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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
WKRB News
18 Apr 15 07:36:52
Analysts Set InterOil Target Price at $59.98 $IOC http://t.co/HOE5nG8kKj
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17 Apr 15 15:56:12
$ANF Opinions Updated Friday, April 17, 2015 5:59:25 PM $ICPT $BABA $IOC $MDT http://t.co/kAegq2co1S
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17 Apr 15 15:54:39
$AMD Stock Message Board Updated Friday, April 17, 2015 6:03:30 PM $FSLR $IOC $AUY $CAT http://t.co/asz9iqMY0X
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$CSIQ Company Info Updated Friday, April 17, 2015 5:03:32 PM $IOC $XLK $SLTD $SLTD http://t.co/SgdRNWqZI6
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17 Apr 15 12:52:13
$JNK Reviews Updated Friday, April 17, 2015 3:03:29 PM $IOC $AOL $P $CHK http://t.co/LtGy0wipsI
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17 Apr 15 12:34:02
$IOC light volume but acting like news is around the corner.
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17 Apr 15 11:52:06
$XLY Recent News Updated Friday, April 17, 2015 1:59:26 PM $IBM $IOC $ECIGD $HAL http://t.co/8R19xotjXg
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17 Apr 15 10:51:15
$IOC Company Info Updated Friday, April 17, 2015 1:07:29 PM $COH $IYR $HK $APA http://t.co/uBv8xeANRS
lenteracoin
17 Apr 15 10:27:12
RT @IO_Coin: New I/O Coin Dev Update! https://t.co/SwDLCGAGbX Thanks Everyone #iocoin #ioc $ioc #bitcoin #peercoin #btc
AllThingsBitcoin
17 Apr 15 10:17:31
RT @IO_Coin: New I/O Coin Dev Update! https://t.co/SwDLCGAGbX Thanks Everyone #iocoin #ioc $ioc #bitcoin #peercoin #btc
#Altcoin Devvie
17 Apr 15 10:12:56
RT @IO_Coin: New I/O Coin Dev Update! https://t.co/SwDLCGAGbX Thanks Everyone #iocoin #ioc $ioc #bitcoin #peercoin #btc
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17 Apr 15 10:10:01
RT @IO_Coin: New I/O Coin Dev Update! https://t.co/SwDLCGAGbX Thanks Everyone #iocoin #ioc $ioc #bitcoin #peercoin #btc
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17 Apr 15 09:41:30
New I/O Coin Dev Update! https://t.co/SwDLCGAGbX Thanks Everyone #iocoin #ioc $ioc #bitcoin #peercoin #btc
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17 Apr 15 08:31:35
Interoil $IOC Trading Near $48.70 Support Level ( http://t.co/EMmDslavDA )
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17 Apr 15 07:26:27
Macquarie Lowers InterOil to Neutral $IOC http://t.co/GZZLskTO26
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17 Apr 15 06:25:44
$IOC Short Sales Updated Friday, April 17, 2015 09:11:32 AM $AMD $MDT $DHI $BMY http://t.co/sdxoPAMJVs
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17 Apr 15 05:46:16
$AFSI Investor Opinions Updated Friday, April 17, 2015 08:07:28 AM $AZN $IOC $FDO $DG http://t.co/MwkzYG6ukK
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16 Apr 15 23:40:41
$FDO Investor Opinions Updated Friday, April 17, 2015 02:03:25 AM $LO $HPQ $MU $IOC http://t.co/qaPDLaRADY
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16 Apr 15 23:12:30
RT @IHNewsDesk: $DDD Investor Opinions Updated Friday, April 17, 2015 01:11:39 AM $AVP $IOC $KSU $CVX http://t.co/XP0s8m7BKQ
IH News Desk
16 Apr 15 22:19:47
$IOC Opinions Updated Friday, April 17, 2015 01:11:39 AM $AA $BBRY $GS $FXE http://t.co/dX12kU7apS
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$DDD Investor Opinions Updated Friday, April 17, 2015 01:11:39 AM $AVP $IOC $KSU $CVX http://t.co/XP0s8m7BKQ
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16 Apr 15 20:18:45
$EWZ Short Sales Updated Thursday, April 16, 2015 11:11:37 PM $IOC $FFIV $SLB $KMI http://t.co/fqwmGtYFdH
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16 Apr 15 19:36:36
$MOS Company Info Updated Thursday, April 16, 2015 10:07:31 PM $IOC $HD $BP $COST http://t.co/bqR8udaEKy
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16 Apr 15 19:18:10
$DOW Filings Updated Thursday, April 16, 2015 10:11:35 PM $IOC $XLU $FXI $CAT http://t.co/Mpc05OZwib
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16 Apr 15 18:36:13
$MMM Short Sales Updated Thursday, April 16, 2015 8:59:22 PM $FXE $CELG $IOC $NOK http://t.co/P1tv87FrtS
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16 Apr 15 17:46:21
the 200% fib https://t.co/KkNDkzvFhk $IOC $AMZN http://t.co/7eTixyRAT2
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16 Apr 15 17:36:12
$CBI News Updated Thursday, April 16, 2015 8:07:27 PM $IOC $BMY $DHI $JBLU http://t.co/9CoRUqBocp
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16 Apr 15 17:36:12
$BP Filings Updated Thursday, April 16, 2015 8:07:27 PM $MOS $MDCN $IOC $MNST http://t.co/VyUGNN5RBc
Dakota Financial
16 Apr 15 12:14:01
InterOil Stock Rating Lowered by Macquarie $IOC http://t.co/u3A4xr7ECa
Media Sentiment
16 Apr 15 09:09:13
$IOC received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 304
Market Int Center
16 Apr 15 09:03:02
Interoil $IOC Showing Bullish Technicals With Support At $46.80 ( http://t.co/bQlekXMGDG )
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16 Apr 15 01:26:16
RT @Cloudnews2013: http://t.co/Xg42VaukAm #crude #oil $IOC
WKRB News
15 Apr 15 15:37:24
InterOil Downgraded by Macquarie to “Neutral” $IOC http://t.co/wMckaAegKk
Major Crypt
15 Apr 15 12:53:33
$ioc starts to shine https://t.co/qmAiimeU2y http://t.co/A9aqN74RNI
US Banking News
15 Apr 15 09:05:30
InterOil Given Average Recommendation of “Buy” by Brokerages $IOC http://t.co/j5VxCMYo71
Ticker Report
15 Apr 15 08:56:41
InterOil Given Average Recommendation of “Buy” by Brokerages $IOC http://t.co/CaARsYE6gq
Ben
15 Apr 15 08:41:58
Taking some profits in $ioc. Patience pays ;) http://t.co/AXxEZm1z1b
BNK Invest
15 Apr 15 08:08:20
Video: $VEA $FDT Big ETF Inflows $DNSKY $RUK $KING $IOC #stocks http://t.co/kESajGy3eh
stocktargetprices
15 Apr 15 07:23:40
$IOC Macquarie lowers target to $50 from $60. Downgrades to Neutral from Outperform.
The Fly
15 Apr 15 07:00:27
On The Fly: Analyst Downgrade Summary $ALU $BLDR $LFC $XEC $CCU $CMI $DCO $EMES $FMSA $FCE.A $GTE $HCLP $IOC $... http://t.co/Dsy0xLc1nI
Ben
15 Apr 15 06:51:34
$qihu and $ioc paying! Scale some into strength! http://t.co/OBwxYMlSQk
#
15 Apr 15 06:10:53
Macquarie Downgrades InterOil To Neutral $IOC via @benzinga http://t.co/8e3R1jDUSx
Ticker Report
15 Apr 15 05:26:49
InterOil Lowered to Neutral at Macquarie $IOC http://t.co/pYork4avVq
Sleek Money
15 Apr 15 05:20:27
InterOil Lowered to Neutral at Macquarie $IOC http://t.co/tcCbsBy155
Media Sentiment
15 Apr 15 05:04:58
$IOC received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 75
US Consumer News
15 Apr 15 05:02:01
InterOil downgraded by Macquarie to neutral. http://t.co/CgRBUUJ3nj $IOC #IOC
Analyst Ratings
15 Apr 15 05:01:57
InterOil downgraded by Macquarie to neutral. http://t.co/bHPaw6Gz1y $IOC #IOC
Penny Stock Secret
14 Apr 15 20:53:57
Yesterday We Made $89,000 In Just One Trade More Info Here http://t.co/NovWYeksZ7 .. $IOC $IP $IPG https://t.co/nmKs04s7wP
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14 Apr 15 11:03:44
$IOC Hedge Funds Are Crazy About InterOil Corporation (USA) (NYSE:IOC) http://t.co/YzZKJn2NH1
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14 Apr 15 06:33:10
Potential Interoil $IOC Trade Has 7.84% Downside Protection ( http://t.co/EmEy512Rvs )
				
				
By  +Follow December 6, 2013 8:35AM
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