Some of you may have noticed in the last few days that those who normally would be touting foreknowledge of the timing of events have more or less stopped doing so.

For example, several were recently burned badly by their reporting of what they had been told by IOC official(s) about the imminent signing/announcement of the refinery loan.  Unfortunately, those IOC official(s) were then presumably stiffed by the guvernor of BPNG who failed to deliver on his timing commitment to IOC.

These posters have now gotten the point that IOC is not in charge of the timing of events in PNG.

Good for them.

This has gone so far that the latest refinery loan signing timing pronouncement coming out of IOC is not even being reported on the boards, as far a I can tell -- a highly promising development.

We will get official news when we get official news.  Period.

FWIW, the announcement of the completion of the refinery loan will be a "non-event" -- just another box checked off, but already widely anticipated, so of no market effect whatsoever.

VS

Most think securing $100 million is meaningful. Ask IOC if you think it will not matter.Certainly not in the stock price. Not sure look at the chart. Psst its not up the IOC PPS. The posters who listened to WA only stated anyday. Thats what he said and what I said. There are reasons the stock is down a bit. I leave it to you to find out the why.

VS,

..."those who normally would be touting foreknowledge"...

..."These posters have now gotten the point"...

..."Good for them."...

Would you please drop all the strawman arguements?   Either name names or do not bother with these types of posts which at best only start board bickering.

Thanks.

'ValueSleuth' pid='11070' datel Wrote:

Some of you may have noticed in the last few days that those who normally would be touting foreknowledge of the timing of events have more or less stopped doing so.

For example, several were recently burned badly by their reporting of what they had been told by IOC official(s) about the imminent signing/announcement of the refinery loan.  Unfortunately, those IOC official(s) were then presumably stiffed by the guvernor of BPNG who failed to deliver on his timing commitment to IOC.

These posters have now gotten the point that IOC is not in charge of the timing of events in PNG.

Good for them.

This has gone so far that the latest refinery loan signing timing pronouncement coming out of IOC is not even being reported on the boards, as far a I can tell -- a highly promising development.

We will get official news when we get official news.  Period.

FWIW, the announcement of the completion of the refinery loan will be a "non-event" -- just another box checked off, but already widely anticipated, so of no market effect whatsoever.

VS

You will have to come back on this VS , LOL

'Bincbanker' pid='11088' datel Wrote:

'ValueSleuth' pid='11070' datel Wrote:

Some of you may have noticed in the last few days that those who normally would be touting foreknowledge of the timing of events have more or less stopped doing so.

For example, several were recently burned badly by their reporting of what they had been told by IOC official(s) about the imminent signing/announcement of the refinery loan.  Unfortunately, those IOC official(s) were then presumably stiffed by the guvernor of BPNG who failed to deliver on his timing commitment to IOC.

These posters have now gotten the point that IOC is not in charge of the timing of events in PNG.

Good for them.

This has gone so far that the latest refinery loan signing timing pronouncement coming out of IOC is not even being reported on the boards, as far a I can tell -- a highly promising development.

We will get official news when we get official news.  Period.

FWIW, the announcement of the completion of the refinery loan will be a "non-event" -- just another box checked off, but already widely anticipated, so of no market effect whatsoever.

VS

You will have to come back on this VS , LOL

Probably.  I may even have to retract my praise of restraint.

I'm glad to see that both you and jft have weighed in.  That's likely a big help to Tree.  LOL

Keep up the good work and take care.

VS

'ValueSleuth' pid='11070' datel Wrote:

Some of you may have noticed in the last few days that those who normally would be touting foreknowledge of the timing of events have more or less stopped doing so.

For example, several were recently burned badly by their reporting of what they had been told by IOC official(s) about the imminent signing/announcement of the refinery loan.  Unfortunately, those IOC official(s) were then presumably stiffed by the guvernor of BPNG who failed to deliver on his timing commitment to IOC.

These posters have now gotten the point that IOC is not in charge of the timing of events in PNG.

Good for them.

This has gone so far that the latest refinery loan signing timing pronouncement coming out of IOC is not even being reported on the boards, as far a I can tell -- a highly promising development.

We will get official news when we get official news.  Period.

FWIW, the announcement of the completion of the refinery loan will be a "non-event" -- just another box checked off, but already widely anticipated, so of no market effect whatsoever.

VS

And lookie what happened just 2 trading days later.  The paucity of paying attention.

October 16, 2012

Port Moresby and Houston, TX — InterOil Corporation (NYSE: IOC) (POMSoX: IOC) (“InterOil” or the “Company&rdquo announced that IOC and its subsidiaries, EP InterOil and InterOil Limited, have entered into a five year amortizing $100 million secured term loan facility with BNP Paribas Singapore (BNP), Bank South Pacific Limited (BSP), and Australia and New Zealand Banking Group (PNG) Limited (ANZ).

Borrowings under the facility will be used for repayment of all outstanding amounts under the term loan granted by Overseas Private Investment Corporation (OPIC) dated June 12, 2001 (currently net after Debt Service Reserve Account at $25.4 million), and general corporate purposes. The loan is secured by InterOil’s right, title and interest in the fixed assets of the Napa Napa Refinery in Papua New Guinea.

The secured loan facility bears interest at LIBOR plus 6.5%. Approval has been received from Bank of Papua New Guinea, and funding is subject to release by OPIC of all securities under the existing loan agreement, and other standard closing conditions.

Collin Visaggio, InterOil Corporation Chief Financial Officer, commented,
“InterOil is pleased to have the support and confidence of three of the largest banks operating in the South Pacific. We are delighted to have extended our banking relationship with BNP which has led our existing $240 million working capital facility since 2005, and strengthened our existing relationship with BSP, Papua New Guinea’s largest bank, and ANZ, one of the region’s largest lenders. This financing should allow us to maintain our accelerated pace of upstream activity while we complete our negotiations with the PNG State and conclude our LNG partnering process. At this stage we are pleased by the constructive dialogue with the State and the increased interest in investment in Papua New Guinea following the successful election and formation of the strongest coalition government in the country’s history.”

Ian Clyne, BSP Group Chief Executive Officer, commented,
“We are proud as a Papua New Guinea bank to be involved as co-lead arranger of this international syndication, and being able to strengthen our partnership with InterOil, one of PNGs leading organisations. InterOil and BSP, are committed to this emerging nation and its local communities.”

Mark Baker, ANZ Chief Executive Officer PNG, commented,
“InterOil has been a long and valued relationship of ANZ and we are pleased to extend our industry know how and balance sheet support as Mandated Lead Arranger in this transaction. As an international bank with a 100-year presence in PNG and an extensive network across Asia Pacific, we are focused on providing international financial expertise and regional specialists to support the development of key industries in PNG for the benefit of our clients and the wider community.”

Pierre Joseph Costa, BNP Paribas’ Regional Head for Structured Finance APAC and Japan, commented,
“We are proud to be part of the changing landscape in PNG, and this loan marks a further commitment of the Bank’s relationship with InterOil, whom we have been partnering with since 2005.”