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State refiner Indian Oil Corporation (IOC) on Wednesday (March 25) said it has received the government approval for merger of Bongaigaon Refinery and Petrochemicals Ltd (BRPL) with itself. IOC owns about 74% in BRPL and the merger would be effective today, the company said in a statement to the Bombay Stock Exchange. Shareholders of BRPL will get four shares of IOC for every 37 shares they held.

InterOil (IOC) is a Canadian integrated (exploration assets, refinery, near distribution monopoly) located in Papua New Guinea [PNG]. After having struck two earlier profusely flowing natural gas and liquids wells (flowing at 102 and 105MMcf/d respectively), they hit an absolute killer with Antelope1, which flowed at a whopping 382MMcf/d..

Record well
Summing up a few findings:

It depends how soon you need your money, and it depends on your view on the world economy. Sooner or later, more normal conditions will return. Some observations on the sell-off in InterOil (IOC).

We start with an apology. People lost real money these days and we don’t feel comfortable with that. However, we firmly believe that everything we have said about InterOil the last couple of months (and quite a few things we didn’t say), is true and continues to be true.

Filed under: General Electric (GE), Marketing and advertising, Business of sports

The New York Times reports that General Electric Company's (NYSE: GE) NBC Universal invested $894 million to secure the broadcast rights for the Beijing Olympics and it expects to earn a $100 million profit. The Times also quotes CEO Jeff Immelt as saying that the benefits to GE are even greater -- including "$700 million worth of services it is providing for the Games and its long-term relationship with China, where it does more than $4 billion worth of business."

On Friday morning, we published a post that included an embedded video player that linked to live coverage of the Beijing Olympics opening ceremony. On Saturday afternoon, we received what appears to be an auto-generated takedown notice from the International Olympic Committee, which is apparently using UK-based monitoring service Friend MTS to help it scour the Web.