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Latest Liquid Niugini LNG Stories

2014-09-16 04:20:31

Appraisal of PRL15 now underway SINGAPORE and PORT MORESBY, Papua New Guinea, Sept. 16, 2014 /PRNewswire/ -- InterOil Corporation (NYSE:IOC) (POMSoX:IOC) has started drilling the Antelope-4 appraisal well in Petroleum Retention License 15 in Papua New Guinea. Antelope-4 is the first of at least two appraisal wells planned on the Antelope field. The well lies about 1km south of Antelope-2 and is the most southern well in the Elk-Antelope field. Antelope-5, the second appraisal...

2014-08-13 08:22:34

Focus on exploration and production SINGAPORE and PORT MORESBY, Papua New Guinea, Aug. 13, 2014 /PRNewswire/ -- -- Net profit for the quarter of $52.3 million -- Refinery and downstream businesses sold to Puma Energy -- $885 million available at June 30, 2014 -- Preparation well advanced for Antelope appraisal wells -- Chris Finlayson, ex-CEO of FTSE100 BG Group appointed Chairman-designate InterOil Corporation (NYSE:IOC; POMSoX:IOC) has announced another...

2014-08-10 00:20:24

Former BG Group CEO and Shell executive to continue company transformation to a world-class explorer and producer SINGAPORE and PORT MORESBY, Papua New Guinea, Aug. 10, 2014 /PRNewswire/ -- InterOil Corporation (NYSE: IOC) (POMSoX: IOC) has appointed former BG Group Chief Executive Officer and Shell executive Chris Finlayson as Chairman-designate. Mr Finlayson, 58, joins the board immediately, and will replace Dr Gaylen Byker, after an appropriate handover. InterOil is an...

2014-07-22 00:20:37

Current valuation creates long-term opportunity SINGAPORE and PORT MORESBY, Papau New Guinea, July 21, 2014 /PRNewswire/ -- InterOil Corporation (NYSE: IOC; POMSoX: IOC) will buy up to US$50 million of its own Class A common shares within the next 12 months. The InterOil board has authorised the buy-back to be done periodically on the open market, based on the stock price and other market factors. InterOil's Chief Executive Officer, Dr Michael Hession, said the move made strategic...

2014-07-14 04:21:44

Well suspended due to higher-than-expected pressures SINGAPORE and PORT MORESBY, Papua New Guinea, July 14, 2014 /PRNewswire/ -- InterOil Corporation (NYSE, POMSox: IOC) has suspended the Wahoo-1 well in PPL474 in Papua New Guinea after intersecting gas and higher-than-expected pressures that could compromise rig safety. Significant concentrations of methane, ethane, propane and butane have been recorded and are believed to be entering the well bore from permeable zones above the...

2014-06-30 04:20:43

- Enhances focus on higher-returning upstream and LNG business SINGAPORE and PORT MORESBY, Papua New Guinea, June 30, 2014 /PRNewswire/ -- InterOil Corporation (NYSE: IOC, PoMSOX: IOC) has announced the sale of companies that hold its Papua New Guinea oil refinery and petroleum products distribution businesses to Singapore-based Puma Energy Group Pte for US$525.6 million, which includes adjustments for cash and working capital. InterOil's downstream businesses include the Napa...

2014-06-17 04:20:29

SINGAPORE, June 17, 2014 /PRNewswire/ -- InterOil Corporation (NYSE: IOC; POMSoX: IOC) has finalised a US$300 million syndicated, senior secured capital expenditure facility through a consortium of banks led by Credit Suisse AG. The facility was supported by InterOil's existing banks, Credit Suisse, Commonwealth Bank of Australia, Westpac Bank, Australia and New Zealand Banking Group, Bank of South Pacific, BNP Paribas, UBS AG, Macquarie Capital Group, and new banks, The Bank of...

2014-05-14 08:23:08

Milestones Reached, Exploration Starts SINGAPORE and PORT MORESBY, Papua New Guinea, May 14, 2014 /PRNewswire/ -- InterOil Corporation (NYSE:IOC; POMSoX:IOC) (the "company") today announced a 2014 first quarter net profit of $318.6 million, due mainly to a one-off $340.5 million gain from the sale of an interest in PRL 15 to Total S.A. of France on March 26, 2014(1). The profit, up from $4.0 million in the first quarter of 2013, is underpinning aggressive exploration drilling across the four...

2014-03-28 08:21:31

InterOil's Third Well This Month SINGAPORE and PORT MORESBY, Papua New Guinea, March 28, 2014 /PRNewswire/ -- InterOil today began drilling at the Raptor-1 site, as part of its US$300 million oil and gas exploration campaign in Papua New Guinea. This will be InterOil's third exploration well started in PNG since the beginning of March. Raptor is about 20km south-west of Wabo in the Gulf Province. The other two exploration wells begun this month are Bobcat-1, about 20km north of...

2014-03-28 04:21:18

SINGAPORE and PORT MORESBY, Papua New Guinea, March 28, 2014 /PRNewswire/ -- InterOil (NYSE: IOC; POMSoX: IOC) has received notification from Oil Search (ASX, POMSoX: OSH) of a dispute under the Joint Venture Operating Agreement relating to Petroleum Retention License 15 in Papua New Guinea. We will be responding in accordance with the terms of that agreement. Any proceedings commenced by Oil Search seeking to set aside the transaction completed with Total S.A. (Paris: FP, NYSE: TOT)...


Word of the Day
grass-comber
  • A landsman who is making his first voyage at sea; a novice who enters naval service from rural life.
According to the OED, a grass-comber is also 'a sailor's term for one who has been a farm-labourer.'