UPDATE: Billionaire Chandler Loads Up on InterOil (IOC) Ahead of Catalysts

February 13, 2013 11:37 AM EST
(Updated - February 13, 2013 12:50 PM EST)

In addition to positioning ahead of upcoming catalysts, investors in InterOil Corporation (NYSE: IOC) are focusing in on an amended 13G filing from New Zealand billionaire Richard Chandler which showed an increased stake in the company.

Chandler's Orchid Fund owned 7,288,011 shares, or 14.9997% of the shares outstanding at December 31, 2012. This is up from the 4,914,649 shares, or 10.213%, held as of April 30, 2012.

Given New Zealand's close proximity to Papau New Guinea - where IOC operates - investors may feel Chandler has a good handle on the investment opportunity.

Two important catalysts exist for IOC: Elk/Antelope resource selldown (expected in March) and a final investment decision for LNG project.

Shares of IOC are up 7 percent to $70.17.

UPDATE: While the amended 13G filing was out today, a 13F under a different entity showed that Mr. Chandler owned the 7,288,011 shares as of June 30, 2012.

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ugh on 2013-02-14 09:25:50
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Chandler was also a big investor in Sino Forest fraud and kept buying up to the delisting.

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