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InterOil Corporation

5/24/2013, 7:21 PM ET

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Friday, May 24, 9:47 AM Exxon's (XOM -0.4%) arrival as a tentative partner gives InterOil's (IOC +6.9%) Elk/Antelope resource a blue chip "stamp of approval," Raymond James writes, but "the market's enthusiasm will be tempered by the fact that a deal has yet to be finalized." Still unknown: how much of the resource will be monetized; the timing of a final deal; and "most importantly," the purchase price. 1 Comment [Energy, On the Move]
Friday, May 24, 9:10 AM Premarket gainers: BLOX +17%. IOC +15%. YGE +13%. P +11%. MRVL +5%.
Losers: DF -52%. SHLD -16%. AVEO -15%. RSOL -13%. TITN -11%. APPY -7%. ANF -7%. CRM -5%. 2 Comments [On the Move]
Friday, May 24, 7:53 AM InterOil (IOC) +10.1% premarket on news it has entered into exclusive negotiations with ExxonMobil (XOM) to develop the Elk and Antelope gas fields IOC owns in Papua New Guinea. The discussions include the possibility of XOM purchasing a stake in Petroleum Retention License 15 and providing funding to drill additional wells in the Elk and Antelope fields. 6 Comments [Energy, On the Move]
Friday, May 17, 8:40 AM Indonesia's Pertamina is rumored to have made a bid for InterOil’s (IOC) Elk-Antelope discoveries in Papua New Guinea. The Indonesian state-owned company reportedly needs to import LNG to meet existing export commitments because its production was falling. IOC +0.8% premarket. 1 Comment [Energy]
Tuesday, May 14, 2:23 PM InterOil (IOC +12.1%) is reiterated with an Outperform rating and $100 price target by Raymond James even though Q1 results were "uneventful." The firm says investors should focus on IOC's long-term cash flow potential and multiple upcoming catalysts, including a much-anticipated LNG partnership with an international company, presumably incorporating a resource selldown. 2 Comments [Energy, Quick Ideas, On the Move]
Tuesday, May 14, 11:20 AM InterOil (IOC +11.6%) shares surge on comments from the company's Q1 conference call about the ongoing partnership selection for its Papua New Guinea liquefied natural gas project. The company says it is in the final stages of a selection after receiving several bids, and there is no June 30 deadline. (Q1 earnings) Comment! [Energy, On the Move]
Monday, May 13, 4:39 PM InterOil (IOC): Q1 EPS of $0.08. Revenue of $350.3M beats by $18.84M. (PR) Comment! [Earnings, Breaking News]
Monday, May 13, 12:10 AM Notable earnings after Monday’s close: HMIN, IOC, SCTY, TRQ, TTWO, VELT, WX Comment! [Earnings]
Sunday, May 12, 5:35 PM Notable earnings after Monday’s close: HMIN, IOC, SCTY, TRQ, TTWO, VELT, WX Comment! [Earnings]
Thursday, May 2, 6:23 PM Shell (RDS.A) may have taken the lead - at least in the rumor mill - as the bidder most likely to succeed in winning a share of InterOil’s (IOC) LNG project in Papua New Guinea, Platts reports. Shell’s perceived advantage over Exxon (XOM) and Total (TOT) centers on its existing relationship with the PNG government, strengthened by its ownership of emerging floating LNG technology. 11 Comments [Energy]
Wednesday, April 24, 10:57 AM InterOil’s (IOC +5.4%) promise to come up with a credible partner for its LNG project in Papua New Guinea may mean it needs to make an announcement "in a matter of weeks" and Exxon (XOM) may be the most likely partner, according to PNG Industry News. IOC also says it has adopted a new shareholder rights plan and bylaws, though there's no report of takeover interest. Comment! [Energy, Global & FX, On the Move]
Wednesday, April 24, 8:45 AM The sudden retirement of InterOil (IOC) CEO Phil Mulacek should speed the securing of a major JV partner for its Gulf LNG project in Papua New Guinea, Raymond James analyst Pavel Molchanov says. Mulacek was a "sharply polarizing figure" perceived as "an obstacle" to a deal with interested partners such as XOM, RDS.A or TOT, and his departure provides a catalyst for an announcement. 5 Comments [Energy]
Tuesday, April 23, 9:22 AM InterOil (IOC) falls 5% premarket after announcing CEO Phil Mulacek will retire effective April 30. The company calls Mulacek "a remarkable visionary" and notes that he will continue to serve as an adviser. Mulacek departs as IOC seeks to finalize a long-promised LNG partnership in Papua New Guinea. Chairman Dr. Gaylen Byker will serve as interim CEO until a replacement for Mulacek is found. 8 Comments [Energy, On the Move]
Tuesday, April 23, 9:10 AM Premarket gainers: MEMS +50%. SCON +46%. NFLX +24%. VECO +14%. COH +12%. ILMN +10%. ARMH +9%. CZR +8%. STM +6%. AMRN +6%.
Losers: IRWD -10%. RSH -7%. IOC -6%. Comment! [On the Move]
Monday, April 15, 3:59 PM Papua New Guinea is set to join the global LNG game in 2014 when an Exxon-led (XOM -2.9%) project is scheduled to ship its first deliveries, but news today that InterOil (IOC -2.1%) had received government approval for a JV operating agreement for the project suggests an additional LNG export project could come on stream in the Asian country not long after. Comment! [Energy, Global & FX, On the Move]
Friday, April 12, 9:10 AM Premarket gainers: FST +12%. IOC +8%. WLT +7%. ASH +5%.
Losers: INFY -18%. HIMX -9%. MNKD -8%. Comment! [On the Move]