterOil (IOC) +2.5% premarket after announcing better than expected results from its Antelope-3...

  • Friday, November 30, 2012, 8:40 AM ET
    InterOil (IOC) +2.5% premarket after announcing better than expected results from its Antelope-3 appraisal well in Papua New Guinea. The well has penetrated the top of the reservoir at 5,328 ft. measured depth, 217 ft. above the predrill estimate and 92 ft. higher than the Antelope-1 well.
Track new comments on this story

This news story has 4 comments:

  •  
    hahahahahhaahahahha u gotta be kiddi'n me. stock down 43 points in 2 months and this is the best that pubic relatives department can do? hey i hear there's some nice news coming real soon ; )
    30 Nov 2012, 09:06 AM Reply Like
  •  
    Yes, it's all been good news. It will keep coming. We all know that the float is so thin on this stock that the PPS can be manipulated and has been manipulated. However, there are a lot of stockholders who wont sell. So all you can do is continue to naked short and try to get those people without the financial strength to hold to sell. Those are the only shares you can get. Where are you going to get enough shares to cover?
    30 Nov 2012, 09:30 AM Reply Like
  •  
    Yes, this is good news. It, at least, will reduce the clamor of those that have been saying there is no gas and IOC is all glitter but no gold. The real questions, the ones that the will end the arguments as to what this company is really worth, are - How many months or years will it take for a "few weeks" until the major international partner is on board? How much gas will they be paying for and what value will they put on that gas? All the rest is just fodder for traders trying to manipulate the market for their individual interests.
    30 Nov 2012, 01:34 PM Reply Like
  •  
    good points. The time involved to finalize a deal of this magnitude is not predictable, but it is certainly not a few weeks. Plus, the government is a participant in this, so that will slow things down as well. Truthfully, I would suggest that three to six months is a reasonable timeline. Presumably they have been working on this for a while, so I would lean toward three months. For that entire three months, the pressure will be on the PPS. So hold some powder back and buy when they move it down.
    1 Dec 2012, 09:25 PM Reply Like
LATEST|
TODAY SO FAR|
YESTERDAY
Other date
DJIA (DIA) S&P 500 (SPY)
Latest Energy & Materials Articles
More Latest Articles »