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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
AllThingsBitcoin
19 Sep 14 16:45:36
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xushenghang
19 Sep 14 16:23:19
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JB
19 Sep 14 16:23:12
RT @IO_Coin: We want to thank RAT4 from @CoinBlack who took time to review our POS I/O code. On block 100k we will start the journey $ioc #…
#Altcoin Devvie
19 Sep 14 16:22:55
RT @IO_Coin: We want to thank RAT4 from @CoinBlack who took time to review our POS I/O code. On block 100k we will start the journey $ioc #…
AllThingsAltBitcoins
19 Sep 14 16:22:42
RT @IO_Coin: We want to thank RAT4 from @CoinBlack who took time to review our POS I/O code. On block 100k we will start the journey $ioc #…
I/O Coin Official
19 Sep 14 16:22:04
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LuvChenko
19 Sep 14 16:12:31
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Mohammed al-Bukhari
19 Sep 14 16:08:29
RT @Mut_Coin: RT @IO_Coin : We have rebranded POS 3.0 to POS I/O since we have revolutionised POS. We are in our own I/O Stratosphere. $IOC…
AllThingsAltBitcoins
19 Sep 14 16:08:12
RT @Mut_Coin: RT @IO_Coin : We have rebranded POS 3.0 to POS I/O since we have revolutionised POS. We are in our own I/O Stratosphere. $IOC…
I/O Coin Official
19 Sep 14 16:07:46
We have rebranded POS 3.0 to POS I/O since we have revolutionized POS. We are in our own I/O Stratosphere. $IOC #btc http://t.co/Wz4VNOXeoJ
Mutar Jr.
19 Sep 14 16:07:25
RT @IO_Coin : We have rebranded POS 3.0 to POS I/O since we have revolutionised POS. We are in our own I/O Stratosphere. $IOC #Bitcoin
AllThingsBitcoin
19 Sep 14 15:39:20
RT @IO_Coin: We are happy to announce THE NEW I/O Coin POS 3.0 WhitePaper. $ioc #ltc #bc #iocoin #ioc #bitcoin #btc @coindesk https://t.co…
JB
19 Sep 14 15:13:21
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TheNightMan
19 Sep 14 15:10:44
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#Altcoin Devvie
19 Sep 14 14:56:55
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BitDenis
19 Sep 14 14:54:36
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Rowena Kaminski
19 Sep 14 14:53:22
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I/O Coin Official
19 Sep 14 14:52:57
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JB
19 Sep 14 14:50:02
RT @IO_Coin: We are happy to announce THE NEW I/O Coin POS 3.0 WhitePaper. $ioc #ltc #bc #iocoin #ioc #bitcoin #btc @coindesk https://t.co…
I/O Coin Official
19 Sep 14 14:42:50
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Rowena Kaminski
19 Sep 14 14:41:21
RT @IO_Coin: We are happy to announce THE NEW I/O Coin POS 3.0 WhitePaper. $ioc #ltc #bc #iocoin #ioc #bitcoin #btc @coindesk https://t.co…
I/O Coin Official
19 Sep 14 14:40:51
We are happy to announce THE NEW I/O Coin POS 3.0 WhitePaper. $ioc #ltc #bc #iocoin #ioc #bitcoin #btc @coindesk https://t.co/55Amw27nak
J R
19 Sep 14 14:24:29
Be aware of $HAL $IOC $LXC $SDC $XST remember they will enter in the new @MintPalExchange in 2 days #Altcoin
TheNightMan
19 Sep 14 13:39:21
RT @IO_Coin: POS 3.0 WhitePaper to be released soon. Stay with us. #iocoin $ioc #ioc #bitcoin #litecoin
Day Trade Alerts
19 Sep 14 13:15:51
via #AlertTrade SHORT Seller Alert $IOC - INTEROIL CORP #ShortSeller #Stocks http://t.co/VS8RO1bzXJ
Bitcoin RetweetGroup
19 Sep 14 12:50:11
RT @IO_Coin: POS 3.0 WhitePaper to be released soon. Stay with us. #iocoin $ioc #ioc #bitcoin #litecoin
JB
19 Sep 14 12:49:18
RT @IO_Coin: POS 3.0 WhitePaper to be released soon. Stay with us. #iocoin $ioc #ioc #bitcoin #litecoin
#Altcoin Devvie
19 Sep 14 12:28:06
RT @IO_Coin: POS 3.0 WhitePaper to be released soon. Stay with us. #iocoin $ioc #ioc #bitcoin #litecoin
I/O Coin Official
19 Sep 14 12:22:02
POS 3.0 WhitePaper to be released soon. Stay with us. #iocoin $ioc #ioc #bitcoin #litecoin
Techno.CAT.®
19 Sep 14 11:37:33
RT @Pixelperfecti0n: Only $IOC has delivered what it said #IONS Soon to have HTML5 wallet and POS3. The best POS #coin in #crypto !
CryptoCoinNL
19 Sep 14 10:53:50
RT @Pixelperfecti0n: Only $IOC has delivered what it said #IONS Soon to have HTML5 wallet and POS3. The best POS #coin in #crypto !
Media Sentiment
19 Sep 14 10:50:21
$IOC received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 258
Market Int Center
19 Sep 14 10:47:58
Interoil $IOC Showing Bearish Technicals With Resistance At $60.19 ( http://t.co/ywSPHa753P )
Surestrike
19 Sep 14 10:13:04
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Surestrike
19 Sep 14 09:06:47
Only $IOC has delivered what it said #IONS Soon to have HTML5 wallet and POS3. The best POS #coin in #crypto !
yani hiroshi
19 Sep 14 08:57:09
RT @IO_Coin: $IOC BIG giveaways to all our #facebook followers only Make sure to follow #iocoin at: https://t.co/LR0jbeepjx & create IONs n…
#Altcoin Devvie
19 Sep 14 08:55:50
RT @IO_Coin: $IOC BIG giveaways to all our #facebook followers only Make sure to follow #iocoin at: https://t.co/LR0jbeepjx & create IONs n…
I/O Coin Official
19 Sep 14 08:55:28
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9trading Stocks
19 Sep 14 08:29:35
$IOC Looks like a breakout at $60.99 with a short term target of $72.45. http://t.co/akTheWhFyS
Surestrike
19 Sep 14 02:25:28
#Congratulations to all #iocoin loyal #Facebook fans. We have reached (& passed) 100 #likes. 10 FB fans will #win 500 $IOC Thank you all!
Surestrike
19 Sep 14 02:16:27
RT @kayden1989: 10 more like before the big $IOC giveaway https://t.co/EuURf7hh0L Like for a chance to win 2000 $IOC @IO_Coin @Pixelperfect…
#Altcoin Devvie
18 Sep 14 23:40:41
RT @kayden1989: 10 more like before the big $IOC giveaway https://t.co/EuURf7hh0L Like for a chance to win 2000 $IOC @IO_Coin @Pixelperfect…
Krypto Kayden
18 Sep 14 23:38:14
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CrypTrader
18 Sep 14 14:31:15
RT @DavidMckee87: https://t.co/gP7Dw6xfK3 $IOC / BTC IOCoin on Bittrex - ฿0.00003777 @CrypTrader
Doge
18 Sep 14 10:59:15
RT @IO_Coin: This is not about who can pump the fastest but who can outlast the competition. We are building a strong foundation for the fu…
Sleek Money
18 Sep 14 09:53:24
InterOil Coverage Initiated at Credit Suisse $IOC http://t.co/wqxp5ZC69J
Market Int Center
18 Sep 14 08:01:51
Potential Interoil $IOC Trade Has 7.27% Downside Protection ( http://t.co/01ROtcOL8d )
Van Dinh
18 Sep 14 07:01:23
RT @theflynews: $ABY $ACTG $BABA $AZSEY $BDBD $BEP $CCOI $DISCA $FCB $OAKS $FRM $FSNN $HELE $ICLR $IOC $JAH $LVLT $EVAR $NYLD ... http://t.…
The Fly
18 Sep 14 07:00:30
$ABY $ACTG $BABA $AZSEY $BDBD $BEP $CCOI $DISCA $FCB $OAKS $FRM $FSNN $HELE $ICLR $IOC $JAH $LVLT $EVAR $NYLD ... http://t.co/iRd7WmzZwb
The Option Fox
18 Sep 14 06:24:37
$IOC calls on watch near open with a target of 62 today.
				
				
By  +Follow December 6, 2013 8:35AM
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