Aug. 16 (Bloomberg) -- InterOil shares pare drop to 4% from
12%; PNG “has a lengthy track record posting IOC-related rumors
that end up being disproven by reality,” Raymond James analyst
Pavel Molchanov said in e-mail to Bloomberg First Word.
* NOTE: Earlier, Exxon, IOC exclusive talks end witout deal:
PNG
* Molchanov (outperform, PT $130) says even if XOM, IOC don’t
finalize transaction, presence of multiple bidders shows no
shortage of interest
* Says “we have no evidence for” status of talks changing
abruptly in past 48 hours other than the anonymous blog post
* NOTE: Aug. 13, IOC CEO says on earnings call that
negotiations remain exclusive; Aug. 1, XOM also confirmed
talks on earnings call earlier this month
* Shares move back above 200-DMA $70.65
* IOC up 28% YTD vs S&P 500 Energy Index (S5ENRS) up 12%

