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InterOil (IOC) Could Be Volatile After Attempted Military Mutiny in Papua New Guinea

January 26, 2012 8:43 AM EST Send to a Friend
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Traders have their eye on InterOil (NYSE: IOC) Thursday after an attempted military mutiny in Papua New Guinea, the county were the company's wells are located.

Analysts at Forensic Research Group said while the volatile political situation in Papua New Guinea doesn't impact InterOil's standing with the Papua New Guinea government, "it is likely to make InterOil's potential partners' (re: Mitsui) feet colder."

The company for its part told Bloomberg that there have been no interruptions to operations in the Pacific Islands nation.

While developments are fluid, goings-on in the nation may be better than feared. The county's Prime Minister Peter O'Neill said the military mutiny was over and the government had regained full control of its military barracks, according to reports from Reuters.

Raymond James analyst Pavel Molchanov is keeping its Outperform rating on the stock despite the tense situation.




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