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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
Analyst Ratings
30 Mar 15 16:51:31
Want the latest upgrades & downgrades for $REXX $DM $IOC $CMN $CUB? Checkout ARN Daily http://t.co/nSJuDsYidj
SwingTradeBot
30 Mar 15 14:33:00
Scan results - Bullish Engulfing today: $TCK $MTZ $IOC $TWOU $FNFV $SKUL $WPC $OKS $KO $BVN ... http://t.co/YGW8Vtke7H
ProVesting
30 Mar 15 14:00:03
$IOC: Brokerages Set $71.88 Target Price for InterOil (NYSE:IOC): http://t.co/1qk7Qaj6zD
The Legacy News
30 Mar 15 12:42:12
Brokerages Set $71.88 Target Price for InterOil $IOC http://t.co/iTX3FBPbbB
Penny Stock Secret
30 Mar 15 05:29:31
This Guy Is Making Millions! Watch This Video Proof Here At http://t.co/NovWYe2RAx .. $IOC $IP $IPG
LeSmoke
28 Mar 15 23:20:13
RT @RoyalDOGE: Soon #IONS becomes #DIONS, Come and join us at the IOHub :) iocoinhub.io $IOC #IOcoin #BTC
Daily Stock Forecast
28 Mar 15 06:06:53
Top 5 forecasted #stocks for Monday,March 30: $GCA - Short, $EEFT - Short, #USLV - Long, $IOC - Short, $BV - Long. http://t.co/kWwX0b6Zql
Cloudnews2013
28 Mar 15 04:41:30
http://t.co/Xg42VaukAm #crude #oil $IOC
Harry Walkman
27 Mar 15 11:01:05
$IOC InterOil Corporation (USA) Analyst Rating Update http://t.co/Nl1caB8lBX
James P Worthy
27 Mar 15 11:01:03
$IOC Strong Buy: InterOil Corporation (NYSE:IOC) http://t.co/rKq8m5UtsO
DOGE
27 Mar 15 10:40:40
Soon #IONS becomes #DIONS, Come and join us at the IOHub :) iocoinhub.io $IOC #IOcoin #BTC
Market Int Center
27 Mar 15 10:14:08
Interoil $IOC Trading Near $47.45 Resistance Level ( http://t.co/xNYllBrbQE )
4-traders.com
27 Mar 15 08:23:07
#Indian Oil : Thieves dig 90-metre tunnel, steal Rs 2Cr worth IOC diesel http://t.co/kzMM6OIFg3 $IOC
ProVesting
27 Mar 15 06:35:03
$IOC: Brokerages Expect InterOil to Announce ($0.53) EPS (NYSE:IOC): http://t.co/Gun2vxsktW
Ticker Report
27 Mar 15 06:26:23
Brokerages Expect InterOil to Announce $$0.53 EPS $IOC http://t.co/avkdM15bNP
US Banking News
27 Mar 15 06:18:57
Brokerages Expect InterOil to Announce $$0.53 EPS $IOC http://t.co/49P7QrsSRu
US Banking News
27 Mar 15 06:09:10
Brokerage Give Consensus Buy Rating to InterOil $IOC http://t.co/i3K1GVDmJe
Altcoins Foundation
26 Mar 15 11:47:36
Vote for #IOCoin $IOC to get added at home of the upcoming #AltcoinsFoundation ! https://t.co/gNvwVJSC4K
Capital Market Labs
25 Mar 15 13:27:19
$CVX, $OXY, $XOM, $IOC, $SD Assets Trend Comparison http://t.co/s7eTegUmnw https://t.co/O7J0gCDLXd
Josh Rolfes
25 Mar 15 10:35:36
@twinstrader $IOC April 40 calls are free apparently http://t.co/sAvslHy2hL
AlertCo.in
25 Mar 15 10:03:37
@cryptodonexpo #Bittrex: $IOC / BTC Alert price: <= 0.000013 Current price: 0.000013 http://t.co/eTewXD3v4B
Capital Market Labs
25 Mar 15 08:11:31
$CVX, $OXY, $XOM, $IOC, $SD Assets Trend Comparison http://t.co/s7eTegUmnw https://t.co/O7J0gCDLXd
Capital Market Labs
25 Mar 15 05:45:22
$CVX, $OXY, $XOM, $IOC, $SD Assets Trend Comparison http://t.co/s7eTegUmnw https://t.co/O7J0gCDLXd
Breaking News Now
25 Mar 15 03:10:02
$IOC: New SEC Filing for IOC: Form 6-K (No. 0001144204-15-018188): http://t.co/tomVrKN6hR
SEC Filings Reporter
25 Mar 15 03:09:20
NEW SEC Filing for $IOC filed a moment ago: http://t.co/nyRalI4raW http://t.co/tTCFh9pzA6
Capital Market Labs
24 Mar 15 21:10:53
$CVX, $OXY, $XOM, $IOC, $SD Assets Trend Comparison http://t.co/s7eTehbXM6 https://t.co/O7J0gCmb5F
Daily Stock Forecast
24 Mar 15 20:24:51
Top 5 forecasted #stocks for Wednesday,March 25: $DSLV - Short, $EGHT - Long, $QUNR - Long, $FRSH - Long, $IOC - Long.http://t.co/kWwX0b6Zql
Samuel Brown
24 Mar 15 15:33:27
$IOC Strong Buy: InterOil Corporation (NYSE:IOC) http://t.co/yE59My0h1G
Alexander Morris
24 Mar 15 12:24:03
$IOC: 3mRunaway+:1 [+3%,.2%offHi], 0NearHi, PrvCHi+, allTFs+; TLM:1.6; ILM:1.2, 1WkHi+, DyVol:359T:0.8x:0.9x, DyRng:4.2%:1x:1.2x,
Market Int Center
24 Mar 15 11:44:09
Interoil $IOC Trading Near $45.84 Resistance Level ( http://t.co/yeBDFBsYRA )
Thomas Collins
24 Mar 15 06:31:54
$IOC Strong Buy: InterOil Corporation (NYSE:IOC) http://t.co/BgPtBr2UFr
				
				
By  +Follow December 6, 2013 8:35AM
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