Key Developments: InterOil Corp (IOC)
76.50USD
19 Jun 2013
$1.28 (+1.70%)
$75.22
$74.75
$76.62
$74.75
95,604
714,498
$106.44
$50.90
Latest Key Developments (Source: Significant Developments)
Beijing Aerospace Changfeng Co Ltd to Establish Joint Venture with Subsidiary of InterOil Corp
Beijing Aerospace Changfeng Co Ltd (Changfeng) announced that it will invest USD 900 million to set up a joint venture in Brazil with a Brazil-based subsidiary (Subsidiary A) of InterOil Corp. The joint venture will be with a registered capital of USD 10,000 and be a project company for bidding of security business of 2014 World Cup. Changfeng and Subsidiary A will respectively hold a 90% and a 10% stake in the joint venture. Full Article
InterOil Corp Announces Retirement of CEO
InterOil Corp announced the retirement of its founder and Chief Executive Officer, Phil Mulacek, effective April 30, 2013. Mr. Mulacek will continue as an InterOil director and will provide advisory services to the Company. A global search is now underway for a new CEO to lead the Company through its next stage of development. InterOil Chairman, Dr. Gaylen Byker, will assume Mr. Mulacek's duties on an interim basis from May 1, 2013 until the search process is complete. Full Article
InterOil Corp Executes Joint Venture Operating Agreement With Pacific Rubiales Energy Corp For Triceratops And PPL 237
InterOil Corp announced that negotiations have been completed and the parties have executed the Joint Venture Operating Agreement (JVOA) and related documents associated with Farm-In Agreement with Pacific Rubiales Energy Corp., pursuant to which PRE will acquire a 10.0% net (12.9% gross) participating interest in Petroleum Prospecting License 237 (PPL 237) onshore Papua New Guinea, including the Triceratops structure and exploration acreage located within that license. This announcement is made further to the Company's announcement on July 30, 2012 that it had executed a Farm-In Agreement with PRE. Full Article
InterOil Corp Enters Into $100 Million Secured Loan Facility
InterOil Corp (IOC) announced that IOC and its subsidiaries, EP InterOil and InterOil Limited, have entered into a five year amortizing $100 million secured term loan facility with BNP Paribas Singapore (BNP), Bank South Pacific Limited (BSP), and Australia and New Zealand Banking Group (PNG) Limited (ANZ). Borrowings under the facility will be used for repayment of all outstanding amounts under the term loan granted by Overseas Private Investment Corporation (OPIC) dated June 12, 2001 (currently net after Debt Service Reserve Account at $25.4 million), and general corporate purposes. The loan is secured by InterOil's right, title and interest in the fixed assets of the Napa Napa Refinery in Papua New Guinea. The secured loan facility bears interest at LIBOR plus 6.5%. Approval has been received from Bank of Papua New Guinea, and funding is subject to release by OPIC of all securities under the existing loan agreement, and other standard closing conditions. Full Article
Royal Dutch Shell PLC Is In Talks To Buy Into InterOil Corp's PNG Assets-Reuters
Reuters reported that Royal Dutch Shell PLC said it is in talks to buy into liquefied natural gas producer InterOil Corp's Papua New Guinea exploration licenses and LNG terminal. 'In Papua New Guinea we have been in discussion with various parties in the country' Shell CFO Simon Henry said in a transcript provided by the Company. InterOil declined comment on the discussions. Full Article
InterOil Corp Appoints Dr. Gaylen Byker As Chairman
InterOil Corp announced that the Board of Director has decided to separate the roles of Chairman and Chief Executive Officer. Dr. Gaylen Byker was appointed Chairman of the Board. Phil Mulacek will continue as Chief Executive Officer. Full Article
InterOil Corp Extends LNG Project Agreements With Mitsui & Co., Ltd.
InterOil Corp announced additional amendments to extend the Joint Venture Operating Agreement (JVOA) for the Company's proposed Condensate Stripping Plant (CSP) with Mitsui & Co., Ltd. (Mitsui), and associated agreements to December 31, 2012 were being contemplated. InterOil announced that it has entered into such agreements to extend the dates by which certain conditions are to be met and Final Investment Decisions (FID) made in LNG project agreements with Mitsui until December 31, 2012. Full Article
CORRECTED-(OFFICIAL)-Exxon eyes Interoil assets for PNG LNG expansion
(Corrects to show that 4 to 5 tcf is the gas required for one train, not the amount being considered in Interoil deal)
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