InterOil: Uncertainty Fading - Shareholders Unite

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InterOil: Uncertainty Fading
Jun 13, 2008 11:31 AM UTC

Shareholders Unite

Return	Risk
+45.60%	MID

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Symbol	Sentiment	Start	Return	Closed
IOC		06/13/08	+51.74%	--

Via Long Investment Ideas from Seeking Alpha:

Since the last time we wrote here about IOC a month ago (May 5), a lot has happened - apart from the share price rallying 30+%. A revisit is warranted. I think that a lot of uncertainty is being taken out as we speak, and the upside is now very, very significant.

Refinanced
The outstanding loan to Merrill Lynch and Clarion Finanz ($130M) was settled by two deals. Clarion agreed to a straight debt for equity swap of their part of the loan ($60M). InterOil issued 2.7M shares at $22.65 (which was about a dollar higher than the market price when the deal was announced, and probably quite a bit more when it was negotiated).

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