InterOil (IOC) Controversy Continues, But Shares Trade Higher
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Shares of InterOil Corporation (NYSE: IOC) have seen volatility mid-day after BusinessInsider.com had an updated report saying that skeptics view a video, which claims to show "InterOil Antelope 2 World Record Gas Flow 705 mscf/day", as inaccurate as it doesn't show anywhere near a record flow.
The video was purportedly uploaded by the company CFO, but that has not been verified. In addition the flow could have been intentionally constricted in the video or the video is mislabeled.
Even with the increased volatility following the report, shares are 2.7% higher today into the CEO presentation later in the week.
InterOil's CEO will present at the Independent Petroleum Association of America's 2010 Oil & Gas Investment Symposium that is being held at The Sheraton New York Hotel & Towers in New York City, New York, on April 14, 2010 at 08:45 a.m.
The video was purportedly uploaded by the company CFO, but that has not been verified. In addition the flow could have been intentionally constricted in the video or the video is mislabeled.
Even with the increased volatility following the report, shares are 2.7% higher today into the CEO presentation later in the week.
InterOil's CEO will present at the Independent Petroleum Association of America's 2010 Oil & Gas Investment Symposium that is being held at The Sheraton New York Hotel & Towers in New York City, New York, on April 14, 2010 at 08:45 a.m.
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