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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
I/O Digital Currency
21 Oct 14 07:36:18
Update from our team. #iocoin $ioc https://t.co/7jPjxdWKW5
Krypto Kayden
20 Oct 14 10:27:54
@Lord_Ashdrake something something $IOC ;)
Xrn
20 Oct 14 08:02:08
RT @AlterWhite1: If $CANN goes moon, I'm going to buy up the $IOC books simply b/c of @wizrig
Market Int Center
20 Oct 14 05:43:06
Interoil $IOC Trading Near $48.57 Support Level ( http://t.co/CdFFhTrlSf )
Intocoin Markets
19 Oct 14 16:12:04
I/OCoin Mission Statement: http://t.co/w2aNg9brtG $IOC http://t.co/vJt4w0V8Vr
Intocoin Markets
19 Oct 14 16:09:26
intocoin-io $IOC
LeSmoke
19 Oct 14 12:58:15
RT @AlterWhite1: If $CANN goes moon, I'm going to buy up the $IOC books simply b/c of @wizrig
ALTerWhite
19 Oct 14 10:03:34
If $CANN goes moon, I'm going to buy up the $IOC books simply b/c of @wizrig
JBosh
18 Oct 14 18:12:39
RT @CryptoCoinNL: 'cmon.. sell into #IOC $IOC buy order at 925.. plz.
Richard G
18 Oct 14 12:33:39
'cmon.. sell into #IOC $IOC buy order at 925.. plz.
Richard G
18 Oct 14 04:16:15
So $ioc whats up? Below 1000 is not the way to go...
Constantinos
17 Oct 14 10:09:46
RT @IO_Coin: Unique #Html5 Wallet with send via usernames #ions soon to be decentralized #Dions we are the future. $ioc #iocoin http://t.co…
Constantinos
17 Oct 14 10:09:40
RT @IO_Coin: We are unique, we are original. Nobody has a wallet with usernames like our HTML5 Wallet. $ioc #iocoin @coindesk #btc http://t…
Wizard of ICO
17 Oct 14 08:28:34
“@IO_Coin: @AdmiralAltcoin http://t.co/gp0NhOpNqL $IOC #iocoin Trust Verified 7 from CoinsSource” The problem ain't the coins. No exchanges!
Media Sentiment
17 Oct 14 08:12:58
$IOC received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 259
Market Int Center
17 Oct 14 08:12:38
Interoil $IOC Showing Bearish Technicals With Resistance At $51.95 ( http://t.co/0SZEMM9GR4 )
BlackjinCrypto
17 Oct 14 07:10:58
@IO_Coin @tarmedia @AllThingsBTC @onefix did you see this #iocoin dead #MaryJaneCoin #cannabiscoin #Swift #urocoin #archcoin #boomcoin $IOC
Adelgundis Mcglaud
17 Oct 14 07:04:47
RT @IO_Coin: #iocoin will be featured with a product placement on @tainofans @Latinlnp1 upcoming music video. @wizrig $ioc #btc http://t.c…
I/O Digital Currency
17 Oct 14 07:03:34
@AdmiralAltcoin http://t.co/8E789cpHcy $IOC #iocoin Trust Verified 7 from CoinsSource
Alexander Morris
17 Oct 14 06:55:03
$IOC: 1mRunaway+:3 [+4%,.3%offHi], PrvCHi, 25:4Accel+, tf:0111111, FirmTrnd--:+150%; TrdVol:3x:2x; TLM:0.7; ILM:0.6, PrvClGap+[+1.7%,
AllThingsBitcoin
17 Oct 14 06:54:01
RT @IO_Coin: We are unique, we are original. Nobody has a wallet with usernames like our HTML5 Wallet. $ioc #iocoin @coindesk #btc http://t…
marsal siregar
17 Oct 14 06:45:12
RT @IO_Coin: We are unique, we are original. Nobody has a wallet with usernames like our HTML5 Wallet. $ioc #iocoin @coindesk #btc http://t…
BlackjinCrypto
17 Oct 14 06:34:13
RT @IO_Coin: Great News #HTML5 Wallet for #OSX 10.10 #Yosemite available Now! $ioc #iococin #ioc #bitcoin https://t.co/nV9RFZDpcz http://t.…
BlackjinCrypto
17 Oct 14 06:34:08
RT @IO_Coin: We are unique, we are original. Nobody has a wallet with usernames like our HTML5 Wallet. $ioc #iocoin @coindesk #btc http://t…
BlackjinCrypto
17 Oct 14 06:33:53
RT @IO_Coin: Unique #Html5 Wallet with send via usernames #ions soon to be decentralized #Dions we are the future. $ioc #iocoin http://t.co…
JBosh
17 Oct 14 06:19:33
RT @IO_Coin: Unique #Html5 Wallet with send via usernames #ions soon to be decentralized #Dions we are the future. $ioc #iocoin http://t.co…
I/O Digital Currency
17 Oct 14 06:18:22
Unique #Html5 Wallet with send via usernames #ions soon to be decentralized #Dions we are the future. $ioc #iocoin http://t.co/M0ujLMTYqn
habibul fatirul
17 Oct 14 06:14:23
RT @IO_Coin: We are unique, we are original. Nobody has a wallet with usernames like our HTML5 Wallet. $ioc #iocoin @coindesk #btc http://t…
Wolf of Altstreet
17 Oct 14 06:12:00
RT @IO_Coin: We are unique, we are original. Nobody has a wallet with usernames like our HTML5 Wallet. $ioc #iocoin @coindesk #btc http://t…
JBosh
17 Oct 14 06:11:03
RT @IO_Coin: We are unique, we are original. Nobody has a wallet with usernames like our HTML5 Wallet. $ioc #iocoin @coindesk #btc http://t…
#Altcoin Devvie
17 Oct 14 06:10:15
RT @IO_Coin: We are unique, we are original. Nobody has a wallet with usernames like our HTML5 Wallet. $ioc #iocoin @coindesk #btc http://t…
I/O Digital Currency
17 Oct 14 06:09:15
We are unique, we are original. Nobody has a wallet with usernames like our HTML5 Wallet. $ioc #iocoin @coindesk #btc http://t.co/kNQe2C2oJC
oneginbsez
17 Oct 14 05:04:55
RT @Cryptovestments: #IOcoin rolling out POSv3. Pretty undervalued imho. $IOC #IOC
IT Knowingness
17 Oct 14 00:51:36
RT @IO_Coin: Great News #HTML5 Wallet for #OSX 10.10 #Yosemite available Now! $ioc #iococin #ioc #bitcoin https://t.co/nV9RFZDpcz http://t.…
AllThingsAltBitcoins
17 Oct 14 00:51:35
RT @IO_Coin: Great News #HTML5 Wallet for #OSX 10.10 #Yosemite available Now! $ioc #iococin #ioc #bitcoin https://t.co/nV9RFZDpcz http://t.…
Doge
17 Oct 14 00:51:00
RT @IO_Coin: Great News #HTML5 Wallet for #OSX 10.10 #Yosemite available Now! $ioc #iococin #ioc #bitcoin https://t.co/nV9RFZDpcz http://t.…
윤승완
16 Oct 14 23:28:04
RT @IO_Coin: Great News #HTML5 Wallet for #OSX 10.10 #Yosemite available Now! $ioc #iococin #ioc #bitcoin https://t.co/nV9RFZDpcz http://t.…
児玉
16 Oct 14 22:13:09
RT @IO_Coin: Great News #HTML5 Wallet for #OSX 10.10 #Yosemite available Now! $ioc #iococin #ioc #bitcoin https://t.co/nV9RFZDpcz http://t.…
JBosh
16 Oct 14 17:42:15
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HTML5 Digest
16 Oct 14 17:33:08
RT @IO_Coin: Great News #HTML5 Wallet for #OSX 10.10 #Yosemite available Now! $ioc #iococin #ioc #bitcoin https://t.co/nV9RFZDpcz http://t.…
I/O Digital Currency
16 Oct 14 17:32:19
Great News #HTML5 Wallet for #OSX 10.10 #Yosemite available Now! $ioc #iococin #ioc #bitcoin https://t.co/nV9RFZDpcz http://t.co/ORerq6WORs
JBosh
16 Oct 14 16:22:57
RT @blackjin999: cAll to #blackcoin #ROSCOIN #JackpotCoin #neoscoin , see #iocoin has an active developer, prices will skyrocket https://t.…
James P Worthy
16 Oct 14 15:01:42
$IOC Finlayson Takes Up Chairmanship http://t.co/iERyRqVLwW
BlackjinCrypto
16 Oct 14 14:42:56
cAll to #blackcoin #ROSCOIN #JackpotCoin #neoscoin , see #iocoin has an active developer, prices will skyrocket https://t.co/F0gmB086ZG $IOC
BlackjinCrypto
16 Oct 14 12:43:33
@CryptoCoinNL stupid investors played a large volume in the market, I hope the developer team and help drive the price to be strong $IOC
MarketCurrents
16 Oct 14 12:05:35
InterOil shares gain more than 4% http://t.co/qDToWoeMDZ $IOC $WOPEF $WOPEY $OPGYF
BlackjinCrypto
16 Oct 14 11:33:12
@Crypto_Kiwi yeah, I think $IOC has an active developer, market traders should want this, instead of playing with the coin fraud
The Daytrade
16 Oct 14 11:33:10
$IOC FT Dealreporter - Woodside Petro said to be interested in buying Interoil (IOC).. willing to pay up to $4bln -
Open Outcrier
16 Oct 14 11:32:45
$IOC Woodside petro is mentioned as suitor
Leroy Brown
16 Oct 14 11:32:36
Woodside Petro interested in $IOC; willing to pay up to $4b - Dealreporter
				
				
By  +Follow December 6, 2013 8:35AM
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