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InterOil (IOC +5%) provides an update on its proposed transaction with Exxon Mobil (XOM) in...

InterOil (IOC +5%) provides an update on its proposed transaction with Exxon Mobil (XOM) in Papua New Guinea: The sell-down is progressing on schedule as planned, IOC signed a detailed term sheet with XOM, and IOC believes the best strategy to develop its resources is a dual-development path which includes XOM at its PNG LNG facility and an LNG facility in the Gulf province.
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  • sailor39
    , contributor
    Comments (45) | Send Message
     
    So they have sold some gas to EMPNG. At what price??
    They don't seem any closer to achieving progress on their gulf LNG facility than they were 6 months ago.
    Appears they still need a big bucks/technical savvy partner to bring the LNG facility into being and no hint XOM interested.
    Don't see any talk of such a partner. They are still the mouse thinking they can get a really good deal from an elephant.
    Long IOC only because I've been there so long, but wish I had exited at $90.
    25 Jun 2013, 02:44 PM Reply Like
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