InterOil Corporation announced financial and operating results for the second quarter ended June 30, 2013.
Key Points:
Commenting on the results InterOil CEO Dr. Michael Hession said the Company was at an inflection point in its history and the leadership team intended to deliver on the value that had been built during the past sixteen years.
“InterOil is a proud PNG company with great people and excellent assets and remains committed to the further development of PNG” , Dr. Hession said.
“We are streamlining the Company to concentrate on our core business activities of oil refining, wholesale and retail petroleum distribution, monetisation of our gas fields and exploration.
“We will pursue a monetisation in a way that provides revenue and employment for the PNG economy, retains up-side for the Company and its shareholders and provides funds for further exploration. All of our activities are aimed at creating value for shareholders in a vertically integrated oil and gas company that has already made major discoveries and has significant exploration potential.
“We will build on our success by resuming our exploration activities and will seek additional exploration partners.”