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Interoil: The Next Enron?

WOW! [Jan2009] 3 years later - good news! www.interoil.com
Back in Dec 2008 they confirmed a gas discovery in the Antelope field.[not yet known is its commercial or not]
1-13-09 IOC “a 9 million acres and four exploration licenses and two retention licenses in Papua New Guinea”... announced the discovery of the largest well in New Guinea? are they now “the largest distributor of refined products in Papua New Guinea” ?
I also read IOC is a main provider for Singapore “Crude oil supply contract with BP Singapore and refined product sales contracts with Royal Dutch Shell.”
It also says: "The results are far better than expected confirming the reef with in excess of 1,800 feet of net reservoir, which has demonstrated exceptional porosity and permeability. The well logs reflected the largest vertical section of net reservoir I have seen in my career," said Mr. Phil Mulacek, Chief Executive Officer.

www.interoil.com/newsr...
please check these news here and HELP me make sense of it all.
1.What does this mean for IOC future?
2.Has it just became a GOOD CANDIDATE for an acquisition by XOM ? They might step in and buy them now...
3. Stock holders - is it time to get rewarded for holding on! I'm an investor since it was $30, added more at $15 and lately at $10...expecting to see it up at $100 one day. [yes, collected some nice premiums on IOC puts from you 'skeptical' so my overall purchase price is now at ~$10 [stock is now at $20 with a nice upward trending chart ] 100% up in 3 weeks. WOW!
Not surprisingly IOC current PE is still too high ~40 It iwll take time for them to materialize but the news are out...the market reflects the new exploration and its priced into the stck already [i think].
NEXT, i assume the market will speculate XOM will show interest in this live well...the stock that has started the climb already might continue towards $25. What to do? I expect some pull back [time to sell some Feb15 CALLS for a nice 5K premium]. If collapses under 20 my 5K cushion will protect me all the way to 7. [stop loss at 12 will still give me net 5points in this case ~45% gains overall. Not bad under these circumstances. If IOC continue to drill drill drill and XOM will buy buy buy:) the story will be a success they all waited for since 2006 and before...then the PE will get to the single digit# EPS will defensibly go up from its current $0.84 ...oh and my $12 shares will make me even better returns than 45%.
[BTW this was my first on line review EVER!] thanks for reading.
What do you think the future holds for IOC?