As of today RJ has published an updated "E & P Catalyst Outlook" that includes two anticipated events or announcements for IOC:
1. Resource selldown to Exxon: InterOil is in negotiations with Exxon regarding the sale of a stake in PRL 15 (which includes the Elk/Antelope resource base); Exxon will utilize the gas to supply an additional train for its under-construction LNG project; InterOil retains the right to build a competing LNG project with the remaining resource; the selldown's fiscal terms have yet to be announced. Exclusivity expired, opening the door for other players to negotiate. ANTICIPATED DATE: 3Q13. MAGNITUDE/IMPACT: HIGH.
2. Longer-term resource development strategy: Once the resource selldown being negotiated is finalized, InterOil will be able to disclose the strategy for developing its remaining resource base, which may include a separate LNG project and/or condensate stripping plant. ANTICIPATED DATE: TBA. MAGNITUDE/IMPACT: HIGH.