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InterOil (IOC) says Papua New Guinea's national executive council approved the company's...

InterOil (IOC) says Papua New Guinea's national executive council approved the company's liquefied natural gas development project in the country, clearing the way to proceed with plans for an LNG plant in the Gulf Province with initial output of at least 3.8M metric tons/year. IOC +4.2% premarket.
Comments (3)
  • At a cost of giving up 50% to the government of all GROSS revenues if any ever generated and under condition that an internationally recognized operator come on board to run the show, emphasis upon SHOW. This project , first proposed in 2009 will, based upon realities such as lack of truth, lack of money required ( atleast several billion dollars ) weather issues and lack of cash by Interoil (they have no oil or proven gas reserves per footnotes to their latest and prior filings with the Canadian regulators and SEC ) lead me to conclude as have much smarter investors and speculators this is nothing more than a public relations "shell" game < with Shell the next rumored "operator.
    16 Nov 2012, 08:53 AM Reply Like
  • u short dude?
    16 Nov 2012, 09:03 AM Reply Like
  • This is huge. The long awaited for sell down is on the doorstep, and the silly rumors of Nationalization can be put to bed. They got the scaled development they wanted, 3.8 mtpa vs 8 mtpa at startup. The Triceratops field will be the next valuation game changer after the sell down is complete, as current models only account for Elk Antelope fields. When we hear the per mcf price and confirmed exchange details, this stock is going to move.
    18 Nov 2012, 10:31 AM Reply Like
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