Deal presentation

[2126]

According to The Street:

"If that deal completes, Oil Search will then sell 60% of Inter Oil's stake in Elk-Antelope, the main asset, and a further 62% of Inter Oil's exploration assets to Total. The French company will pay about $1.3 billion cash for the assets, equivalent to the implied value paid by Oil Search, and will top up the payment with an additional $372 million to buy InterOil's stake in the nearby Papua New Guinea LNG project, which is operated by ExxonMobil (XOM)." Source: https://www.thestreet.com/story/13579305/1/interoil-succumbs-to-oil-search-total-breakup-deal.html?puc=yahoo&cm_ven=YAHOO

[sageo]

So, with Board Approval already announced, how much will Hession have made by selling the company at a 50% discount from where it was when he was made CEO? And OSH agrees to sell off 60% of IOC to TOT at the same price? If the big banks are in on this as would be evidenced by their approving the sell out then we know for sure this all has been a collaborative scheme to steal the assets of this company. Great partners, OSH and Total. F*ck em and the Trojan horse that carried them in.

  Art - I share your thinking . I dislike (very much) being screwed by a sneaky CEO  and a hand-picked sneaky (sell-out) BODs . Now others will benifit from Phil's awesome dis- coveries .  The whole deal stinks to high-heaven . Will MH now head OSH ?

[ArtM72]

According to The Street:

" and will top up the payment with an additional $372 million to buy InterOil's stake in the nearby Papua New Guinea LNG project, which is operated by ExxonMobil (XOM)"

Gives me even more confidence in financial reporting.