ORCHID CAPITAL ANNOUNCES THE SALE OF COMMON SHARES OF INTEROIL CORPORATION

[Gator]

ORCHID CAPITAL INVESTMENTS SAYS SOLD, ON JULY 13, 2015, 3 MLN COMMON SHARES

[Gator]

Shares sold at an average price of $45

[Gator]

SINGAPORE, July 15, 2015 /CNW/ - Orchid Capital Investments Pte. Ltd. ("Orchid"), an indirect subsidiary of Chandler Corporation, announced today that it sold, on July 13, 2015, 3,000,000 common shares (the "Shares") in the capital of InterOil Corporation (the "Issuer"), representing approximately 6.06% of the issued and outstanding common shares of the Issuer. As a result of this disposition, Orchid's shareholding in the Issuer is now an aggregate of 4,895,535 common shares of the capital of the Issuer (the "Orchid IOC Shares"), representing approximately 9.88% of the issued and outstanding common shares of the Issuer. The Shares were sold through the facilities of the New York Stock Exchange at an average price of US$45.00 per common share. Pursuant to applicable Canadian securities laws, each of Chandler Holdings Limited ("CHL"), CHL's sole shareholder, Chandler Corporation ("CC"), CC's sole shareholder, Athena Holdings Limited (in its capacity as trustee of The Clermont Trust, a discretionary trust f/k/a The Chandler Group Trust) and CHL's direct wholly-owned subsidiary, Chandler Capital Pte. Limited ("CCPL") (which owns all of the shares of Orchid), is deemed to beneficially own the Orchid IOC Shares. CHL exercises control and direction over the Orchid IOC Shares. The Shares were sold in the ordinary course of business. Orchid, CCPL, CHL, CC and Athena Holdings Limited (in its capacity as trustee of The Clermont Trust, a discretionary trust /k/a The Chandler Group Trust) may, from time to time and at any time, subject to applicable securities laws, acquire additional common shares of the Issuer and/or other equity, debt or other securities or instruments (collectively, "Securities") of the Issuer in the open market or otherwise may dispose of any or all of its Securities in the open market or otherwise, at any time and from time to time, and to engage in any hedging or similar transactions with respect to the Securities, in each case subject to applicable securities laws. Further Information A copy of the report prepared in connection with the matters disclosed herein in accordance with applicable Canadian securities laws will be available at www.sedar.com. SOURCE Orchid Capital Investments Pte. Ltd.

[Palm]

And per IR approx. 2.1 of those were bought immediately leaving 900k shares for MS to feather into the market over last couple of days. Would be interesting to know who bought the 2.1 million shares.

[Gator]

I’m not sure IR would know what was bought. Hell they didn’t even know about Chandler and the block trade until it was reported, how could they possibly know someone bought 2.1 million shares. Goldman’s desk was more active in IOC yesterday than was Morgan’s.

[Putncalls]

He sells then he buys then he sells....?

[Palm]

Just saying what they're saying. Knew that MS was shopping 3 million shares and that they got scooped up pretty quickly and suspect that 2.1 million went to institutions and the other 900k went to broker (NS), which is what was being traded yesterday. They suspected the 3 million were Chandler's who needed $$$ to cover other positions and believe he is done for now.

[AU74]

Is it just me or does it seem that the share price held up pretty well to this onslaught of institutional selling?

[Putncalls]

AU74,
PPS lost 25% in 7 trading day. Ouch.

[AU74]

After just having spiked to 60+ in a short period. Seems some people were counting their chickens very quickly.