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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
Irma Doucet
24 Oct 14 13:02:33
$IOC InterOil Offers Exploration Update for Raptor-1, Bobcat-1 http://t.co/FNwWFAhOKZ
InterCooler
24 Oct 14 09:48:44
InterOil Cut to Underperform at Zacks $IOC http://t.co/V68eMCpfau
Clair Voight
24 Oct 14 09:31:02
$IOC Volume Buzz: InterOil Corporation (USA) (NYSE:IOC), Williams Partners L.P. ... http://t.co/CdRo8fzoqb
wininstocks2014
24 Oct 14 09:10:48
IOC 54.24 Stock Charts $IOC InterOil Corp. (NYSE) Last Updated: 10/24/2014 11:10:50 IOC Stock Chart - 1 Month http://t.co/KikXAOsOEM
Media Sentiment
24 Oct 14 06:59:51
$IOC received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 283
Market Int Center
24 Oct 14 06:54:38
Interoil $IOC Showing Bearish Technicals ( http://t.co/jWyjGrFnXZ )
#Altcoin Devvie
24 Oct 14 03:27:01
RT @BTC_kahir: $IOC great news coming soon ! stay tuned
BTC Kahir
24 Oct 14 02:15:05
$IOC great news coming soon ! stay tuned
윤승완
23 Oct 14 16:21:33
RT @IO_Coin: We would like to gather our community to discuss the DIons WhitePaper on release date. We need to choose a time & platform. $i…
Doge
23 Oct 14 13:03:29
RT @IO_Coin: Update from our team. #iocoin $ioc https://t.co/7jPjxdWKW5
Major Crypt
23 Oct 14 11:40:41
RT @IO_Coin: We would like to gather our community to discuss the DIons WhitePaper on release date. We need to choose a time & platform. $i…
LeSmoke
23 Oct 14 10:16:44
RT @IO_Coin: We would like to gather our community to discuss the DIons WhitePaper on release date. We need to choose a time & platform. $i…
Sleek Money
23 Oct 14 08:52:49
Zacks Downgrades InterOil to Underperform $IOC http://t.co/NJUgWT2WxR
BTC Kahir
23 Oct 14 08:35:14
RT @IO_Coin: We would like to gather our community to discuss the DIons WhitePaper on release date. We need to choose a time & platform. $i…
Juan Carlos Minero
23 Oct 14 08:15:07
$IOC HAY HAY HAY!!!
Wolf of Altstreet
23 Oct 14 08:11:21
RT @IO_Coin: We would like to gather our community to discuss the DIons WhitePaper on release date. We need to choose a time & platform. $i…
BitDaddy
23 Oct 14 08:05:08
RT @IO_Coin: We would like to gather our community to discuss the DIons WhitePaper on release date. We need to choose a time & platform. $i…
I/O Digital Currency
23 Oct 14 08:03:54
We would like to gather our community to discuss the DIons WhitePaper on release date. We need to choose a time & platform. $ioc #iocoin
wininstocks2014
23 Oct 14 06:52:29
IOC 53.50 Stock Charts $IOC InterOil Corp. (NYSE) Last Updated: 10/23/2014 08:52:28 IOC Stock Chart - 1 Month http://t.co/bxFk1iEwRw
BitDaddy
22 Oct 14 23:42:41
RT @IO_Coin: Update from our team. #iocoin $ioc https://t.co/7jPjxdWKW5
MICHAEL FILLOON
22 Oct 14 19:43:49
InterOil downgraded by Zacks to underperform. $51.40 PT. http://t.co/MgexWtnqnG $IOC #IOC via @RatingsNetwork http://t.co/ucgCUg8F7Z
BlackjinCrypto
22 Oct 14 17:53:56
#iocoin solid team there at $IOC saw the pump is coming slowly bring the pope entered the market https://t.co/F0gmB086ZG $ARCH $DOGE $XCASH
BlackjinCrypto
22 Oct 14 17:53:08
#iocoin solid team there at $IOC saw the pump is coming slowly bring the pope entered the market https://t.co/F0gmB086ZG #bitcointrader $DRK
BlackjinCrypto
22 Oct 14 17:52:05
#iocoin solid team there at $IOC saw the pump is coming slowly bring the pope entered the market https://t.co/F0gmB086ZG $BTCUSD #bitcoin
BlackjinCrypto
22 Oct 14 17:51:01
#iocoin solid team there at $IOC saw the pump is coming slowly bring the pope entered the market https://t.co/F0gmB086ZG $swift $ULTC $URO
BlackjinCrypto
22 Oct 14 17:49:36
#iocoin solid team there at $IOC saw the pump is coming slowly bring the pope entered the market https://t.co/F0gmB086ZG $CANN $VRC $BTC
sata3ssd
22 Oct 14 16:53:20
RT @flyingheadofbtc: I've been hoarding $IOC over the last days.
LeSmoke
22 Oct 14 15:07:46
RT @blackjin999: #iocoin $IOC did to buy and resell for a higher volume pump, is already showing real strength of the team to bring the pop…
BTC Kahir
22 Oct 14 13:49:10
RT @flyingheadofbtc: I've been hoarding $IOC over the last days.
BlackjinCrypto
22 Oct 14 13:31:32
#iocoin $IOC did to buy and resell for a higher volume pump, is already showing real strength of the team to bring the pope into the market
Media Sentiment
22 Oct 14 12:05:19
$IOC received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 521
Analyst Ratings
22 Oct 14 12:03:18
InterOil downgraded by Zacks to underperform. $51.40 PT. http://t.co/0caRwzxgC9 $IOC #IOC
US Banking News
22 Oct 14 11:57:14
InterOil Rating Lowered to Underperform at Zacks $IOC http://t.co/2lV5lqsQkt
US Consumer News
22 Oct 14 11:50:10
InterOil downgraded by Zacks to underperform. $51.40 PT. http://t.co/YZtdzJs42X $IOC #IOC
Flying Head Of BTC
22 Oct 14 11:32:02
I've been hoarding $IOC over the last days.
BlackjinCrypto
22 Oct 14 10:59:45
good job for the team #iocoin $IOC, sell and buy back for high volume pump, invites pope to enter this market glance, volume bittrex 4.7BTC
Cryptonews
22 Oct 14 10:42:26
RT @pumpa007: "@TheBitcoinGuru: #ultc new insurance features is gonna make this coin the next #drk" $ultc $ltc $btc $doge #altcoin #cryptoc…
Rowena Kaminski
22 Oct 14 10:39:16
RT @pumpa007: "@TheBitcoinGuru: #ultc new insurance features is gonna make this coin the next #drk" $ultc $ltc $btc $doge #altcoin #cryptoc…
#Altcoin Devvie
22 Oct 14 10:38:35
RT @pumpa007: "@TheBitcoinGuru: #ultc new insurance features is gonna make this coin the next #drk" $ultc $ltc $btc $doge #altcoin #cryptoc…
pumpa007
22 Oct 14 10:37:23
"@TheBitcoinGuru: #ultc new insurance features is gonna make this coin the next #drk" $ultc $ltc $btc $doge #altcoin #cryptocurrency $ioc
BlackjinCrypto
22 Oct 14 10:35:34
@CryptoCoinNL #iocoin already provide best updates, only requiring compactness team, lure investors whales come to see a high volume $IOC
BTC Kahir
22 Oct 14 07:39:49
RT @IO_Coin: Update from our team. #iocoin $ioc https://t.co/7jPjxdWKW5
[Romano]
22 Oct 14 07:25:41
$IOC another 10x down! Finally! It's getting so low that Pixelperfecti0n never be able to sell with profits.
MarketCurrents
22 Oct 14 06:12:42
InterOil reports early results of Papua New Guinea drilling program http://t.co/SDYuWEjifO #premarket $IOC
BlackjinCrypto
21 Oct 14 21:15:03
sell and buy back high-volume pumps, invites investors to enter the market glanced #iocoin $IOC https://t.co/F0gmB086ZG from team asian !!!
児玉
21 Oct 14 15:07:06
RT @IO_Coin: Update from our team. #iocoin $ioc https://t.co/7jPjxdWKW5
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 )
				
				
By  +Follow December 6, 2013 8:35AM
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