logo
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

 


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

By  +Follow December 6, 2013 8:35AM
Share:
Tickers Mentioned:

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. To read our full disclosure, please go to: http://www.equities.com/disclaimer


Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for IOC
Penny Stock Secret
6 Jul 15 02:49:30
$71,000 in ONE TRADE!! By Follwing Their Signals More Info Here http://t.co/SVqoMkrw2z .. $IOC $IP $IPG
ProTradersNews
5 Jul 15 16:19:05
$IOC: Company Shares of InterOil Corporation Drops by -4.12%: http://t.co/Yv48SOfH7d
AAKademiKK
5 Jul 15 13:19:22
Do I play the bounce or be patient...?! lol $IOC/BTC chart https://t.co/axCgqdJCbt
Investors Hangout
4 Jul 15 17:49:04
XAU.V BitGold Inc. Filings http://t.co/gyXlxSmNia $XAU.V $QTMM $IOC $GME #XAU.V #invest #stockmarket
Lucky Jimmy
4 Jul 15 17:42:33
NVS Novartis A G Last Trade http://t.co/QoJKnSyNQJ $NVS $BOND $JNK $IOC #NVS #finance #stock
Investors Hangout
4 Jul 15 17:39:33
IOC InterOil Corp. Bid Size http://t.co/yzEQSzbswK $IOC $FBIOX $KBE $V #IOC #stocks #stocks
AltcoinLive bot
4 Jul 15 08:02:31
removed $IOC buywall 13.3btc @ 0.00008000 http://t.co/vlhYtoKDSe #altcoinlive
J P Gold
4 Jul 15 02:01:16
One of the better distributions in #crypto & the #best #staking loyal followers. #iocoin $IOC https://t.co/pdeLFJxFB3
JackPot Mini Mart
3 Jul 15 21:38:31
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
DC Party Rentals
3 Jul 15 21:36:21
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
AltcoinLive bot
3 Jul 15 15:24:47
new $IOC buywall 13.3btc @ 0.00008000 http://t.co/vlhYtoKDSe #altcoinlive
MarketBeatCom
3 Jul 15 14:16:16
Want the latest upgrades & downgrades for $ARE $EXXI $REXX $DM $IOC? Checkout MarketBeat Daily http://t.co/nSJuDsYidj
Jack Trader
3 Jul 15 11:05:23
$IOC InterOil Appoints BG Group's Former CEO As New Chairman http://t.co/pggfOZrskM
Crypto Rachit
3 Jul 15 11:00:58
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
Natalie Reyn
3 Jul 15 11:00:26
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
Modeling Agency LV
3 Jul 15 09:56:26
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
Peter Bardens
3 Jul 15 08:33:41
$IOC InterOil Corporation Has Struck Black Gold (IOC) http://t.co/5ryiZhr3hH
Jeffrey Blake
3 Jul 15 08:33:33
$IOC InterOil Appoints BG Group's Former CEO As New Chairman http://t.co/rr4xWr1G43
StockNewsWires
3 Jul 15 07:19:01
$IOC: Stocks Creates Investor's Concerns- InterOil Corporation (NYSE:IOC ...: http://t.co/aoKaq8BV9A
InvestWithConf
3 Jul 15 05:26:02
$IOC is rated BUY, 11.2% upside by Wall Street analysts based on average ratings/targets http://t.co/jhh8sJ8tWX http://t.co/EVJ5IhiD1Y
Milon Islam
3 Jul 15 04:02:34
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
TimeForGrowth
3 Jul 15 00:36:03
$IOC: Wall Street analysts bullish on IOC's earnings growth: http://t.co/3a9kQN84cs http://t.co/1N3ZjKcAhE
WorldCoinIndex
2 Jul 15 22:51:41
Crypto-currency winners http://t.co/s0Ob1REGYp $GHC $XC $EPY $VOOT $IOC http://t.co/kI0D2J5R4l
AltcoinLive bot
2 Jul 15 20:23:09
removed $IOC buywall 13.3btc @ 0.00008500 http://t.co/vlhYtoKDSe #altcoinlive
AltcoinLive bot
2 Jul 15 17:50:20
new $IOC buywall 13.3btc @ 0.00008500 http://t.co/vlhYtoKDSe #altcoinlive
Bella Vita TV
2 Jul 15 17:41:55
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
JTE Live
2 Jul 15 17:28:49
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
CryptoBrett
2 Jul 15 17:27:12
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
EmmeGirls.com LLC
2 Jul 15 17:26:54
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
Todd Burger
2 Jul 15 17:26:19
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
GlobalBoost dev team
2 Jul 15 17:25:49
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
James Porter
2 Jul 15 17:22:27
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
GlobalBoost®
2 Jul 15 17:17:08
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
YesMines.com
2 Jul 15 17:16:03
RT @sasha35625: Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
sasha ivanov
2 Jul 15 17:01:27
Top tags $GLD -- 19 $BSTY -- 16 $16BIT -- 11 $IOC -- 5 $POT -- 4
sasha ivanov
2 Jul 15 17:01:27
Trending $GLD -- 7 $BSTY -- 7 $IOC -- 5 $POT -- 4 $RBY -- 4
1 Bitcoins
2 Jul 15 16:38:32
RT @AltcoinLiveBot: new $IOC buywall 10.1btc @ 0.00009001 http://t.co/vlhYtoKDSe #altcoinlive
AltcoinLive bot
2 Jul 15 16:33:56
removed $IOC buywall 10.1btc @ 0.00009001 http://t.co/vlhYtoKDSe #altcoinlive
AltcoinLive bot
2 Jul 15 16:32:57
new $IOC buywall 10.1btc @ 0.00009001 http://t.co/vlhYtoKDSe #altcoinlive
#Altcoin Devvie
2 Jul 15 16:32:55
RT @AltcoinLiveBot: removed $IOC buywall 10.0btc @ 0.00009850 http://t.co/vlhYtoKDSe #altcoinlive
AltcoinLive bot
2 Jul 15 16:29:57
removed $IOC buywall 10.0btc @ 0.00009850 http://t.co/vlhYtoKDSe #altcoinlive
Market Int Center
2 Jul 15 12:03:06
Potential Interoil $IOC Trade Has 6.15% Downside Protection ( http://t.co/04hEaF4pey )
Stocks On The Move
2 Jul 15 11:45:27
InterOil, partners confirm Total's Elk-Antelope plan http://t.co/pMBMtU9Rc6 $IOC $TOT
Energy Stocks SA
2 Jul 15 11:45:27
InterOil, partners confirm Total's Elk-Antelope plan http://t.co/ndJbfHJbc7 $IOC $TOT
Breaking News
2 Jul 15 11:45:26
InterOil, partners confirm Total's Elk-Antelope plan http://t.co/DKSUMwtv0K $IOC $TOT
Coinigy
2 Jul 15 10:04:39
RT @cryptonic27: $ioc #iocoin ok i couldnt stay away from crypto, i lied. 38.2 tag again. https://t.co/ic16TX8Uly i think weak hands are be…
AltcoinLive bot
2 Jul 15 07:58:19
new $IOC buywall 10.0btc @ 0.00009850 http://t.co/vlhYtoKDSe #altcoinlive
CrazyC-io
2 Jul 15 07:31:06
#iocoin $ioc so theres just 250k ioc on the sell books with majority in the 15k to 25k range. May take some time bt the skies are clearing
Breaking News Now
2 Jul 15 07:29:05
$IOC: Elk-Antelope Joint Venture selects LNG Project sites: http://t.co/Qingn8WViN
CrazyC-io
2 Jul 15 05:31:21
#iocoin $ioc Quote me "iocoin will moon". Huge suppression going on, 11 million coins staking. This is crazy. #dataonblockchain #sidechains
				
				
By  +Follow December 6, 2013 8:35AM
Share:

Comments

 

blog comments powered by Disqus

 

 Today's Must Reads

Microsegmentation: The Future of Cybersecurity?


How this Playboy Playmate Became a Better Stock Trader Than You

Long Term Rates Are On The Up…What’s Next?

The Modern Web: So Many Ways to Invest in Wireless Mobile Stocks

It's Time for the Rest of the Country to Legalize Weed

 

Do you expect a 10% correction by the end of 2015? in Equities.com Polls on LockerDome

About us

Equities.com is an advanced financial data portal and social network designed to connect self-directed investors with the world’s most innovative startup and small cap companies. Through our in-depth coverage of small cap markets, comprehensive research and stock valuation reports, state of the art issuer products, and world class events, Equities.com provides the social tools and insight that drive tomorrow’s investment relationships and opportunities.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register

LOG IN