'Gator' pid='27355' datel Wrote:PR Newswire
12:16 PM Eastern Daylight Time Aug 16, 2013PORT MORESBY, Papua New Guinea and HOUSTON, Aug. 16, 2013 /PRNewswire/ -- InterOil Corporation (NYSE: IOC) (POMSoX: IOC) has responded to a trading alert from the New York Stock Exchange. In response to an inquiry regarding unusual trading activity in InterOil shares, the Company has informed the NYSE that it is InterOil's policy not to comment on market rumours or speculation. It is also the Company's policy not to comment on ongoing negotiations. Negotiations with ExxonMobil Papua New Guinea Ltd. regarding an agreement to monetize the Elk and Antelope fields are ongoing.
So the only relevant news today is that InterOil may have chosen not to extend exclusivity, a very positive indication that the company has other compelling bids and is leveraging them to accelerate and optimize negotiations with Exxon. When the dust settles, investors will perceive Blair Price's report today as a significant positive indicator and an immediate precursor to deal closure.