Some really interesting tidbits emerging…
We can confirm that in the accompanying email to the latest Raymond James update on InterOil, the following was said:
- InterOil Corporation (IOC) SB1 – Our analyst met with management and provided some key takeaways. So far, the company has worked with approximately 50 firms, discussing the potential of a future strategic partnership. This number is much higher than we would have anticipated and speaks to the volume of interest in IOC’s PNG assets.
- Management provided some color on how they intend to structure future deals. The intent is to sell off stakes in 5% increments initially vs. a single transaction. In regards to the timing, management did not provide an exact timeline but did state that they hope to have the monetization completed by YE09. Our analyst believes the first sale will occur in the June-August timeframe. The company did say that they will not sign any deals until the completion of the Antelope-1 sidetrack. We reiterate our SB1 rating.
We’ve also made some updates to our most relevant post on InterOil..
2 thoughts on “InterOil update”
Need to buy a couple more shares.
Comments are closed.