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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
iHangout
25 Dec 14 18:38:33
Stock_Tracker: Stock DD Board: Interoil Corp (IOC) 50.79 $IOC Petrobras http://t.co/aspIFmjqUQ
Stock_Tracker
25 Dec 14 18:33:29
Interoil Corp (IOC) 50.79 $IOC Petrobras Production Reaches Historical High, Stock Gains - Analyst Blog Zacks http://t.co/iDpKNX9NZy
BitDaddy
25 Dec 14 17:21:47
RT @wizrig: Download our song #brava from this site http://t.co/ocuwEYKpE8 #bitcoin $ioc #btc with the #iocoin product placement http://t.c…
Peter Bardens
25 Dec 14 14:32:28
$IOC Former InterOil Corp CEO makes a play for PNG petrol http://t.co/sFEA2XkJ8m
@acuta
25 Dec 14 07:18:35
RT @00Smurf: https://t.co/l1q6nLlCPK don't you own any #shadowcash yet? #sdc $sdc $ioc $xc $btcd $drk
OptionCast
25 Dec 14 05:50:16
Today's Pre-Market Losers $ZVV $CBO $EPE $PDCE $IOC $TOO http://t.co/JPcyeTMQeu
Media Sentiment
24 Dec 14 11:19:56
$IOC received a new alert. Find out why at http://t.co/5lwmDm2SCs #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 189
Analyst Ratings
24 Dec 14 11:19:08
InterOil upgraded by Zacks to outperform. $54.10 PT. http://t.co/7IFTzd0OX9 $IOC #IOC
ProTradersNews
24 Dec 14 11:18:05
$IOC: InterOil Upgraded by Zacks to Outperform (NYSE:IOC) http://t.co/VauOK9UKM0 http://t.co/ycN7Gw4Bwj
US Consumer News
24 Dec 14 11:09:36
InterOil upgraded by Zacks to outperform. $54.10 PT. http://t.co/2JZUGpLtCf $IOC #IOC
Doge
24 Dec 14 10:20:54
RT @wizrig: Download our song #brava from this site http://t.co/ocuwEYKpE8 #bitcoin $ioc #btc with the #iocoin product placement http://t.c…
#Altcoin Devvie
24 Dec 14 10:11:49
RT @wizrig: Download our song #brava from this site http://t.co/ocuwEYKpE8 #bitcoin $ioc #btc with the #iocoin product placement http://t.c…
I/O Digital Currency
24 Dec 14 10:10:14
RT @wizrig: Download our song #brava from this site http://t.co/ocuwEYKpE8 #bitcoin $ioc #btc with the #iocoin product placement http://t.c…
JBosh
24 Dec 14 10:09:39
Download our song #brava from this site http://t.co/ocuwEYKpE8 #bitcoin $ioc #btc with the #iocoin product placement http://t.co/ys4Mc5VYq1
G6Trading
24 Dec 14 06:27:20
Happy Holidays! Stock watch for today: $NVGS $GPRO $CALM $PDCE $IOC $CME $CSX $RAD keep in mind that market closes early today at 1:00PM
T3TradingMiami
24 Dec 14 06:22:39
Stock Futures Drift Higher; Airlines Rise As Oil Slips http://t.co/4czdIQIrZo $WLL $CLR $OXY $NVGS $VA $IXIC $GSPC $DJI $EPE $PDCE $IOC
OptionCast
24 Dec 14 05:37:15
Today's Pre-Market Losers $EPE $PDCE $IOC $TOO $LPI $HES http://t.co/JPcyeTMQeu
Doge
23 Dec 14 11:20:21
Release: http://t.co/0f8mh1gsfS via @WWWELGENERO @io_coin #iocoin $ioc
NASDAQ
23 Dec 14 08:04:06
$IOC - Report of Foreign Issuer (6-k) http://t.co/EfHXuC9xj0
Breaking News Now
23 Dec 14 08:01:04
$IOC: New SEC Filing for IOC (Form 6-K, No.0001144204-14-075516): http://t.co/lk98BNfa4B http://t.co/25jhQEmZwp
#Altcoin Devvie
23 Dec 14 06:20:15
RT @wizrig: Releasing tonight at 7pm #iocoin will be featured on @Latinlnp1 #brava Music Video on #VEVO #bitcoin here we go $ioc http://t.c…
phuge
23 Dec 14 06:18:48
RT @wizrig: Releasing tonight at 7pm #iocoin will be featured on @Latinlnp1 #brava Music Video on #VEVO #bitcoin here we go $ioc http://t.c…
I/O Digital Currency
23 Dec 14 06:18:09
RT @wizrig: Releasing tonight at 7pm #iocoin will be featured on @Latinlnp1 #brava Music Video on #VEVO #bitcoin here we go $ioc http://t.c…
TAINO
23 Dec 14 06:17:21
RT @wizrig: Releasing tonight at 7pm #iocoin will be featured on @Latinlnp1 #brava Music Video on #VEVO #bitcoin here we go $ioc http://t.c…
JBosh
23 Dec 14 06:16:03
Releasing tonight at 7pm #iocoin will be featured on @Latinlnp1 #brava Music Video on #VEVO #bitcoin here we go $ioc http://t.co/CRzhf0ZHRP
ProVesting
22 Dec 14 23:18:02
$IOC: InterOil Spuds Antelope-5 http://t.co/Zj3eA4wGCK http://t.co/RV4QETksQi
ProTradersNews
22 Dec 14 22:23:11
$IOC: InterOil Spuds Antelope-5 http://t.co/H89U9YiWuF http://t.co/gOTjwLghRu
NASDAQ
22 Dec 14 22:13:06
$IOC - InterOil Spuds Antelope-5 http://t.co/Wj4kzkRjrh
NASDAQ
22 Dec 14 22:13:04
$IOC - InterOil Spuds Antelope-5 http://t.co/AxvbFhkveW
Sgt.Crypt
22 Dec 14 22:04:19
RT @IO_Coin: On December 23rd History will be made #iocoin will be featured in a Music Video. Here is a scene #btc #bitcoin $ioc http://t.c…
Samuel Brown
22 Dec 14 11:31:57
$IOC Former InterOil Corp CEO makes a play for PNG petrol http://t.co/yRrQ1QnBOY
AliEn BraInZ
22 Dec 14 10:50:35
CORREION $IOC #SHORTSEALE Daily Candles !! Screenshot Interoil sentiment <Bear> http://t.co/yHdIUVQyLH
Lucretia
22 Dec 14 10:32:35
$IOC Former InterOil Corp CEO makes a play for PNG petrol http://t.co/LzN1v0YHpB
AliEn BraInZ
22 Dec 14 10:17:20
@micenter Nice analysis . Thanks you $IOC technical
AliEn BraInZ
22 Dec 14 10:16:27
RT @micenter: Interoil $IOC Showing Bearish Technicals With Resistance At $52.39 ( http://t.co/9zoFS1UwQI )
AliEn BraInZ
22 Dec 14 10:15:57
#GoldmanSachs are self serving backstabbing thieves. The price target shows disparity $IOC should trade below $10 not $50 lol
AliEn BraInZ
22 Dec 14 10:14:13
@PeterBardens weak funds all wellington $IOC
Dei Vit
22 Dec 14 10:13:04
RT @IO_Coin: On December 23rd History will be made #iocoin will be featured in a Music Video. Here is a scene #btc #bitcoin $ioc http://t.c…
Richard G
22 Dec 14 10:10:50
RT @IO_Coin: On December 23rd History will be made #iocoin will be featured in a Music Video. Here is a scene #btc #bitcoin $ioc http://t.c…
AliEn BraInZ
22 Dec 14 10:07:14
@AlertTrade #ShortSeller $IOC well dressed piece of S^&t! where will Q4 $ come from? EPS Reflects 1 x Asset Sale 0 Production explr. ONLY
AliEn BraInZ
22 Dec 14 10:03:17
Interoil $IOC a foolish bet on crude oil recovery http://t.co/XVJ0A48ppq
Peter Bardens
22 Dec 14 10:01:29
$IOC Here is What Hedge Funds Think About InterOil Corporation (USA) (IOC) http://t.co/dJGGis59VE
AliEn BraInZ
22 Dec 14 09:52:12
@ProTradersNews Company has ZERO production. Exploration is cost neg. Coming 10q will reveal. Current EPS & PE from 1 time asset sale $IOC
AliEn BraInZ
22 Dec 14 09:49:56
$IOC Daily shares sold short http://t.co/cM2Dk8gQC8
AliEn BraInZ
22 Dec 14 09:46:44
Inter Oil $IOC low float low volume mover -1.47% @ $49.60 Have sold 75% of producing assets , exploration only 0 production/PPS fwd
Feltastic
22 Dec 14 07:39:07
RT @IO_Coin: On December 23rd History will be made #iocoin will be featured in a Music Video. Here is a scene #btc #bitcoin $ioc http://t.c…
ProTradersNews
22 Dec 14 05:53:03
$IOC: InterOil Coverage Initiated by Analysts at Goldman Sachs http://t.co/HvMgnWom7t http://t.co/ddfKW1dMly
BAYMAX
21 Dec 14 21:02:56
Looking at $IOC
LeSmoke
20 Dec 14 08:04:23
RT @VeryVeriViral: @BinaryMiner Seems to be a little truth to this. $BTCD is a good one. If we're talking loss of value and ripe for pickin…
Jason's Stackhouse
19 Dec 14 16:37:17
RT @IO_Coin: On December 23rd History will be made #iocoin will be featured in a Music Video. Here is a scene #btc #bitcoin $ioc http://t.c…
				
				
By  +Follow December 6, 2013 8:35AM
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