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InterOil Corporation Message Board

tooocents 23 posts  |  Last Activity: Sep 2, 2015 1:04 PM Member since: Mar 6, 2009
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  • Port Moresby, 1 September 2015: InterOil Corporation has appointed Thomas Nador as
    Executive Vice President, Papua New Guinea Business Operations.
    Mr Nador, who will be based in Port Moresby, has accountability for InterOil’s daily operations in
    the country, including health, safety and environment, human resources, administration, supply
    chain, information management, and community and government affairs.
    His appointment follows the election of Isikeli Taureka, InterOil’s Executive Vice President, PNG, to
    the company’s board of directors.
    Mr Taureka becomes Executive Director, PNG, with responsibility for providing strategic advice to
    the board, managing senior relationships with political, business and community stakeholders, and
    for assisting the Chief Executive with key investor relationships.
    Mr Nador, who has been InterOil’s Senior Vice President, Corporate, has a long background in
    project services and development management with major LNG and mining projects in Western
    He has a science degree from the University of Western Australia, a post-graduate diploma in
    science from Curtin University, and a diploma of business.
    The appointments are effective from 1 September 2015.

  • PRESSURE from Australian and Papua New Guinean LNG exports to Asia coupled with low oil and gas prices have impacted Qatar’s trade surplus, which registered a June figure of 14.3 billion riyals ($A5.6 billion)

  • LANDOWNERS of the Hides 4 PNG LNG project have disrupted access to the Hides 4 project site in the Hela province yesterday as they staged a peaceful protest.

  • Singapore and Port Moresby, August 31, 2015: InterOil Corporation (NYSE:IOC)
    (POMSoX:IOC) advises that the PRL-15 Joint Venture has started drilling a side-track well at the
    Antelope-4 site, as part of its appraisal campaign on the Elk–Antelope gas field in Papua New
    The Antelope-4 appraisal had been suspended in May 2015 at a true vertical depth sub-sea of
    2,056m (6,745 feet), approximately 158m above the field gas water contact.
    Well operations, which resumed on August 13, 2015, included the on-site preparation and testing
    of well-head equipment. Subsequently the Operator, Total E&P PNG Limited obtained approval
    from the PNG Department of Energy to re-enter the well.
    The side-track was initiated at a measured depth of 862 meters (2,828 feet)#
    . As at 1530 hours
    (PNG time) the side-track well was drilling ahead at a depth of 895 meters (2,936 feet)#

  • PRIME Minister Peter O’Neill has highlighted great opportunities to come from closer cooperation with India as a market for LNG, and for development of downstream processing in petrochemicals.
    He made the comments following a high meeting with executives from Indian Government-owned Oil and Gas Company Group Ltd, Petronet LNG Ltd and GAIL (India) Ltd in New Delhi.
    “India is an enormous market with a constantly rising demand for energy,” O’Neill said.
    “Papua New Guinea is geographically close to India. Our LNG is of a high quality and the market is ready to take our LNG.
    “LNG currently accounts for around 9 per cent of the energy market in Papua New Guinea whereas the comparable economies are using around 24 per cent LNG.
    “India has an expressed desire to use more LNG for both the economic and environmental benefits as a cleaner burning fuel.
    “With the Papua LNG project moving forward there is a market that is waiting to import our gas.
    “An earlier MOU that was signed between Petromin PNG Holdings Ltd with the ONGC Group and Petronet LNG Ltd that provides an avenue to advance these negotiations.”
    He said India had experience in production of petrochemicals that offered opportunity for cooperation. “India has a great deal of technical knowledge and expertise in downstream processing of
    “In particular, India’s experience in the production of fertiliser will be of significant value to Papua New Guinea and is a further market for our petrochemical
    “Cooperation between energy and resources companies from India and Papua New Guinea will continue in the months ahead.
    “We look forward to the discussion we have advanced today leading to concrete agreement and the expansion of jobs and economic output in both countries.”

  • AMENDMENTS to current Oil and Gas Act are underway to cater in the interests of the country, Petroleum and Energy Minister Nixon Duban (pictured) says.
    He said many new petroleum projects were being developed in the recent years and that called for amendments to be made to the Act.
    “We’ve taken an audit on the oil and gas Act – the project agreement of the gas,” Duban said.
    “We will be pushing some amendments on the Oil and Gas Act which will try and cater for the interest of this country. I see that the oil and gas act at this point in time is not able to accommodate the whole changes, we must benefit from our resources.”
    Duban was speaking during the swearing in of new board members of Konebada Petroleum Park Authority in Port Moresby yesterday.
    Duban said the petrochemical park would be built as a result of the gas projects that were being developed in PNG, and amendments needed to be made to the Act so that it catered for the recent petroleum project developments.
    He added that the park, to be built outside Port Moresby, could host many petrochemical investments which PNG would benefit from.
    “When this park is developed, the money that it will bring to the economy would be massive. It is located at an ideal spot where we can host a number of major downstream processing activities. We want to see downstream processing. When this park is developed, the money that it will bring to the economy would be massive,” Duban said.

  • said it could return to Papua New Guinea to capitalise on potential growth opportunities as part of its new “four-pillar” strategy which includes value accretive acquisitions.

    I wonder why!!!

  • tooocents by tooocents Aug 5, 2015 7:24 AM Flag

    THE National Petroleum Company Papua New Guinea (NPCP) has signed an agreement with a Japanese company to develop liquefied natural gas (LNG) marketing in the country.
    The memorandum of understanding (MoU) signed yesterday between NPCP and LNG Japan Corporation will allow development of marketing, sale and transportation strategies of LNG through a possible joint marketing venture between the two companies.
    NPCP managing director Wapu Sonk said the arrangement was a significant milestone for the company as it (NPCP) looks to venture into marketing and shipping opportunities.
    “This MoU arrangement once off the ground will enable NPCP and LNG Japan to collaborate and look for opportunities to market LNG and other petroleum products as and when the opportunities arise,” Sonk said.
    LNG Japan chief operating officer Toshiki Miyazawa said with their expertise in the industry, LNG Japan would contribute to progress of the industry in the country.
    “Historically Japan relies heavily on Asia Pacific countries on the supply of LNG and PNG is an important country in terms of energy supply to Japan.
    “We can assure that our experiences can contribute to this country too.
    “We were always working for a national company under the Government in maximising profit for the people or the Government of host countries. Of course it is important to have a national company as operator to develop the project, but at the same time involvement of the Government plays a very significant role for the LNG development.
    “Today’s (yesterday) signing is a big step and based on this memorial event we would like to make efforts in working in other projects in the future and we’d like to work together with PNG with your team’s guidance and help.”

  • Reply to

    Bash Bish Falls!

    by tedfiorito Aug 1, 2015 12:33 AM
    tooocents tooocents Aug 1, 2015 11:04 AM Flag

    Ted, I've been there also and it's beautiful and peaceful so I doubt AVI would be there, he's more likely to float up at Bowery Bay Wastewater Treatment Plant in Flushing Bay.

  • tooocents by tooocents Jul 22, 2015 8:18 PM Flag



    The percentages used herein are calculated based upon the Shares of common shares issued and outstanding as of July 8, 2015, as reported on the Issuer's Amendment No. 1 to Registration Statement on Form F-10/A filed with the Securities and Exchange Commission by the Issuer on July 8, 2015.

    As of the close of business on July 21, 2015:

    1. Point72 Asset Management, L.P.

    (a) Amount beneficially owned: 3,062,610 (a)

    (b) Percent of class: 6.2% (a)

    (c)(i) Sole power to vote or direct the vote: -0-

    (ii) Shared power to vote or direct the vote: 3,062,610 (a)

    (iii) Sole power to dispose or direct the disposition: -0-

    (iv) Shared power to dispose or direct the disposition: 3,062,610 (a)

    2. Point72 Capital Advisors, Inc.

    (a) Amount beneficially owned: 3,062,610 (a)

    (b) Percent of class: 6.2% (a)

    (c)(i) Sole power to vote or direct the vote: -0-

    (ii) Shared power to vote or direct the vote: 3,062,610 (a)

    (iii) Sole power to dispose or direct the disposition: -0-

    (iv) Shared power to dispose or direct the disposition: 3,062,610 (a)

    3. Cubist Systematic Strategies, LLC

    (a) Amount beneficially owned: 42,028

    (b) Percent of class: less than 0.1%

    (c)(i) Sole power to vote or direct the vote: -0-

    (ii) Shared power to vote or direct the vote: 42,028

    (iii) Sole power to dispose or direct the disposition: -0-

    (iv) Shared power to dispose or direct the disposition: 42,028

    4. Steven A. Cohen

    (a) Amount beneficially owned: 3,104,638 (a)

    (b) Percent of class: 6.3% (a)

    (c)(i) Sole power to vote or direct the vote: -0-

    (ii) Shared power to vote or direct the vote: 3,104,638 (a)

    (iii) Sole power to dispose or direct the disposition: -0-

    (iv) Shared power to dispose or direct the disposition: 3,104,638 (a)

    (a) Includes 532,200 Shares subject to call options held by an investment fund managed by Point72 Asset Management.

  • Tuesday July 21st, 2015
    ENGINEERS from InterOil and the Petroleum and Energy Department (DPE) will be leaving for Brisbane today to attend a short course on stuck pipe prevention.
    Organised by InterOil and its rig contractor, High Arctic Energy Services, the training is expected to enhance the technical capabilities of national engineers in both the public and private sectors.
    David Seteri and Boas Kota of InterOil along with Joseph Kia and Warea Undi of DPE will be attending a High Arctic Stuck Pipe and Well Control course administered by Harness Energy.
    This is a theory and practical training programme that is aimed at reducing the occurrences of Stuck Pipe during drilling operations, delivered by experienced industry experts.
    Knowing the risk indicators, mechanisms and prevention strategies to prevent these events can result in huge savings in the costs of drilling petroleum exploration wells.
    DPE assistant director engineering Peter Kogl said there was insufficient funding for training to DPE staff and thanked InterOil for the continuous training opportunities offered to DPE staff.
    InterOil organised similar courses in oil and gas exploration and production workshops in Singapore in April that was attended by 14 staff from InterOil and DPE.
    InterOil is happy to continue its close association with technical professionals working with the Department of Petroleum and Energy and supporting the training of national petroleum engineers.

  • The National, Thursday July 9th, 2015

    A NATIONAL petrochemicals industry has great potential for our nation, Prime Minister Peter O’Neill says.
    He said Papua New Guinea would improve its own energy security by using more of the gas for power generation.
    O’Neill’s comments followed the decision by Total SA and partners on locations for plant site and central processing facility for Elk/Antelope Gulf gas field to be known as Papua LNG.
    He said Papua New Guineans should benefit the most from the gas resources.
    “We have to ensure that the people of Papua New Guinea have the opportunity to utilise our gas for domestic economic activity,” O’Neill said.
    He said there would be a number of announcements made by the joint venture partners in the coming months as they continue to complete surveys and analysis on specific construction items.
    “The next two years will see work underway that will include social mapping and land identification studies, societal impact assessments, and the finalisation of construction requirements,” O’Neill said. “The Government stands ready to move ahead with preparatory work, including ensuring regulatory requirements are met and processed, and environment studies are undertaken.
    “There will be further clarification of arrangements between the project and the Government and the marketing of Papua LNG will be underway. “The gas from the Elk-Antelope field is high quality and despite current global energy prices, by the time Papua LNG reaches the market it is anticipated energy prices will have improved.
    “Our proximity to the constantly growing Asian market places Papua LNG in a very strong competitive position,” O’Neill said.

  • tooocents tooocents Jul 3, 2015 9:58 AM Flag

    “The central processing facility in the Gulf Province will be near the gas field with river access. The LNG facility near Port Moresby has potential for synergies with existing infrastructure and sufficient land for significant LNG train expansion.”

    “The location of the LNG site at Caution Bay will also maximise the opportunity to pursue potential synergies with the PNG LNG project.”

  • Who thinks these top guys are there just for the PNG Government?

    A DELEGATION comprising ExxonMobil directors, and led by chairman and CEO Rex Tillerson, flew to Papua New Guinea to inspect the energy firm’s operations there and was welcomed by Prime Minister Peter O’Neill in Port Moresby on Wednesday.

  • Fuel rebound in Asia Pacific

    DEMAND from Asia’s top four oil consumers could spark a market comeback for oil and gas, as China, Japan, India and South Korea doubled their use of naphtha, gasoil, gasoline, jet fuel-kerosene and fuel oil in the first four months of this year to more than 821,000 barrels per day.

  • PNG Industry News, Wednesday, 17 June 2015

    PAPUA New Guinea-focused InterOil has awarded Perth-based IT concern Empired a $15 million application and infrastructure managed services contract over up to five years.

  • tooocents by tooocents Jun 14, 2015 10:44 AM Flag

    June 10, 2015
    U.S. $1,000,000,000

    Common Shares
    Preferred Shares
    Debt Securities

    We may offer, from time to time under this short form base shelf prospectus (this “prospectus”), during the 25-month period that this prospectus, including any amendments hereto, remains effective, the securities listed above in one or more series or issuances, with the total initial offering price, in the aggregate, not to exceed U.S. $1,000,000,000 (or the equivalent in other currencies or currency units). Our securities may be offered separately or together, in amounts, at prices and on terms as we may determine based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement (a “prospectus supplement”).

  • PRIME Minister Peter O’Neill will lead a delegation of government and business representatives to Europe next week to promote Papua New Guinean trade and investment opportunities to potential investors.


    The trade mission will also head to Paris and meet with European Commission president Jean-Claude Juncker and French Foreign Affairs and Immigration Minister Laurent Fabius before speaking with the senior management of Total – operator of the Elk Antelope project, and Puma Energy, at a business breakfast.

  • Reply to

    Opening Bell, June 12 NYSE

    by tooocents Jun 13, 2015 10:30 AM
    tooocents tooocents Jun 13, 2015 11:33 AM Flag

    OH Canada,

    Better late than never :)

    Didn't have time yesterday to post it...

  • Interoil

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