'TxPm' pid='31373' datel Wrote:Anyone that expected a partner announcement today hasnt been following IOC for long enough. Personally I am quite pleased with todays report. Partner announcement by EOY should boost the pps considerably over the next few weeks. Drilling plan and financing addresses two of biggest issues I have heard from people. Cash should no longer be an issue for the firm as we have financing in place now to hold us over until the SD. The new drilling plan has IOC doing what IOC does best and that is finding the gas & hopefully soon Oil. 2014 should turn out to be the year IOC's pps finally begins to trade at fair value

EXACTLY right - I'm a former NYSE CFO - there is no way you can hold off a partnership announcement his big for an earnings call...too material...so best you can hope for is what we got - promise of one in the very near future and some nice drilling updates...I will be adding tomorrow.

'ArtM72' pid='31370' datel Wrote:That is quite a drilling plan announcement. Put together with the bridge loans and we have a very positive outlook. The negative? It will be partner announcement before the end of the year. Been there, done that already. I'd have been much, much happier to see PSA announcements by that time.

"Negotiations with a number of supermajors relating to the monetization of the Elk and Antelope resource in final stages; announcement expected by year end".  Hession previously referred to "completing" those negotiations in a "very reasonable time frame", and IMO what he means here IS a SPA "expected by year end", which obviously would include the identity of development partner(s).  Perhaps we'll get more clarity tomorrow. 

'Palm' pid='31394' datel Wrote:Aye Tucker, someone call you for some acuity reads for OSH? Good call too on the DPE archives; they finally listened.

Refered a spectrum of inquires to the working committee at GABP.  In the print view... triangle optics catch that E to a H.

Ha ha

Cheers

'UncleT' pid='31393' dateline='<a href="tel:1384212 Wrote:Can someone shed a little more light on this for me? Midstream Liquefaction On August 6, 2013, InterOil signed an agreement with PacLNG relating to the alignment of interests in the Midstream – Liquefaction Joint Venture to those in the PRL15. Following the alignment, the Company’s interest in the joint venture is 77.165% and PacLNG’s interest is 22.835%. The Midstream Liquefaction segment had a net gain of $2.4 million during the quarter mainly due to $2.6 million profit recognized on the disposal of our interest in PNG LNG as a result of the equalization agreement with PacLNG.

Uncle T, this Note 15 from the financials fully explains what went on here

'ArtM72' pid='31380' datel Wrote:

'Gator' pid='31376' datel Wrote:

'Palm' pid='31368' datel Wrote:As good are 1. The announced drilling plans; Raptor, Wahoo, new Bobcat (between EA and Tri) and other prospects to meet license requirements. 2. With the pull-back on cash expenditures their unrestricted cash is of course down, but nowhere near what fear-mongers were projecting. Hession has come in and taken hold of the reins.

Cash is down and they used almost all of the August secured loan available for drilling ($34.6 of $37.5 Million), but the entire $80 million non-recourse and $87.7 of the working capital loan is available.  They will not run out of cash before the monetization of E/A announcment by year end.

To that end, there is no timing commitment for the planned wells other than the well with PRE, now announced for the first quarter.  The sooner a selldown agreement occurs the sooner the drilling starts.  That said, until selldown we can't expect much activity on the ground as there isn't much cash available and the new financing doesn't kick in until the PSA occurs.

Art, what makes you think the new financing doesn't kick in until the "PSA" (SPA) occurs?  From the MD&A:

" Subsequent to quarter end, on November 11, 2013, we entered into a $250.0 million secured syndicated capital expenditure facility led by Credit Suisse AG related to the approved seismic data acquisition and drilling program.  The facility is secured by our EXISTING Upstream and Corporate entities. The facility bears interest at LIBOR plus 5.5% margin on the drawn amount for the first six months.  The facility is payable in full (within a certain timeframe) upon any sale or disposal of our interest in the Elk and Antelope fields." 

It seems to me they can start drawing on it as soon as they need to.  Again, probably more clarity tomorrow, but it seems to me that you are intent on putting the worst possible interpretation on most things.

'ArtM72' pid='31382' datel Wrote:

'admin' pid='31381' datel Wrote:A gain on Flex, actually a near double, wow! ["1 well in APRL39"]? APRL39?? Haven't seen that before, but that could be me.

Subsequently referred to as Triceratops.  The A stands for ...???... Almost?  I believe we can thank the Almighty it isn't "SPRL" because the S might stand for  "soon".

Art, I think we and Hession should be spared your bitter sarcasm for now.  I think the new CEO should be given the benefit of the doubt until such time as he might earn the reputation and sarcasm previously perhaps earned by Mulacek and others.  We get enough of that from Yazoo shorts without your continuing to chime in.