tombo

Instant Gratification with InterOil Corporation?

I don't know. Much of it is still true today. The refinery is still worth much less than advertised. Basically it's break even. They still need to get constant cash inflows from investors to keep drilling.

They still put out wildly optimistic press releases. Did you read over those press releases from the last 10 years? Seems like every well they drill is a "huge find" and then they cap it and move on. They still have no proven oil or gas reserves.

They only major "plus side" difference I see is they managed to swap out a good chunk of their bank debt in a hugely dilutive stock deal. Which means the short term credit crunch is over. I guess as long as they can keep finding suckers to invest, they can stay afloat. But even in the best case scenario, they are many years away from producing revenue off the Gas "find". What will Natural gas prices be then? How many old and new investors will be taking their cut before shareholders? Extremely overvalued IMO.