10-07-2015, 11:50 PM
FWIW
InterOil (NYSE: IOC) is in watch after Bernstein analyst Neil Beveridge said the company could be the next M&A target ...
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Bernstein
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10-08-2015, 12:19 AM
Also proven since the beginning of time; IOC "could be" a buyout candidate per an analyst
10-08-2015, 12:19 AM
InterOil (NYSE: IOC) is in watch after Bernstein analyst Neil Beveridge said the company could be the next M&A target for LNG majors.
The analyst highlighted: Following Oil Search rejection of Woodside's bid, we think a bid for IOC could make sense, given this is where much of the growth optionality is in PNG. At US$1.2/boe on 2C resources (inc. future payments) InterOil is cheaper than organic exploration. InterOil's valuation hinges upon the scale of resource certification at Antelope which is scheduled for 2Q16. We remain positive on the outcome with reserves expected in the 6-9TCF range, based on positive drilling and well test results. With US$541M in total liquidity and Total certification payment expected in mid-2016, InterOil's balance sheet is strong enough to support exploration, appraisal and LNG FEED activities. The firm maintained an Outperform rating and price target of $65 on IOC. For an analyst ratings summary and ratings history on InterOil click here. For more ratings news on InterOil click here. Shares of InterOil closed at $37.38 yesterday.
(10-08-2015, 12:06 AM)jft310 Wrote: Anyone had the full article !!! see if this works
NOPE .... no luck this time ... sorry This is all I could get: http://www.firstenercastfinancial.com/ne...arket-talk Looks like just a general talk about being a take over target .... nothing specific.
10-08-2015, 12:23 AM
One problem with Neil's theory; Woodside is looking for short to mid-term producing assets, not long-term. This was last put out there by analysts on why IOC is NOT of interest to Woodside and others. These companies aren't looking to sink cash into something that has zero payback for that far down the road.
10-08-2015, 12:45 AM
Could it be this old article???????
Bernstein identifies IOC as takeover target ©2010 Bloomberg News May 28 (Bloomberg) -- Oil Search Ltd., Karoon Gas Australia Ltd. and InterOil Corp. are among potential acquisition targets as companies in China, the world's fastest-growing major economy, seek to snap up gas resources, Sanford C. Bernstein & Co. said. Spending on overseas acquisitions by oil and gas companies in China and India may more than double to $30 billion in 2010 from a year earlier, assuming oil prices stay between $70 a barrel and $80 a barrel, Neil Beveridge, a Hong Kong-based analyst at Bernstein, said in a report to clients today. China is likely to keep hunting for resources that can be developed as liquefied natural gas after PetroChina Co. and Royal Dutch Shell Plc agreed to acquire Australia's Arrow Energy Ltd. for A$3.5 billion ($3 billion), he said in an e-mail. "Conditions are ripe for more deals," he said. "Although energy security is a prime factor in overseas M&A, the cost of acquiring proven reserves overseas is in many cases cheaper than replacing reserves domestically through the drill bit." Oil Search, based in Port Moresby, is a partner in a $15 billion LNG project operated by Exxon Mobil Corp. in Papua New Guinea and is the nation's largest oil and gas producer. Papua New Guinea government officials also signed an agreement approving a plan by InterOil to build an LNG plant in the country, the energy company announced in December. Ann Diamant, a Sydney-based spokeswoman for Oil Search, and Anesti Dermedgoglou, a vice president of investor relations for InterOil in Cairns, Australia, did not immediately return calls. Karoon Gas Australia, based in Mt. Martha, Victoria, is ConocoPhillips' partner in a gas venture off the country's northwest coast that may have the potential to support an LNG plant. Karoon has not "had any offers and we don't expect to have any," Scott Hosking, company secretary, said by phone today. Karoon is concentrating on developing the gas resources, he said. Targets for China and India are likely to be companies with stock market values ranging between $2 billion and $10 billion in locations such as Africa, Latin America and Canada, said Beveridge, who identified 14 possible takeover targets.
10-08-2015, 12:50 AM
Interoil might be of interest to a Super Major who depletes its reserves every year with production. Logic says whatever price a first offer if it comes there will be more bids . That's the only way to explain all the Large Wall Street firms covering Interoil including Goldman's Conviction Buy List . It's unheard of a company Interoil's size to be on Goldman's List !!!These bankers want to get paid for deal making . They see dollar signs .
10-08-2015, 12:51 AM
'Justin94360' pid='63483' datel Wrote:InterOil (NYSE: IOC) is in watch after Bernstein analyst Neil Beveridge said the company could be the next M&A target for LNG majors. The analyst highlighted: Following Oil Search rejection of Woodside's bid, we think a bid for IOC could make sense, given this is where much of the growth optionality is in PNG. At US$1.2/boe on 2C resources (inc. future payments) InterOil is cheaper than organic exploration. InterOil's valuation hinges upon the scale of resource certification at Antelope which is scheduled for 2Q16. We remain positive on the outcome with reserves expected in the 6-9TCF range, based on positive drilling and well test results. With US$541M in total liquidity and Total certification payment expected in mid-2016, InterOil's balance sheet is strong enough to support exploration, appraisal and LNG FEED activities. The firm maintained an Outperform rating and price target of $65 on IOC. For an analyst ratings summary and ratings history on InterOil click here. For more ratings news on InterOil click here. Shares of InterOil closed at $37.38 yesterday. Juustin - If Neil is right on the US 541 M , (and we move the 300 M aside for a moment), that leaves us with US 241 M cash on hand. Do you know what day in November we have to "cough up " the 70 M ? If (IF) that would truly leave us with US 171 M , that would not be bad,since our leaders (SEEM) to be cutting outflow of cash. [ Comments please,if you have time ] . Thanks.
10-08-2015, 01:16 AM
'sageo' pid='63489' datel Wrote: mgt recently stated that ioc has enough cash to carry thru 2016 without touchinng the line of credit. fwiw |
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