InterOil (IOC +6%) rebounds from yesterday's selloff after providing an update on its liquefied...

InterOil (IOC +6%) rebounds from yesterday's selloff after providing an update on its liquefied natural gas activity in Papua New Guinea. IOC says final bids for the partnering process will close at the end of February. "Interest... remains strong, and bodes well for the conclusion of our sell down of interest in the Elk and Antelope fields and partnering in the Gulf LNG Project," CEO Phil Mulacek says.

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Comments (6)
  • David Calleo
    , contributor
    Comments (107) | Send Message
    This bodes well for IOC. Strong BUY here !
    24 Jan 2013, 10:58 AM Reply Like
  • Resourcearb
    , contributor
    Comments (21) | Send Message
    Yes, it's the first time that I can recall such specific visibility provided by the company. The criticism of management stringing along investors by alluding to a deal happening "soon" is completely obliterated by this release. If the company didn't know unequivocally that it would have fair bids from world class partners by February 28th, management never would have issued this release.


    The story is finally coming to a head, and the reality that this project will garner FID and move ahead is about to set in. As it does, investors will start to predicate the share price on a calculated NAV, which I estimate is over 300% higher than the current share price.


    Look at Cheniere (LNG) as a template for what to expect in the coming weeks.
    24 Jan 2013, 11:08 AM Reply Like
  • Adam Gefvert, CFA
    , contributor
    Comments (1448) | Send Message
    More talk by IOC to make the stock go up. I doubt this is any different than all the other times they said a deal was coming, for the last ten years. While other companies are making deals, IOC just talks about them.
    24 Jan 2013, 11:09 AM Reply Like
  • Thinking Man
    , contributor
    Comments (13) | Send Message
    You only "doubt this is any different"? You mean you are not so sure of yourself now... hmmmm Maybe you better start covering your shorts and not get buried in your ego
    24 Jan 2013, 06:17 PM Reply Like
  • ghrcap
    , contributor
    Comments (176) | Send Message
    Seeking Alpha is just one more tool of the manipulators in IOC.
    24 Jan 2013, 12:08 PM Reply Like
  • Nostradavis
    , contributor
    Comments (143) | Send Message
    IOC hasn't published specific information like this to supermajors regarding bids before, only internal goals on anticipated milestones. It's clear there was a connection between the wait for a desire by the majors bidding on the project to see the Antelope 3 results before getting final bids in. Seems like a reasonable cause for waiting in my opinion, more clarity in value per mcf, and better visibility for the major investors.
    24 Jan 2013, 02:55 PM Reply Like
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