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InterOil Corporation Message Board

  • pickboone pickboone Feb 25, 2013 8:27 AM Flag

    Early Earnings Call

    In an encouraging sign, InterOil announced today that it will report earnings this week - that's almost 1 month earlier than they typically report. The company clearly is working to stay as transparent as possible, and I think this strategy will continue to pay dividends. The stock's current discount to its $250+ NAV will continue to wind down as some of these near-term catalysts materialize and the company continues to provide transparency on its future plans to develop E/A and Triceratops. For shorts who were hoping for a window to cover before the deal announcement, it looks like your last hope may have faded away with today's announcement.

    Sentiment: Strong Buy

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    • Get the earnings out of the way ASAP and update the resource report. That clears the runway for partnering and sell down news in the week or two after that. The shorts now see the end of the road here, the question is how will they cover over 11 million shares?

      Sentiment: Strong Buy

      • 2 Replies to tarulestheday
      • You "got it right", tar!

        Sentiment: Strong Buy

      • Usually the shorts take er down nicely after the earnings and CC, I have a feeling they will really try to wack it this week after and try to cover some. Under any circumstances I dont see the short interest going below 7-8 million anytime soon, SD deal or not. Im not a short squeeze believer, they will strategically manage their exit. They are loaded with calls, so they dont need to cover in huge size all at once. Thats just the facts. Of course some will cover which might drive PPS to 90-95. But I dont see much higher . Thats on a good deal, a weak deal with a weak partner and PPS will go down IMO

    • pick,

      Although I hope I"m wrong, I suspect that the earnings announcement and CC won't be very revealing on the subject of the development plans, other than to perhaps reveal some more timing factors in getting to the end of the process.

      In fact, I suspect the early CC is to get it done before the executive management tea, is put on the spot by questions they don't want to answer at the present time. Given that the bid due date has not passed by the time of the CC, they can offer a standard answer that the deadline has not passed and bids will be evaluated in due time.

      What is likely to be presented, however, is the official December 31 resource report -- and that could be of some benefit to the stock price.


      Sentiment: Buy

      • 2 Replies to valuesleuth
      • I don't think there is anything mysterious or conspiratorial (see bonk's ridiculous speculation) about this. They obviously have the year end work done, and I think they probably want to get the year end filing and cc done and out of the way, so management can focus entirely on the bids evaluation with the investment bankers and the partner selection, especially the CFO, who will be integrally involved. That doesn't mean they couldn't say something about the bids and the plans moving forward. I suspect the bids deadline is for delivery to the investment bankers, who are all over the world.

        Good point, VS, about the possibility of news on the GLJ resource update, if it's ready, including the first preliminary estimate for Triceratops.

        Obviously, not having another normal quarterly cc until May does not mean they won't release news and/or have a special cc whenever required or appropriate.

        Sentiment: Strong Buy

      • I don't often agree with you VS but I think you're spot on with your above comments. It will not be midnight in PNG and thus the bidding will not be formally closed. They will likely update resource and provide some additional color on timing but I think March15th is a more likely target for sell down news.

    • Good news almost every day; I can hardly stand it. Pick, what do you think they can disclose about the bidding process if anything at all?

      Sentiment: Strong Buy

    • More games from Phil. How many insider shares have been sold and bled back into the float since 2007?

      Sentiment: Strong Sell

49.05+0.05(+0.10%)Aug 24 4:02 PMEDT