InterOil Corp (USA) (NYSE:IOC)
A developing fully-integrated energy company whose focus is on operations in Papua New Guinea and its surrounding region.
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Read the story at--http://www.citronresearch.com/index.php/2007/03/27/stocklemon-updates-interoil-amexioc/
Who would you trust--people with a huge financial interest in pumping the company or people who are doing their best to tell an accurate story about the company's prospects? I'd go with option #2.
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Going with the CAPS community on this one.
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Lemon-Aide
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Seems they are misleading us
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I, for one, am confident that PNG will have enough oil exclusively for IOC that the company's million-dollar debt will turn around.
NOT.
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Stock Lemon. This stock is bleeding cash, and is in debt up to its ears.
This won't have a good ending.
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Hey it's an oil company, no wait it's a gas company, no wait it's an overvalued rock. Gas in PNG? Suprise... nope there's plenty of Gas there and XOM appears to be a possible player in that area. Cheetah gas and oil has a stake in PNG and oh wait you've never heard of them... likely it will stay that way. Do a little research and see who has left PNG because the gas in stranded with no reasonable way of getting it to someone who might buy it. No pipeline, no nada. Sure Merrill and Druckenmiller are playing in this sandbox and I hate to be the cat but rememeber the analysts at Raymond James aren't your friends and theres no reason that they aren't giving us a Blodgett. This will flow down the road to bankruptcy but it may just take a while longer. A few choice financials to think about. They have 30 million in cash and 252 million in debt. The analysts have picked IOC which has lost 51 million and predicted at loss of 1.09 a share this year (silly me only seeing it at a loss of 1.76 per share. Anyway next year should be the year with a positive EPS of almost a dollar a share. So they only need a profit margin of roughly 80 million dollars or so to turn this around. Considering their gross profit on 486 million of revenue was a robust 13 million I'm sure the billion dollar revenue will give us roughly 6 times the profit. There is something cooking here and it's not with gas. I see some analysts blowing smoke and I'm hoping to be there when it clears at the bottom of the junk pile with this stock.
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Articals I've read say that IOC has found major gas deposits. If IOC can arange to have this gas liquified for shipping, they are sitting on a veritible gold mine.
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Overpriced. This is an 800m company that bleeds cash. It is way overpriced for it's current prospects and business model. Short it hard!
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too much debt
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Sitting on the biggest gas field ever discovered in the PNG
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Elk 1 will be big. Elk 2 will be the same. More and more institutions are getting in to this small cap stock. It should be a triple in two years.
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Another company with nothing positive going for it.
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potential elephant oil and gas discovery in papua New Guineay, will know shortly
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I think Interoil management is full of shhhut your mouth. Lots of PR's on wells that wind up dry holes. Refinery is a money pit. CFO left. Co.recently had to restate financials.
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http://www.stocklemon.com/08_23_06.html
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Won't find any oil in exploratory wells; Refining business barely profitable
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