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InterOil (IOC) Tanks After Signing LNG Deal with Total S.A.

By  +Follow December 6, 2013 8:35AM
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Downstream oil and gas firm InterOil Corporation (IOC) saw shares getting annihilated on Friday, after it was announced that French super-major Total S.A. (TOT) would be buying a substantial share of the company’s liquid natural gas operations in Papua New Guinea.

Total Getting Over Half of IOC's Total Elk and Antelope Fields

From the details that are currently available, Total will be grabbing up over 60 percent of InterOil’s Elk and Antelope gas fields, and will retain the option to invest in more exploration in the future.

The small refiner and marketer has been searching for some time for a larger company to assist in its natgas projects in Papua New Guinea, and has held talks with ExxonMobil (XOM) to this end.

IOC Can't Find Partner for Elk-Antelope Fields

The Elk-Antelope fields are known as one of the largest discoveries in Asia in recent decades, but InterOil has spent a number of years looking for a partner, with little luck. The deal announced Friday is expected to be concluded in early 2014, and could, over the next two years, lead to the development of more fields, and perhaps even the construction of a liquefaction plant in the country.

According to InterOil, Total will pay anywhere between $1.5 billion to $3.6 billion, depending on the size of the reserves. IOC’s estimates put the size between 5.4 trillion and 9 trillion cubic feet of gas. This could lead to contingent payments of between $675 million and $2.78 billion, but Total has been a bit tighter on its own estimates of the reserves, and has said that it expects to pay something more in the range of $590 million.

Stock Price for Total Inches Up

The price movement for Total showed that US investors at least were not terribly impressed at the prospect, with shares up 0.86 percent to $59. InterOil’s shares were another story entirely, down nearly 40 percent at one point, to a low of $51, just $0.05 more than its 52-week low. It’s a drastic move for a stock that, up until today, had added almost 60 percent in 2013. Shares were trading on 5 times average volume, with a massive 27.5 percent short-float.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for IOC
Vindyne8
22 Aug 14 22:29:44
RT @spartacoin: First 5 people to sign up for IONS, I will give you 300 IOC. Just RT with your IONs name. $IOC iocoin.io
ALTerWhite
22 Aug 14 20:17:46
RT @spartacoin: First 5 people to sign up for IONS, I will give you 300 IOC. Just RT with your IONs name. $IOC iocoin.io
Spartacoin
22 Aug 14 20:16:28
First 5 people to sign up for IONS, I will give you 300 IOC. Just RT with your IONs name. $IOC iocoin.io
[Romano]
22 Aug 14 18:08:56
Dear $IOC can you stop shitting over yourself. I can't swingtrade all day. Need to work tommorow.
Stock News Updates
22 Aug 14 07:26:53
$IOC: InterOil to Buy Back Shares http://t.co/WJEnJEtzd4 http://t.co/ZMCaS3b3rC
[Romano]
22 Aug 14 07:21:20
Fack it, catching the falling $IOC with a tight Stoploss.
[Romano]
22 Aug 14 07:17:45
Should I catch that falling knife? $IOC
Media Sentiment
22 Aug 14 07:02:15
$IOC received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 146
Market Int Center
22 Aug 14 07:00:52
Interoil $IOC Showing Bullish Technicals With Resistance At $62.73 ( http://t.co/uC8LwBvrN4 )
Surestrike
22 Aug 14 04:31:03
RT @wizrig: http://t.co/Pa5icwxs1A … #ioc #iocoin $ioc 84.8 % Wallets staking. Devs are making progress on our New! HTML5 wallet
ALTerWhite
22 Aug 14 04:25:32
RT @wizrig: http://t.co/Pa5icwxs1A … #ioc #iocoin $ioc 84.8 % Wallets staking. Devs are making progress on our New! HTML5 wallet
児玉
21 Aug 14 23:32:08
RT @IO_Coin: We are experiencing some downtime on the IO Name Server. It will be back online soon enough #HODL #IOC $IOC #IOCOIN #BTC #DRK …
pepper
21 Aug 14 22:28:10
@IO_Coin if anyone has $ioc @ipoMiner you need to withdraw! they're removing the coin from their servers. 11:59pm est, august 23, 2014.
[Romano]
21 Aug 14 19:27:00
Still holding most of my $SDC ohh and whales, pump $IOC for me today or tommorow.
Market News
21 Aug 14 16:26:22
$IOC: InterOil Sets Second Quarter 2014 Results Conference Call Date http://t.co/fZVgItZ0i9 http://t.co/KbideehBWF
J.Bosch
21 Aug 14 15:55:37
http://t.co/Pa5icwxs1A … #ioc #iocoin $ioc 84.8 % Wallets staking. Devs are making progress on our New! HTML5 wallet
Peter Bardens
21 Aug 14 09:31:06
$IOC InterOil Corporation: InterOil Streamlines Business in Q2 2014 http://t.co/PHP5IylOPc
Harry Walkman
21 Aug 14 09:31:05
$IOC InterOil Appoints BG Group's Former CEO As New Chairman http://t.co/w3qmyqAG3H
J.Bosch
21 Aug 14 06:02:43
RT @IO_Coin: We are experiencing some downtime on the IO Name Server. It will be back online soon enough #HODL #IOC $IOC #IOCOIN #BTC #DRK …
IOCoin Official
21 Aug 14 04:34:16
We are experiencing some downtime on the IO Name Server. It will be back online soon enough #HODL #IOC $IOC #IOCOIN #BTC #DRK #XMR #VRC
[Romano]
21 Aug 14 04:15:01
@fullhdpixel didnt. I was busy with $sdc and $IOC did the TA only because you were in
Business News
20 Aug 14 17:26:56
$IOC: InterOil Sets Second Quarter 2014 Results Conference Call Date http://t.co/hM3HnmztRV http://t.co/d9oJUj5IXj
[Romano]
20 Aug 14 16:59:05
I tweeted as a joke,whales pump $IOC It happened. I tweeted whales pump $sdc (when it was at 9) 2h later it happened. said pump $sdc to 21
[Romano]
20 Aug 14 14:55:28
Thanks Whales. $SDC 21. Can you guys delay the $SDC & $IOC Pumps. I am busy tommorow & I am going to sleep on. https://t.co/e0tbMPK1m0
David Winter
20 Aug 14 14:47:30
RT @smokin35: @noahheaser @jebus911 @BTCarchitect I currently like $BC, $VRC, $CLD, $SFR, $PINK, $IOC, $CLOAK, $MIN, $POT imho
[Romano]
20 Aug 14 14:36:29
$IOC on the move .. Finally!
CryptoFlips
20 Aug 14 12:52:07
RT @smokin35: @noahheaser @jebus911 @BTCarchitect I currently like $BC, $VRC, $CLD, $SFR, $PINK, $IOC, $CLOAK, $MIN, $POT imho
Alexander Morris
20 Aug 14 12:43:27
$IOC: At/Above 200DaySMA[-61.40]:1M, lm:+5, 0phNearHi, PrvCHi, tf:7d, ch:+0.9%, PrvClGap-[-0.5%], MedFlt[38.7M], HiPctSht[16%:18d]
Pink Prophet
20 Aug 14 12:29:55
RT @smokin35: @noahheaser @jebus911 @BTCarchitect I currently like $BC, $VRC, $CLD, $SFR, $PINK, $IOC, $CLOAK, $MIN, $POT imho
StockArchitect News
20 Aug 14 09:33:05
$IOC: InterOil Corporation: InterOil to Buy Back Shares http://t.co/dibFPOFuGy http://t.co/5u58Jqaw6J: $IOC: I... http://t.co/zxcAHCdKLc
Business Updates
20 Aug 14 09:26:56
$IOC: InterOil Corporation: InterOil to Buy Back Shares http://t.co/1ydaDMEBEM http://t.co/hKXhQNhev2
Gw3
20 Aug 14 09:06:38
@noahheaser @jebus911 @BTCarchitect I currently like $BC, $VRC, $CLD, $SFR, $PINK, $IOC, $CLOAK, $MIN, $POT imho
[Romano]
20 Aug 14 08:28:38
Noooooooooooooooooo $IOC don't pump now.. Not all my buys were filled
Stock Market Monitor
20 Aug 14 08:26:59
$IOC: InterOil Streamlines Business in Q2 2014 http://t.co/rEeCqThAum http://t.co/HRBQrgWlAG
SciFi CryptoCoins
20 Aug 14 08:17:36
RT @RNR_0: There is a chance for another $IOC pump. Let it bleed & put some low buy orders. Arround 38 - 42
#Altcoin Devvie
20 Aug 14 08:11:20
RT @RNR_0: There is a chance for another $IOC pump. Let it bleed & put some low buy orders. Arround 38 - 42
StockArchitect News
20 Aug 14 07:44:56
There is a chance for another $IOC pump. Let it bleed & put some low buy orders. Arround 38 - 42: There is a c... http://t.co/atsrYKxhOu
[Romano]
20 Aug 14 07:41:19
There is a chance for another $IOC pump. Let it bleed & put some low buy orders. Arround 38 - 42
Harry Walkman
20 Aug 14 06:30:48
$IOC InterOil Appoints BG Group's Former CEO As New Chairman http://t.co/KTLwFhpX02
cryptomartin
20 Aug 14 01:11:31
wake up and see this prices, nice #SDC #IOC $SDC $IOC
[Romano]
19 Aug 14 21:26:48
Wakes up.. Checks $IOC & $SDC price. Gets happy & falls peacefully back to sleep.
pink ♥ lion
19 Aug 14 20:36:19
RT @boxxa: Anyone waiting for the $IOC should check out the Pinkcoin address engine already being used :) http://t.co/EcjPzNGCN5
Vindyne8
19 Aug 14 19:44:54
RT @NewtOnCrypto: SOLID DEVELOPMENT IN $IOC #iocoin no gimmicks no anon BS, it's all about integration to fiat > https://t.co/tJ715vczR9
Vindyne8
19 Aug 14 19:44:48
RT @IO_Coin: $IOC #IOC #iocoin devs shown, development given and roadmap! > http://t.co/n6fJOjsuWa & check our ann ;) > https://t.co/qlDZpm…
Business News
19 Aug 14 19:26:50
$IOC: Falling Earnings Estimates Signal Weakness Ahead for InterOil Corporation (IOC ... http://t.co/vDIwoTrx3z http://t.co/ydgmrD694j
StockArchitect News
19 Aug 14 19:17:53
Buy more $IOC at 4.. Alarms at 3: Buy more $IOC at 4.. Alarms at 3 http://t.co/i2ZBMkr2Bd
[Romano]
19 Aug 14 18:51:50
Buy more $IOC at 4.. Alarms at 3
NewtOn
19 Aug 14 18:44:52
RT @wizrig: $IOC #IOC #iocoin devs shown, development given & roadmap! > http://t.co/I8V9KYUv6f … & check our ann ;) > https://t.co/L3oS12S…
dr0x0N
19 Aug 14 18:44:45
RT @RNR_0: $IOC just released http://t.co/yZ2DgbmQsK
J.Bosch
19 Aug 14 18:38:07
$IOC #IOC #iocoin devs shown, development given & roadmap! > http://t.co/I8V9KYUv6f … & check our ann ;) > https://t.co/L3oS12SV97 #bitcoin
				
				
By  +Follow December 6, 2013 8:35AM
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