6 thoughts on “InterOil from the boards March 18”

  1. I must admit that my focus on IOC has wavered somewhat the past 2 months. Waiting for these deals is a somewhat akin to watching paint dry.

    Assuming that everything comes together brilliantly as I expect, I find myself wondering about the last half of this year and beyond. For that reason I think I will attend the AGM this year and meet the people that are managing my money and see I can extract a glimpse into IOC’s future.

  2. I understand the institutions buying on dips, but I am suprised at how quick the pps bounced back. I view the drilling problem as a delay in understanding the condensates (not all about oil) and therfore a delay in the deal with Mitsui. The longer the delays, the need to start thinking about short term cash on hand and potential incentive for Mitsui to drag out the deal


  3. From my understanding the Mitsui deal has nothing to do with the horizontal drilling on a potentional oil leg. GLJ has already evaluated the condestate ratio, and there is enough natural gas proven to supply a 2 train stripping facility. I still believe the deal will happen any day. I also believe that the redrilling the 90 degree angle would be not such bad problem but more of hopes that the extra cash spent to rework the angle means a greater result we can expect. Keep believing and be patient, yes it could happen faster but we have to trust whats in the ground..

  4. They have clearly stated to me that this horizontal has no bearing on Mitsui.Margins at refiners are robust. All around the world. See IOC’s 4th quarter results to see.That cash flow from the refinery is sufficient to support the current drilling program.No cash problem…This horizontal is to find OIL.Make no mistake there.The type of rig bought with 16000 foot total reach is to drill down 7-8000 feet then drill horizontal 4000 feet to find oil. All this NG came from oil. The oil is there.The market over reacts to the word oil. IOC will not call the hunt oil. If they find commercial oil it will be announced as such if not then it will be called condensate understanding. See the name of the company INTEROIL its NOT named named INTERGAS.Phil wants oil and is obsessed about it.He will find it.The new rig will be placed in Elk/Antelope to find it.Will it work the horizontal here at Antelope 2. I don’t know.Mitsui wants an equity interest in IOC,or a buy in.Those details are delaying the Mitsui deal announcement.When soon.Morgan now to Mid April last friday,yesterday.The company gives no time direction.Overwhelming interest in IOC parts.IOC wants to sell what it has the buyers want a future interest in finds.That needs to be worked out.It will be resolved.Two investment bankers there to help Phil.Deals for LNG during the second quarter .

  5. Thanks Ken. I guess this means I need to roll out of April calls and into May or June. Story great and fully intact but I do not like the habitual delays – not for my own impatience but that it provides more fuel and fodder for the shorts. IOC needs to get a deal done to permanently put the shorts in the trash.

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