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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.

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Results for IOC
FINTECHNA
29 Aug 15 15:01:23
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29 Aug 15 14:54:57
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29 Aug 15 13:00:03
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29 Aug 15 11:45:19
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29 Aug 15 11:45:17
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29 Aug 15 11:40:33
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29 Aug 15 11:00:00
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FINTECHNA
29 Aug 15 10:46:54
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29 Aug 15 10:43:27
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InvestWithConf
29 Aug 15 02:16:03
$IOC is rated BUY, 90.0% upside by Wall Street analysts based on average ratings/targets http://t.co/jhh8sJ8tWX http://t.co/f282H62U65
Thomas Collins
28 Aug 15 15:44:23
$IOC Stocks Flashing a Buy Signal: InterOil Corporation (USA) (NYSE:IOC), Copa ... http://t.co/9ZYUy9SN2y
wsnewspublishers
28 Aug 15 09:40:53
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Market Int Center
28 Aug 15 09:34:01
Interoil $IOC Trading Near $37.08 Resistance Level ( http://t.co/zUGNznAsep )
DailyStockPicks
28 Aug 15 06:07:48
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Jeffrey Blake
27 Aug 15 15:36:21
$IOC InterOil Appoints BG Group's Former CEO As New Chairman http://t.co/yavtAekom2
Large Void Bot
27 Aug 15 07:57:12
Daily Reversal (10:57): $IOC Last: 35.50; pHigh: 35.50; rVol: 1.445; pClose: 34.30; LOD: 34.9100; Perf: 3.5%
Crypto Analyst
26 Aug 15 20:02:40
Worst performers over the last 2 hours I/OCoin (-10.32%), PinkCoin (-9.26%), BURST (-8.7%) $IOC $PINK $BURST
Irma Doucet
26 Aug 15 12:34:44
$IOC Stocks Crossing Into Oversold Territory: InterOil Corporation (USA) (NYSE:IOC ... http://t.co/aLgcs4esHt
Altcoin Notify
26 Aug 15 09:53:12
$IOC market added to @YobitExchange! It can be found over here: https://t.co/L9QRl3aUzH #altcoinnotify
WKRB News
26 Aug 15 06:10:24
InterOil Given Consensus Recommendation of “Buy” by Brokerages $IOC http://t.co/oScdo5eKvi
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25 Aug 15 16:11:43
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Joel A. Bosh
25 Aug 15 15:21:17
RT @RoyalDOGE: A sneak peak of the upcoming HTML5 wallet #IOcoin #DIONS #BlockChain #SideChain #BitCoin $IOC http://t.co/RsZJU2Eq3J
LB-IO
25 Aug 15 07:29:28
RT @IO_Coin: In case you missed our latest development update https://t.co/HPR6kvue4n New! Feature Multiple wallets in single wallet #iocoi…
Joel A. Bosh
25 Aug 15 07:26:57
RT @IO_Coin: In case you missed our latest development update https://t.co/HPR6kvue4n New! Feature Multiple wallets in single wallet #iocoi…
Richard
25 Aug 15 07:26:31
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Large Void Bot
25 Aug 15 06:37:12
Daily Reversals: $HOLI, $NFJ, $HIBB, $IOC, $SEMG
Nanase-Kun
25 Aug 15 06:27:09
RT @IO_Coin: In case you missed our latest development update https://t.co/HPR6kvue4n New! Feature Multiple wallets in single wallet #iocoi…
Wolf of Altstreet
25 Aug 15 06:26:03
RT @IO_Coin: In case you missed our latest development update https://t.co/HPR6kvue4n New! Feature Multiple wallets in single wallet #iocoi…
I/O Coin
25 Aug 15 06:24:28
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25 Aug 15 04:13:17
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BreakingStocksNews
25 Aug 15 02:02:03
$XOM $IOC: Energy Companies Cheaper Than Assets After Rout, Oil Search Says: http://t.co/jGMyN0k0AT
dailystockplays.com
24 Aug 15 16:42:21
Bearish Cross http://t.co/mkwaWzHJ2K $CERN $IWD $SEAS $TXT $IVE $FEX $LMCA $KMX $IFV $WB $BID $VXUS $CGNX $MACK $NYT $VDSI $MLNX $IOC
Lightspeed
24 Aug 15 11:59:39
Call/Put Highest % volume changes: Calls: $IOC, $EWT, $IWO, $UUP, $ALU. Puts: $FAST, $EWT, $OPK, $VGK, $OIH.
CC
24 Aug 15 11:52:08
RT @RoyalDOGE: A sneak peak of the upcoming HTML5 wallet #IOcoin #DIONS #BlockChain #SideChain #BitCoin $IOC http://t.co/RsZJU2Eq3J
Joel A. Bosh
24 Aug 15 11:52:03
RT @IO_Coin: Development Update New Feature Announced! Multiple Wallets in 1 https://t.co/IjHlk7R7Oz #iocoin #ioc $ioc #bitcoin #btc #ether…
Zonebourse News
24 Aug 15 08:59:06
#Indian Oil : New Delhi cède 10% dans Indian Oil pour 1,21 md http://t.co/mwvf1Qarex $IOC
MacroStrategist
24 Aug 15 08:44:10
Top Stock Trade Ideas: $IOC Forecast for August 31, 2015. Target: 28.76 [-7%+] Current View: sell http://t.co/BHX4QKctkq
Analyst Actions
24 Aug 15 08:43:02
$IOC: Analyst action by Credit Suisse on InterOil: http://t.co/NM9oQwPg95 http://t.co/nK6Y82z9bV
Zonebourse News
24 Aug 15 08:38:04
#Indian Oil : New Delhi cède 10% dans Indian Oil pour 1,21 md http://t.co/rPMxc8pnhZ $IOC
Bithub
24 Aug 15 08:24:02
RT @RoyalDOGE: A sneak peak of the upcoming HTML5 wallet #IOcoin #DIONS #BlockChain #SideChain #BitCoin $IOC http://t.co/RsZJU2Eq3J
LB-IO
24 Aug 15 08:23:33
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LB-IO
24 Aug 15 08:10:52
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FINTECHNA
24 Aug 15 07:01:15
RT FOREX_82: #blockchain #fintech #iocoin $ioc https://t.co/qsxAcOkh1u …
Ali
24 Aug 15 06:56:46
#blockchain #fintech #iocoin $ioc https://t.co/bQ47Q2C9y7
Media Sentiment
24 Aug 15 06:20:06
$IOC received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 165
Market Int Center
24 Aug 15 06:17:59
Interoil $IOC Showing Bearish Technicals With Support At $32.04 ( http://t.co/2UAqAPR93G )
I/O Coin
24 Aug 15 05:25:52
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StockNewsWires
23 Aug 15 15:26:02
$IOC: Shares of InterOil Corporation (NYSE:IOC) Drops by -16.82%: http://t.co/3aMwfsrN0c
Sleek Money
23 Aug 15 06:20:45
InterOil Receives $73.60 Average PT from Brokerages $IOC http://t.co/Pqqpz0C0r4
BreakingStocksNews
23 Aug 15 06:19:02
$IOC: InterOil Receives $73.60 Average PT from Brokerages (NYSE:IOC): http://t.co/NlnhUh64D1
				
				
By  +Follow December 6, 2013 8:35AM
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