'Resourcearb' pid='27898' dateline='<a href="tel:1377257 Wrote:
1) Exxon is keen on closing a deal with InterOil as soon as possible… “Sources said ExxonMobil is keen to close the deal as soon as possible, given the end of the exclusivity period and InterOil being receptive to other offers”
2) Shell (and possibly another party) has submitted a new bid for InterOil’s resources… “well-placed sources said Shell has submitted a new offer, and possibly another party also”
3) The author’s sources believe that Shell is contemplating bidding for all of InterOil if Exxon and InterOil consummate a deal… “Sources said this intriguing saga could take another turn if ExxonMobil closes a deal with InterOil in which case Shell could contemplate a takeover of the Canadian producer”
4) InterOil's stock trades near $0.60 per mcf for the most valuable unencumbered natural gas resource in the world that multiple supermajors are finally vying for. The economic NAV of the gas is well in excess of 5X this value, or more than $300 per share for Elk/Antelope, and this embeds no value for Triceratops, InterOil’s unique acreage position including the soon to be drilled Wahoo structure, or the company's downstream assets.
5) The stock is down over 23 points from its recent high despite the exclusivity lapse having made Exxon more “keen to close the deal” and despite a new confirmed bid for the resources from Shell.
Appears to be a buy rating?