'johnwgrant' pid='25293' datel Wrote:that InterOil isn't in the energy business. Even better would be if they had oil and/or gas assets. Even better if those assets were far away from the Middle East - say near China & Japan. Even better if they had a Super Major as a partner to help them monetize their assets.
Oh well... A shame though that they aren't in the right spot at the right time !!
PS: sarcasm intended (is sarcasm the lowest form of humor, or, is it puns - I forget !)
A month as gone by and my sarcasm remains "in effect" - especially the part about energy assets far away from the Middle East !!! On July 3rd when I made this post, IOC closed at $67.65. Today (Aug 5th) it closed at $88.47. I would suggest that the $67.65 price was an outrageously 'stupid' low price and not reflective of 'price discovery' - but rather, 'price manipulation'. Sigh... So, roughly 1 month later, we are $21+ higher in price but InterOil's value has not changed over this time period (ie, their discoveries remain constant - no further drilling has taken place, no new announcement of deals has been made, no dramatic change in the price of LNG delivered to the Far East, etc. . .) So, please don't anyone try to convince me that the all-powerful "Efficient Market Theorum" is controlling the stock market. It would seem clear that the stock market universe includes many participants (more appropriately called "hedge fund snakes"
who will manipulate the price of a stock up or down to make money for themselves. Unfortunately, the cops on the beat (SEC) are ticketing jaywalkers and eating donuts. (PS: I will retract these comments if Stevie Cohen does prison time or is punished under the RICO statutes). And yes - I am not happy that IOC has allowed their stock price to be whipsawed. It is up to management to recognize when stock market games are being played and arrange their affairs to prevent "short and distort" campaigns. Enough rambling. Let's see the deal details !!! Go IOC !!!