InterOil Closes U.S.$70.4 Million Registered Direct Common Stock Offering

InterOil Corporation announced it has closed its previously announced 2,013,815 share common stock “registered direct” offering. InterOil has received gross proceeds of U.S.$70,443,249 before deducting offering expenses. Phil Mulacek, Chief Executive Officer of InterOil, commenting on the transaction said, “The opportunity presented by the Elk/Antelope discovery and surrounding prospects... 

InterOil Announces Conversion of All Subordinated Convertible Debentures

InterOil Corporation today notified holders of its 8% convertible subordinated debentures, due May, 2013, of its intention to exercise its right to mandatorily convert all outstanding debentures into common shares at a conversion price of $25.00 per share. This conversion right was triggered by the daily volume weighted average price of our common shares remaining at or above the mandatory conversion... 

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InterOil Announces $57.5 Million Working Capital Loan Facility With Banks in Papua New Guinea

InterOil Corporation, announced that it has secured a 150 million Kina (US$57.5 million) revolving working capital facility for its wholesale and retail petroleum products distribution business in Papua New Guinea from two of that country’s leading financial institutions, Bank of South Pacific Limited and Westpac Bank PNG Limited. “We are pleased to have established this facility which... 

InterOil Provides Market Guidance on Its Business Operations

InterOil Corporation, a Canadian company with operations in Papua New Guinea confirmed that it is on track to meet its projected earnings for the third quarter of 2008. The midstream refining and downstream distribution operations have continued to operate profitably and are in line with the Company’s profit expectations. “We will be filing our third quarter financials on November 10, and...