0251 GMT [Dow Jones] There's a lot of upside potential in InterOil's (IOC) shares, with unrecognized value in the company's Papua New Guinea assets highlighted by recent M&A activity in the energy industry, notes Goldman Sachs. It adds InterOil to its 'Conviction List,' with a 12-month target price of US$45 per share. The brokerage anticipates further drilling data, resource certification and a major payment from venture partner Total (TOT) in the next 6 to 12 months. The value in Papua New Guinea has been exposed by Woodside's (WPL.AU) takeover offer for Oil Search (OSH.AU), it adds. (robb.stewart@wsj.com; Twitter: @RobbMStewart)

 

Editor: JFN 

 

 

(END) Dow Jones Newswires