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Press Releases

1/23/2021 - Rosen, Global Investor Counsel, Continues to Investigate Securities Claims Against Exxon Mobil Corporation; Encourages Investors with Losses in Excess of $100K to Contact the Firm - XOM
X
Rosen, Global Investor Counsel, Continues to Investigate Securities Claims Against Exxon Mobil Corporation; Encourages Investors with Losses in Excess of $100K to Contact the Firm - XOM
Source: PR Newswire
Orignial Article: https://contentapi.cision...
NEW YORK, Jan. 23, 2021 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Exxon Mobil Corporation (NYSE: XOM) resulting from allegations that Exxon Mobil may have issued materially misleading business information to the investing public.

On January 15, 2021, The Wall Street Journal published an article titled, "Exxon Draws SEC Probe Over Permian Basin Asset Valuation." The article reported that the U.S. Securities and Exchange Commission launched an investigation after an Exxon Mobil employee filed a whistleblower complaint alleging that the Company overvalued one if its most important oil and gas properties. The whistleblower complaint asserts that during a 2019 internal assessment, workers were forced to use unrealistic assumptions about how quickly wells in the Permian Basin could be drilled to reach a higher valuation.
On this news, Exxon Mobil's stock price fell $2.42 per share, or 4.81%, to close at $47.89 per share on January 15, 2021.
Rosen Law Firm is preparing a securities lawsuit on behalf of Exxon Mobil shareholders. If you purchased securities of Exxon Mobil please visit the firm's website at http://www.rosenlegal.com/cases-register-2021.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
-------------------------------
Contact Information:
      Laurence Rosen, Esq.

      Phillip Kim, Esq.

      The Rosen Law Firm, P.A.

      275 Madison Avenue, 40^th Floor

      New York, NY 10016

      Tel: (212) 686-1060

      Toll Free: (866) 767-3653

      Fax: (212) 202-3827

      lrosen@rosenlegal.com

      pkim@rosenlegal.com

      cases@rosenlegal.com

      www.rosenlegal.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/rosen-global-investor-counsel-continues-to-investigate-securities-claims-against-exxon-mobil-corporation-encourages-investors-with-losses-in-excess-of-100k-to-contact-the-firm--xom-301213528.html
SOURCE Rosen Law Firm, P.A.

Article Date
1/23/2021
Close
1/22/2021 - The World's Next Great Onshore Oil Discovery Could Be Here
X
The World's Next Great Onshore Oil Discovery Could Be Here
Source: PR Newswire
Orignial Article: https://contentapi.cision...
FN Media Group Presents Oilprice.com Market Commentary
LONDON, Jan. 22, 2021 /PRNewswire/ -- A three-well drill campaign has just been launched by a small-cap explorer in a massive Permian basin that could end up being the next major conventional onshore oil discovery in the world. And everyone's watching as many names in the oil industry and resource assessment gather around Reconnaissance Energy (RECO; RECAF).  Mentioned in today's commentary includes:  Exxon Mobil Corporation (NYSE: XOM), Eni S.p.A. (NYSE: E), Halliburton Company (NYSE: HAL), Pioneer Natural Resources Company (NYSE: PXD), Enterprise Products Partners L.P. (NYSE: EPD).
It's exciting for two reasons. First, there's no more potentially lucrative risk-reward setup than a small-cap sitting on a high-risk exploration play. Plays like this that succeeded have netted some investors 1,000-4,000% gains in the past. And this play is in Africa, where we've seen it happen before: 
• Africa Oil netted well timed investors over 1,000% gains
• Tanganyaika Oil netted investors up to 4,000% gains
• Centurion Energy International netted investors over 1,200% gains.
And those gains were for plays that might in the end pale in comparison to the potential of RECO's 8.5-million-acre Kavango basin in Namibia and Botswana. RECO's land package is far bigger and far more consequential, with well-known geoscientists in the industry backing what they think could end up being 120 billion barrels of oil in place. 
Haywood, which initiated coverage of RECO in November at a $2.50 price target, has now bumped that up to $7.00 in the short term precisely because it knows potential upside when it sees it. 
Big Money Is Looking to Conventional & Loves the Permian
Saudi Arabia's conventional oil wells are extremely cheap to operate. In fact, the Saudis can produce oil for as low as $3 a barrel. American shale costs many times more to extract, and in some cases up to $73 per barrel. It's not as simple as drilling a hole in the ground and watching the oil gush out. And while U.S. shale or "unconventional" oil was all the rage behind the boom that ended up making the United States a top producer to challenge even the Saudis, the new rationale is that the next big discovery will have to be conventional--and huge--in order to make economic sense. 
Now, Wood Mackenzie--the most trusted name in resource assessments--says ReconAfrica's (RECO; RECAF) Kavango Basin is analogous to the Midland Basin in Texas, part of the prolific Permian. Not only that, but Woods Mackenzie  estimates the overall development value of Midland to be $540 billion. 
Texas' Permian basin boasts one of the world's thickest deposits of sedimentary rocks,  formed during the Permian geological period. It's a 250-mile-wide, 300-mile-long sedimentary basin housing the Midland Basin, the Delaware Basin, and the Central Basin Platform across West Texas and Southeast New Mexico. 
It's produced 28.9 billion barrels of oil and 75 trillion cubic feet of gas, with no sign of letting up. As of the time of writing, the Permian basin is producing over 4 million barrels per day. In 2019, it became the top producer in the world, even outranking the Saudis. And … it's analogous to Kavango, the next potentially huge conventional oil discovery that we're about to find out about in a matter of months. 
A 2021 Oil Frenzy Can Only Happen in Africa
It's generally thought that there's almost no oil or gas left to discover on land, except in Africa, which remains massively under explored. There aren't likely to be any more huge discoveries in Nigeria and Angola, Africa's No. 1 and No.2 producers, respectively, and environmental disasters, corruption, and heavy-handed tax regimes are rendering both increasingly toxic.
Namibia hasn't produced a single barrel of oil in its history - onshore or offshore. Offshore, Exxon (XOM) has scooped up 7 million net acres …Onshore, Recon Africa (RECO; RECAF) is the superstar--and the only player with significant acreage in the field. That's because it bought up oil and gas rights to the entire Kavango sedimentary basin from Namibia all the way to Botswana before anyone had time to blink. 
Now, the company is setting itself up for an even bigger potential win than Africa Oil did in a stunning discovery that put Kenya on the oil map back in 2010. When small-cap Africa Oil discovered the East Africa Rift oil, investors saw a 10X windfall right off the bat. 
World-Famous Geochemist Estimates 120 Billion Barrels
The prospects here are so tantalizing that some of the most renowned geoscientists in the world have chimed in. 
Dan Jarvie, one of the original geoscientists that helped locate their claim in Namibia, is a world-renowned geochemist who's analyzed and interpreted petroleum formations the world over. He was one of the primary drivers behind the exploration of the Barnett resource play and former Chief Geochemist for oil and gas major EOG Resources (one of the largest independent oil producers in North America).
Jarvie recently came out with estimates showing the potential for generation of  120 billion barrels of oil equivalent based only on 12% of Recon's holdings. He says he's being conservative. And it's not just 120 billion barrels to Jarvie: "We could even be looking at the last major onshore oil discovery on Earth."
Even better: ReconAfrica (RECO; RECAF) still has plenty of cash on hand to complete their drill program – and with a massive 8.5-million-acre land package, it's also got plenty of promising targets to choose from.
With the first test well already spudded, and drilling operations now underway as of today, by mid-February, we could already see them reach a depth of 12,000 feet. Next comes 2D seismic acquisition and interpretation in Q2 2021, followed by 6-2 well evaluation and drilling of two other back-to-back wells in the same quarter. 
By the second half of next year if everything goes to plan, it's likely RECO will already be in JV discussions if drilling goes as planned. RECO just went one step closer to de-risking a "massive potential resource", according to Haywood. In a few weeks, early-in investors will find out, and it will be on everyone's radar. 



Big Oil Could Benefit From The Price Rebound



Exxon (XOM) has been desperately pulling on all the levers in a bid to get through the oil slump with its dividend intact but could be running out of options. Exxon has announced that it will cut 15% of its workforce in order to protect its fat dividend (10.6% yield) and also slash capital expenditure--again.



Like many of its peers, ExxonMobil has also shed nearly half of its value since the beginning of 2020. Despite this, Exxon has been making big moves in the energy realm, and is positioning itself perfectly to capitalize on the rebound in oil prices, as well as the global pivot to natural gas, in the coming years.



Italian energy major, Eni (E), described 2020 as a "year of war", regarding the energy crisis experienced in the face of a global pandemic. But it may be too soon to see the issues faced last year as a thing of the past.  Eni is committing to lower the price of oil at which the company breaks even going into 2021, as a means of tackling the uncertainty of the oil economy in the coming months. Francesco Gattei, CFO at Eni, stated that "Volatility is growing every year.", highlighting the need to be prepared for the energy demand of the future. In fact, Eni has now set out a plan to lower its greenhouse gas emissions by 80% by 2050. 



Like other oil majors, Eni's share price took a major beating in 2020, falling by as much as 30% over the course of the year. But thanks to recovering demand and its diversification efforts, Eni is looking more and more appealing to investors.



Halliburton (HAL) is one of the largest oilfield services companies in the world. The company has secured its place as a giant in the oil and gas industry. But it didn't happen overnight. The oilfield services sector is highly competitive and ripe with innovation. In order to stay ahead, companies must be on the absolute cutting edge of technology. And that's exactly what Halliburton has done. And recently, Halliburton increased the heat for its competition. Partnering with Microsoft, Halliburton has become one of the most exciting "tech" plays in the industry.



The oilfield services sector was among the hardest hit in the 2020 oil price disaster, and Halliburton was not immune to its impact. The company saw its share prices crater, falling by 79% from January to March. The hit definitely stung, but Halliburton rose to the challenge. Thanks to its strong management and innovative approach to the industry, the company's stock managed to stage a fairly impressive recovery, climbing from $5 in March to today's price of $20, proving that it's still got what it takes to remain competitive in this industry.



Pioneer Natural Resources (PXD) was one of the big—and few—dealmakers of 2020, acquiring Parsley Energy for about $7.6 billion in an all-stock deal that also included Parsley's debt. The landmark deal helped make Texas-based Pioneer the largest independent oil and gas producer in the Permian Basin. Having worked together previously, the merger expects significant savings and greater pressure on regulators in the region. Working in the Permian Basin, the world's most prolific oilfield with a production of 558,000 bpd equivalent, Pioneer hopes this will ensure it rides out the Covid-19 slump.



But that doesn't mean investors shouldn't keep an eye on the company. Share prices of Pioneer have nearly doubled since November, climbing from $77 per share to today's price of $132.  And while outlook for the shale patch isn't particularly inspiring at the moment, Pioneer is an undervalued stock in an industry that will inevitably return to its previous glory.
Enterprise Products Partners (EPD) is the top transporter of natural gas liquids (NGLs) and also owns the most NGL fractionation capacity in the United States, as well as dock space for exports. Enterprise Products is the largest midstream MLP in the country. Enterprise has clearly read the signs of the times and has begun to work with partners to scale back its project backlog. In the past, EP was able to weather the normal industry headwinds thanks to robust cash coverage and manageable leverage. Unfortunately, Covid-19 has been anything but your average downturn, and EP has been forced to seriously cut back on Capex.



Despite the downturn, which saw Enterprise lose as much as 30% of its value in 2020, things are already looking up for the company. Its dividend distribution is still attractive to investors at 8.6%, its cash flow is sustainable, and its fiscal expectations look promising. Altogether, that puts Enterprise in an attractive position for investors looking for potentially undervalued stocks as oil prices stage a comeback.
By. Polly Steele


**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**
Forward-Looking Statements. Statements contained in this document that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Recon. All estimates and statements with respect to Recon's operations, its plans and projections, size of potential oil reserves, comparisons to other oil producing fields, oil prices, recoverable oil, production targets, production and other operating costs and likelihood of oil recoverability are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties including, without limitation: risks associated with oil and gas exploration, timing of reports, development, exploitation and production, geological risks, marketing and transportation, availability of adequate funding, volatility of commodity prices, imprecision of reserve and resource estimates, environmental risks, competition from other producers, government regulation, dates of commencement of production and changes in the regulatory and taxation environment. Actual results may vary materially from the information provided in this document, and there is no representation that the actual results realized in the future will be the same in whole or in part as those presented herein. Other factors that could cause actual results to differ from those contained in the forward-looking statements are also set forth in filings that Recon and its technical analysts have made, We undertake no obligation, except as otherwise required by law, to update these forward-looking statements except as required by law.
Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. Recon's future success will depend on its ability to develop its current properties and on its ability to discover resources that are capable of commercial production. However, there is no assurance that Recon's future exploration and development efforts will result in the discovery or development of commercial accumulations of oil and natural gas. In addition, even if hydrocarbons are discovered, the costs of extracting and delivering the hydrocarbons to market and variations in the market price may render uneconomic any discovered deposit. Geological conditions are variable and unpredictable. Even if production is commenced from a well, the quantity of hydrocarbons produced inevitably will decline over time, and production may be adversely affected or may have to be terminated altogether if Recon encounters unforeseen geological conditions. Adverse climatic conditions at such properties may also hinder Recon's ability to carry on exploration or production activities continuously throughout any given year.
DISCLAIMERS
ADVERTISEMENT. This communication is not a recommendation to buy or sell securities. Oilprice.com, Advanced Media Solutions Ltd, and their owners, managers, employees, and assigns (collectively "the Company") have been paid by Recon seventy thousand U.S. dollars to write and disseminate this article. As the Company has been paid for this article, there is a major conflict with our ability to be unbiased, more specifically:
This communication is for entertainment purposes only. Never invest purely based on our communication. We have not been compensated but may in the future be compensated to conduct investor awareness advertising and marketing for RECO. Therefore, this communication should be viewed as a commercial advertisement only. We have not investigated the background of the company. Frequently companies profiled in our alerts experience a large increase in volume and share price during the course of investor awareness marketing, which often end as soon as the investor awareness marketing ceases. The information in our communications and on our website has not been independently verified and is not guaranteed to be correct.
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Article Date
1/22/2021
Close
1/22/2021 - The World's Next Great Onshore Oil Discovery Could Be Here
X
The World's Next Great Onshore Oil Discovery Could Be Here
Source: PR Newswire
Orignial Article: https://contentapi.cision...
LONDON, Jan. 22, 2021 /PRNewswire/ -- A three-well drill campaign has just been launched by a small-cap explorer in a massive Permian basin that could end up being the next major conventional onshore oil discovery in the world. And everyone's watching as many names in the oil industry and resource assessment gather around Reconnaissance Energy (RECO; RECAF).  Mentioned in today's commentary includes:  Exxon Mobil Corporation (NYSE: XOM), Eni S.p.A. (NYSE: E), Halliburton Company (NYSE: HAL), Pioneer Natural Resources Company (NYSE: PXD), Enterprise Products Partners L.P. (NYSE: EPD).
It's exciting for two reasons. First, there's no more potentially lucrative risk-reward setup than a small-cap sitting on a high-risk exploration play. Plays like this that succeeded have netted some investors 1,000-4,000% gains in the past. And this play is in Africa, where we've seen it happen before: 
• Africa Oil netted well timed investors over 1,000% gains
• Tanganyaika Oil netted investors up to 4,000% gains
• Centurion Energy International netted investors over 1,200% gains.
And those gains were for plays that might in the end pale in comparison to the potential of RECO's 8.5-million-acre Kavango basin in Namibia and Botswana. RECO's land package is far bigger and far more consequential, with well-known geoscientists in the industry backing what they think could end up being 120 billion barrels of oil in place. 
Haywood, which initiated coverage of RECO in November at a $2.50 price target, has now bumped that up to $7.00 in the short term precisely because it knows potential upside when it sees it. 
Big Money Is Looking to Conventional & Loves the Permian
Saudi Arabia's conventional oil wells are extremely cheap to operate. In fact, the Saudis can produce oil for as low as $3 a barrel. American shale costs many times more to extract, and in some cases up to $73 per barrel. It's not as simple as drilling a hole in the ground and watching the oil gush out. And while U.S. shale or "unconventional" oil was all the rage behind the boom that ended up making the United States a top producer to challenge even the Saudis, the new rationale is that the next big discovery will have to be conventional--and huge--in order to make economic sense. 
Now, Wood Mackenzie--the most trusted name in resource assessments--says ReconAfrica's (RECO; RECAF) Kavango Basin is analogous to the Midland Basin in Texas, part of the prolific Permian. Not only that, but Woods Mackenzie  estimates the overall development value of Midland to be $540 billion. 
Texas' Permian basin boasts one of the world's thickest deposits of sedimentary rocks,  formed during the Permian geological period. It's a 250-mile-wide, 300-mile-long sedimentary basin housing the Midland Basin, the Delaware Basin, and the Central Basin Platform across West Texas and Southeast New Mexico. 
It's produced 28.9 billion barrels of oil and 75 trillion cubic feet of gas, with no sign of letting up. As of the time of writing, the Permian basin is producing over 4 million barrels per day. In 2019, it became the top producer in the world, even outranking the Saudis. And … it's analogous to Kavango, the next potentially huge conventional oil discovery that we're about to find out about in a matter of months. 
A 2021 Oil Frenzy Can Only Happen in Africa
It's generally thought that there's almost no oil or gas left to discover on land, except in Africa, which remains massively under explored. There aren't likely to be any more huge discoveries in Nigeria and Angola, Africa's No. 1 and No.2 producers, respectively, and environmental disasters, corruption, and heavy-handed tax regimes are rendering both increasingly toxic.
Namibia hasn't produced a single barrel of oil in its history - onshore or offshore. Offshore, Exxon (XOM) has scooped up 7 million net acres …Onshore, Recon Africa (RECO; RECAF) is the superstar--and the only player with significant acreage in the field. That's because it bought up oil and gas rights to the entire Kavango sedimentary basin from Namibia all the way to Botswana before anyone had time to blink. 
Now, the company is setting itself up for an even bigger potential win than Africa Oil did in a stunning discovery that put Kenya on the oil map back in 2010. When small-cap Africa Oil discovered the East Africa Rift oil, investors saw a 10X windfall right off the bat. 
World-Famous Geochemist Estimates 120 Billion Barrels
The prospects here are so tantalizing that some of the most renowned geoscientists in the world have chimed in. 
Dan Jarvie, one of the original geoscientists that helped locate their claim in Namibia, is a world-renowned geochemist who's analyzed and interpreted petroleum formations the world over. He was one of the primary drivers behind the exploration of the Barnett resource play and former Chief Geochemist for oil and gas major EOG Resources (one of the largest independent oil producers in North America).
Jarvie recently came out with estimates showing the potential for generation of  120 billion barrels of oil equivalent based only on 12% of Recon's holdings. He says he's being conservative. And it's not just 120 billion barrels to Jarvie: "We could even be looking at the last major onshore oil discovery on Earth."
Even better: ReconAfrica (RECO; RECAF) still has plenty of cash on hand to complete their drill program – and with a massive 8.5-million-acre land package, it's also got plenty of promising targets to choose from.
With the first test well already spudded, and drilling operations now underway as of today, by mid-February, we could already see them reach a depth of 12,000 feet. Next comes 2D seismic acquisition and interpretation in Q2 2021, followed by 6-2 well evaluation and drilling of two other back-to-back wells in the same quarter. 
By the second half of next year if everything goes to plan, it's likely RECO will already be in JV discussions if drilling goes as planned. RECO just went one step closer to de-risking a "massive potential resource", according to Haywood. In a few weeks, early-in investors will find out, and it will be on everyone's radar. 



Big Oil Could Benefit From The Price Rebound



Exxon (XOM) has been desperately pulling on all the levers in a bid to get through the oil slump with its dividend intact but could be running out of options. Exxon has announced that it will cut 15% of its workforce in order to protect its fat dividend (10.6% yield) and also slash capital expenditure--again.



Like many of its peers, ExxonMobil has also shed nearly half of its value since the beginning of 2020. Despite this, Exxon has been making big moves in the energy realm, and is positioning itself perfectly to capitalize on the rebound in oil prices, as well as the global pivot to natural gas, in the coming years.



Italian energy major, Eni (E), described 2020 as a "year of war", regarding the energy crisis experienced in the face of a global pandemic. But it may be too soon to see the issues faced last year as a thing of the past.  Eni is committing to lower the price of oil at which the company breaks even going into 2021, as a means of tackling the uncertainty of the oil economy in the coming months. Francesco Gattei, CFO at Eni, stated that "Volatility is growing every year.", highlighting the need to be prepared for the energy demand of the future. In fact, Eni has now set out a plan to lower its greenhouse gas emissions by 80% by 2050. 



Like other oil majors, Eni's share price took a major beating in 2020, falling by as much as 30% over the course of the year. But thanks to recovering demand and its diversification efforts, Eni is looking more and more appealing to investors.



Halliburton (HAL) is one of the largest oilfield services companies in the world. The company has secured its place as a giant in the oil and gas industry. But it didn't happen overnight. The oilfield services sector is highly competitive and ripe with innovation. In order to stay ahead, companies must be on the absolute cutting edge of technology. And that's exactly what Halliburton has done. And recently, Halliburton increased the heat for its competition. Partnering with Microsoft, Halliburton has become one of the most exciting "tech" plays in the industry.



The oilfield services sector was among the hardest hit in the 2020 oil price disaster, and Halliburton was not immune to its impact. The company saw its share prices crater, falling by 79% from January to March. The hit definitely stung, but Halliburton rose to the challenge. Thanks to its strong management and innovative approach to the industry, the company's stock managed to stage a fairly impressive recovery, climbing from $5 in March to today's price of $20, proving that it's still got what it takes to remain competitive in this industry.



Pioneer Natural Resources (PXD) was one of the big—and few—dealmakers of 2020, acquiring Parsley Energy for about $7.6 billion in an all-stock deal that also included Parsley's debt. The landmark deal helped make Texas-based Pioneer the largest independent oil and gas producer in the Permian Basin. Having worked together previously, the merger expects significant savings and greater pressure on regulators in the region. Working in the Permian Basin, the world's most prolific oilfield with a production of 558,000 bpd equivalent, Pioneer hopes this will ensure it rides out the Covid-19 slump.



But that doesn't mean investors shouldn't keep an eye on the company. Share prices of Pioneer have nearly doubled since November, climbing from $77 per share to today's price of $132.  And while outlook for the shale patch isn't particularly inspiring at the moment, Pioneer is an undervalued stock in an industry that will inevitably return to its previous glory.
Enterprise Products Partners (EPD) is the top transporter of natural gas liquids (NGLs) and also owns the most NGL fractionation capacity in the United States, as well as dock space for exports. Enterprise Products is the largest midstream MLP in the country. Enterprise has clearly read the signs of the times and has begun to work with partners to scale back its project backlog. In the past, EP was able to weather the normal industry headwinds thanks to robust cash coverage and manageable leverage. Unfortunately, Covid-19 has been anything but your average downturn, and EP has been forced to seriously cut back on Capex.



Despite the downturn, which saw Enterprise lose as much as 30% of its value in 2020, things are already looking up for the company. Its dividend distribution is still attractive to investors at 8.6%, its cash flow is sustainable, and its fiscal expectations look promising. Altogether, that puts Enterprise in an attractive position for investors looking for potentially undervalued stocks as oil prices stage a comeback.
By. Polly Steele


**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**
Forward-Looking Statements. Statements contained in this document that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Recon. All estimates and statements with respect to Recon's operations, its plans and projections, size of potential oil reserves, comparisons to other oil producing fields, oil prices, recoverable oil, production targets, production and other operating costs and likelihood of oil recoverability are forward-looking statements under applicable securities laws and necessarily involve risks and uncertainties including, without limitation: risks associated with oil and gas exploration, timing of reports, development, exploitation and production, geological risks, marketing and transportation, availability of adequate funding, volatility of commodity prices, imprecision of reserve and resource estimates, environmental risks, competition from other producers, government regulation, dates of commencement of production and changes in the regulatory and taxation environment. Actual results may vary materially from the information provided in this document, and there is no representation that the actual results realized in the future will be the same in whole or in part as those presented herein. Other factors that could cause actual results to differ from those contained in the forward-looking statements are also set forth in filings that Recon and its technical analysts have made, We undertake no obligation, except as otherwise required by law, to update these forward-looking statements except as required by law.
Exploration for hydrocarbons is a speculative venture necessarily involving substantial risk. Recon's future success will depend on its ability to develop its current properties and on its ability to discover resources that are capable of commercial production. However, there is no assurance that Recon's future exploration and development efforts will result in the discovery or development of commercial accumulations of oil and natural gas. In addition, even if hydrocarbons are discovered, the costs of extracting and delivering the hydrocarbons to market and variations in the market price may render uneconomic any discovered deposit. Geological conditions are variable and unpredictable. Even if production is commenced from a well, the quantity of hydrocarbons produced inevitably will decline over time, and production may be adversely affected or may have to be terminated altogether if Recon encounters unforeseen geological conditions. Adverse climatic conditions at such properties may also hinder Recon's ability to carry on exploration or production activities continuously throughout any given year.
DISCLAIMERS
ADVERTISEMENT. This communication is not a recommendation to buy or sell securities. Oilprice.com, Advanced Media Solutions Ltd, and their owners, managers, employees, and assigns (collectively "the Company") have been paid by Recon seventy thousand U.S. dollars to write and disseminate this article. As the Company has been paid for this article, there is a major conflict with our ability to be unbiased, more specifically:
This communication is for entertainment purposes only. Never invest purely based on our communication. We have not been compensated but may in the future be compensated to conduct investor awareness advertising and marketing for RECO. Therefore, this communication should be viewed as a commercial advertisement only. We have not investigated the background of the company. Frequently companies profiled in our alerts experience a large increase in volume and share price during the course of investor awareness marketing, which often end as soon as the investor awareness marketing ceases. The information in our communications and on our website has not been independently verified and is not guaranteed to be correct.
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NOT AN INVESTMENT ADVISOR. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.
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FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Contact Information:

Media Contact e-mail:  editor@financialnewsmedia.com  U.S. Phone: +1(954)345-0611
 
View original content:http://www.prnewswire.com/news-releases/the-worlds-next-great-onshore-oil-discovery-could-be-here-301212961.html
SOURCE Oilprice.com

Article Date
1/22/2021
Close
3/14/2017 - Buckhorn Energy Services, LLC Enters Into Service Agreement with XTO Energy Inc. in McKenzie County, North Dakota
X
Buckhorn Energy Services, LLC Enters Into Service Agreement with XTO Energy Inc. in McKenzie County, North Dakota
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GREENWOOD VILLAGE, Colo., March 14, 2017 /PRNewswire/ -- Buckhorn SWD Solutions, LLC ("Buckhorn" or "the Company"), a leading provider of mid-stream gathering systems, saltwater disposal solutions and waste management for the oil and gas sector, announced today that it has entered into a service agreement with XTO Energy Inc. ("XTO"), a subsidiary of Exxon Mobil Corporation (NYSE:XOM), to provide produced water gathering and disposal services in McKenzie County, North Dakota.
Buckhorn will build, own and operate an 87-mile pipeline and disposal system ("the System"), and will provide produced water gathering and disposal services for XTO Energy's Williston Basin operations. Gary Ebel, CEO of Buckhorn's parent, Buckhorn Energy Services, LLC said, "We are proud to work with the premier operators across our footprint in the Williston and Permian Basins. Our tailor-made systems, like the one we are doing with XTO targeting operations in McKenzie County, reduce field level costs and increase reliability. We have the in-house technical expertise, financial flexibility and operational strength to grow with our clients as operators in the Williston and Permian Basins ramp up production. We look forward to working with XTO and other operators in the McKenzie County area on this System."
The System will serve XTO's dedicated acreage, as well as other operator wells in the area. The system will feature fixed, buried pipelines, which will include a gathering line to transport produced and flowback water for disposal or recycling. Construction on the System is expected to begin in April 2017.
About Buckhorn Energy Services
Founded in 2011, Buckhorn Energy Services, LLC is headquartered in Greenwood Village, Colorado, with operations focused in the Williston and Permian Basins. Buckhorn is a leading provider of innovative solutions in the areas of oilfield fluid management and waste disposal services to the oil and natural gas industry. Through joint ventures and direct operations, Buckhorn controls more than 200 miles of pipeline across 18 townships in its core areas of operations. 
Forward-Looking Statements
This release includes forward-looking statements and projections, made in reliance on the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Buckhorn has made every reasonable effort to ensure that the information and assumptions on which these statements and projections are based are current, reasonable, and complete. However, a variety of factors could cause actual results to differ materially from the projections, anticipated results or other expectations expressed in this release, including (i) changes in demand for our services and any related material impact on our pricing and utilizations rates, (ii) Buckhorn's ability to execute, manage and integrate acquisitions successfully and (iii) changes in our expenses, including labor and financing costs. Additional important risk factors that could cause actual results to differ materially from expectations. While Buckhorn makes these statements and projections in good faith, neither the Company nor its management can guarantee that anticipated future results will be achieved. Buckhorn assumes no obligation to publicly update or revise any forward-looking statements made herein or any other forward-looking statements made by Buckhorn, whether as a result of new information, future events, or otherwise.
Contact:
Jennifer Linden
720-242-9853
 
SOURCE Buckhorn Energy Services, LLC

Article Date
3/14/2017
Close
2/22/2017 - InterOil Announces Completion of ExxonMobil Transaction
X
InterOil Announces Completion of ExxonMobil Transaction
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SINGAPORE and PORT MORESBY, Papua New Guinea, Feb. 22, 2017 /PRNewswire/ -- InterOil Corporation (NYSE: IOC) today announced the completion of the previously announced transaction with Exxon Mobil Corporation (NYSE: XOM). Under the terms of the transaction, ExxonMobil acquired all of the outstanding common shares of InterOil, and InterOil shareholders received 0.5459 shares of ExxonMobil for each InterOil common share and a contingent resource payment (that has been deposited into escrow on closing and will be subsequently released, with applicable adjustments, following certification of the Elk-Antelope resource).  With the completion of the transaction, the common shares of InterOil will be de-listed from the New York Stock Exchange.
Registered holders of InterOil's common shares are reminded that they must properly complete, sign and return the letter of transmittal, along with their share certificate(s), to Computershare Investor Services Inc., as depositary, in order to receive the consideration they are entitled to under the transaction.
Media Contacts
+1-832-625-4000
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
SOURCE InterOil Corporation

Article Date
2/22/2017
Close
2/21/2017 - Supreme Court of Yukon Approves ExxonMobil Transaction
X
Supreme Court of Yukon Approves ExxonMobil Transaction
Source: PR Newswire
SINGAPORE and PORT MORESBY, Papua New Guinea, Feb. 20, 2017 /PRNewswire/ -- InterOil Corporation (NYSE: IOC, POMSox: IOC) today announced that the Supreme Court of Yukon has granted a final order approving the arrangement between InterOil and Exxon Mobil Corporation (NYSE: XOM) ("ExxonMobil"). The arrangement was approved by more than 91% of the shares voted at a Special Meeting on February 14, 2017 and has now received all necessary approvals.  InterOil and ExxonMobil expect the transaction to be completed this week.    
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
James Golden / Aaron Palash Joele Frank, Wilkinson Brimmer Katcher

T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This communication includes "forward-looking statements". All statements, other than statements of historical facts, included in this communication are forward-looking statements. Such forward-looking statements may include, without limitation, statements regarding the pending transaction with ExxonMobil and the timing to consummate the proposed transaction with ExxonMobil.. These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil. No assurances can be given however, that these events will occur. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular assumptions, risks and uncertainties relating to the risk that a condition to closing of the proposed transaction may not be satisfied (including obtaining the required orders from the Yukon court with respect to the transaction), the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the contingent resource payment, the size of the resources in the Elk-Antelope field or any change in the estimate or calculation of such resource size, the outcome of the drilling of the Antelope-7 well, and other risk factors discussed in InterOil's management information circular dated January 13, 2017, InterOil's annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015, and under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with ExxonMobil will occur. The ExxonMobil transaction is subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.
SOURCE InterOil Corporation

Article Date
2/21/2017
Close
2/7/2017 - InterOil Secures US$470 Million Credit Facility
X
InterOil Secures US$470 Million Credit Facility
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SINGAPORE and PORT MORESBY, Papua New Guinea, Feb. 7, 2017 /PRNewswire/ -- InterOil Corporation (NYSE: IOC, POMSox: IOC) today announced that it has entered into a new US$470 million senior secured credit facility. Once the conditions precedent are satisfied, the new facility will refinance and replace the existing US$400 million secured capital expenditure facility.
As noted in the management information circular mailed to securityholders in relation to the proposed transaction with Exxon Mobil Corporation (NYSE: XOM) ("ExxonMobil"), InterOil's independent Transaction Committee ("the Committee") has had numerous discussions regarding InterOil's financial position and recognized that the availability of additional capital would be important to InterOil on a going-forward basis. As such, in order to ensure that InterOil would have sufficient capital to meet its ongoing expenditure obligations, the Committee recommended to the Board that management of InterOil continue to explore the availability of additional funding options. Today's announcement is the culmination of those efforts and has been approved by the full Board.
The facility is secured at an annual interest rate of LIBOR plus 6.5% and terminates at the end of 2017. In addition, if InterOil receives the interim resource certification payment (as contemplated by the share purchase agreement dated March 26, 2014 between subsidiaries of InterOil and Total S.A.) prior to the closing of the proposed transaction with ExxonMobil, the amount of such payment must be used to repay amounts outstanding under the facility. Lenders in the facility include Australia and New Zealand Banking Group Limited (ANZ), Intesa Sanpaolo SPA, Westpac PNG Limited, Bank of South Pacific Limited, Macquarie Bank Limited, Credit Suisse AG, Morgan Stanley and UBS AG. The financing was led by ANZ who acted as Structuring and Documentation Bank. The senior secured credit facility agreement is available under InterOil's SEDAR profile (available at www.sedar.com) and on EDGAR (available at www.sec.gov).
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
James Golden / Aaron Palash Joele Frank, Wilkinson Brimmer Katcher

T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This communication includes "forward-looking statements". All statements, other than statements of historical facts, included in this communication are forward-looking statements. Such forward-looking statements may include, without limitation, statements regarding the conditions precedent to the new credit facility, the sufficiency of capital to meeting InterOil's ongoing expenditure obligations, the availability of additional capital to InterOil on a going-forward basis, the pending transaction with ExxonMobil, the timing to consummate the proposed transaction with ExxonMobil, the ability to satisfy the conditions to consummation of the proposed transaction (including, but not limited to, approval by InterOil shareholders and the required approvals from the Yukon courts), the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the contingent resource payment. These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil. No assurances can be given however, that these events will occur. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular assumptions, risks and uncertainties relating to the fact that the new credit facility will increase the availability of capital on a going-forward basis, the risk that a condition to closing of the proposed acquisition may not be satisfied (including obtaining required approval of InterOil shareholders and the required orders from the Yukon court with respect to the transaction), the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the contingent resource payment, the size of the resources in the Elk-Antelope field or any change in the estimate or calculation of such resource size, the outcome of the drilling of the Antelope-7 well, and other risk factors discussed in the Circular, InterOil's annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015, and under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with ExxonMobil will occur. The ExxonMobil transaction is subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.
SOURCE InterOil Corporation

Article Date
2/7/2017
Close
1/30/2017 - InterOil Reminds Shareholders to Vote "FOR" the ExxonMobil Transaction Today
X
InterOil Reminds Shareholders to Vote "FOR" the ExxonMobil Transaction Today
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SINGAPORE and PORT MORESBY, Papua New Guinea, Jan. 30, 2017 /PRNewswire/ -- InterOil Corporation (NYSE: IOC; POMSoX: IOC) today urged shareholders to follow the recommendations of leading independent proxy advisory firms, Institutional Shareholder Services Inc. ("ISS"), and Glass Lewis & Co. ("Glass Lewis"), by voting FOR the proposed transaction with Exxon Mobil Corporation (NYSE: XOM) in connection with the upcoming Special Meeting scheduled for February 14, 2017. To be counted, all proxies must be received by 12:00 PM ET on February 10, 2017.
In its January 27, 2017 report, ISS stated:^*
"A vote FOR the proposed arrangement is warranted based on a review of the terms of the transaction, in particular, the reasonable strategic rationale, the superior transaction terms (compared to the Oil Search agreement), and the improved disclosure and transaction review process. It appears that the board conducted an adequate strategic review process that resulted in significant disclosure improvements and that addressed concerns raised by the Court of Appeal."
In its January 27, 2017 report, Glass Lewis stated:*
"The board received a new fairness opinion in connection with the Amended Arrangement that provides meaningful disclosure and indicates that the proposed consideration appears favorable relative to the implied value of the Company as derived in discounted cash flows and precedent transactions analyses. The proposed consideration also implies a significant premium to the unaffected closing price of InterOil shares prior to announcement that the Company had agreed to be acquired by Oil Search. Based on the forgoing factors and the support of the board, we believe the proposed transaction is in the best interests of shareholders."
Additional information regarding the value-creating transaction with ExxonMobil and the Board's recommendation for the Special Meeting can be found at www.interoil.com/exxonmobil-transaction, or in InterOil's filings on www.sedar.com and www.sec.gov.
VOTE TODAY
Shareholders are encouraged to vote FOR the ExxonMobil transaction TODAY, but no later than the deadline, online at www.proxyvote.com, by telephone at 1-800-454-8683 in the U.S. or 1-800-474-7493 in Canada or by completing, signing and dating the proxy they previously received in the mail and returning it in the postage-paid envelope by 12:00PM ET on February 10, 2017.
For assistance, contact Mackenzie Partners, Inc. at U.S. (800) 322-2885 and International +1 (212) 929-5500, or iocproxy@mackenziepartners.com.
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
United States

James Golden / Aaron Palash Joele Frank, Wilkinson Brimmer Katcher

T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This communication includes "forward-looking statements". All statements, other than statements of historical facts, included in this communication are forward-looking statements. Such forward-looking statements may include, without limitation, statements regarding the pending transaction with ExxonMobil, the holding of the Meeting and the timing of such Meeting, the timing to consummate the proposed transaction with ExxonMobil, the ability to satisfy the conditions to consummation of the proposed transaction (including, but not limited to, approval by InterOil shareholders and the required approvals from the Yukon courts), the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the contingent resource payment. These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil. No assurances can be given however, that these events will occur. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular assumptions, risks and uncertainties relating to the risk that a condition to closing of the proposed acquisition may not be satisfied (including obtaining required approval of InterOil shareholders and the required orders from the Yukon court with respect to the transaction), the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the contingent resource payment, the size of the resources in the Elk-Antelope field or any change in the estimate or calculation of such resource size, the outcome of the drilling of the Antelope-7 well, and other risk factors discussed in the Circular, InterOil's annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015, and under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with ExxonMobil will occur. The ExxonMobil transaction is subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.
* Permission to use quotations neither sought nor obtained
SOURCE InterOil Corporation

Article Date
1/30/2017
Close
1/16/2017 - InterOil Files Management Information Circular for Proposed Transaction with ExxonMobil
X
InterOil Files Management Information Circular for Proposed Transaction with ExxonMobil
Source: PR Newswire
Urges Shareholders to Vote FOR the Value-Creating Transaction with ExxonMobil
Special Meeting scheduled for February 14, 2017
SINGAPORE and PORT MORESBY, Papua New Guinea, Jan. 16, 2017 /PRNewswire/ -- InterOil Corporation (NYSE: IOC, POMSox: IOC) today announced that it has filed and commenced mailing a management information circular (the "Circular") in relation to the proposed transaction with Exxon Mobil Corporation (NYSE: XOM) ("ExxonMobil"). The special meeting of holders of InterOil's common shares, options and restricted share units (the "Meeting") to vote on the proposed transaction with ExxonMobil is scheduled to be held on February 14, 2017 in New York City. Shareholders of record as of January 10, 2017 will be entitled to vote at the Meeting.
To be counted, all proxies must be received by 12:00 PM ET on February 10, 2017.
If the requisite approval of InterOil's securityholders is obtained, InterOil will seek court approval of the transaction.  
InterOil Board Recommends Shareholders Vote FOR the Transaction
As previously announced on December 15, 2016, InterOil and ExxonMobil have entered into an Amended and Restated Arrangement Agreement. Following receipt of the unanimous recommendation of an independent Transaction Committee ("the Committee") of the InterOil Board of Directors, the InterOil Board of Directors has unanimously recommended that InterOil shareholders vote FOR the proposed transaction with ExxonMobil.
The Circular, which includes a letter to shareholders from InterOil Chairman, Chris Finlayson, provides important information about the background of the transaction, the Committee's review process, the reasons for the Committee's and the Board's recommendation and the value-creating benefits of the transaction.
The Circular and other materials regarding the proposed transaction with ExxonMobil can be found at http://www.interoil.com/exxonmobil-transaction, or in InterOil's filings on www.sedar.com and www.sec.gov.
VOTE TODAY
Shareholders are encouraged to vote FOR the ExxonMobil transaction TODAY, but no later than the deadline, online at www.proxyvote.com, by telephone at 1-800-454-8683 in the U.S. or 1-800-474-7493 in Canada or by completing, signing and dating the enclosed proxy and returning it in the enclosed postage-paid envelope by 12:00PM ET on February 10, 2017.
For assistance, contact Mackenzie Partners, Inc. at U.S. (800) 322-2885 and International +1 (212) 929-5500, or iocproxy@mackenziepartners.com.
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
James Golden / Aaron Palash Joele Frank, Wilkinson Brimmer Katcher

T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This communication includes "forward-looking statements". All statements, other than statements of historical facts, included in this communication are forward-looking statements. Such forward-looking statements may include, without limitation, statements regarding the pending transaction with ExxonMobil, the holding of the Meeting and the timing of such Meeting, the timing to consummate the proposed transaction with ExxonMobil, the ability to satisfy the conditions to consummation of the proposed transaction (including, but not limited to, approval by InterOil shareholders and the required approvals from the Yukon courts), the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the contingent resource payment. These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil. No assurances can be given however, that these events will occur. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular assumptions, risks and uncertainties relating to the risk that a condition to closing of the proposed acquisition may not be satisfied (including obtaining required approval of InterOil shareholders and the required orders from the Yukon court with respect to the transaction), the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the contingent resource payment, the size of the resources in the Elk-Antelope field or any change in the estimate or calculation of such resource size, the outcome of the drilling of the Antelope-7 well, and other risk factors discussed in the Circular, InterOil's annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015, and under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with ExxonMobil will occur. The ExxonMobil transaction is subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.
SOURCE InterOil Corporation

Article Date
1/16/2017
Close
12/16/2016 - InterOil Provides Update on ExxonMobil Transaction
X
InterOil Provides Update on ExxonMobil Transaction
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
- Independent Transaction Committee Unanimously Recommends and Board approves ExxonMobil Transaction
- InterOil Enters into Amended and Restated Arrangement Agreement with ExxonMobil
- Company Expects to Mail Revised MIC in Mid-January 2017
- New Record Date Set for January 10, 2017 for Shareholder Meeting Anticipated in Mid-February 2017
- New Outside Date Set for March 31, 2017
SINGAPORE and PORT MORESBY, Papua New Guinea, Dec. 15, 2016 /PRNewswire/ -- InterOil Corporation (NYSE: IOC, POMSox: IOC) today provided an update on the transaction with Exxon Mobil Corporation (NYSE: XOM).
Amended and Restated Arrangement Agreement
InterOil and ExxonMobil have entered into an Amended and Restated Arrangement Agreement (the "Amended Agreement"), which among other items, extends the outside date of the transaction to March 31, 2017. 
Under the terms of the Amended Agreement:
• ExxonMobil has agreed to purchase all issued and outstanding common shares of InterOil for consideration consisting of US$45.00 per share payable in ExxonMobil shares and a contingent resource payment ("CRP").  This is consistent with the consideration provided for under the Arrangement Agreement entered into by InterOil and ExxonMobil on July 21, 2016.   
• The CRP will provide for an additional cash payment of approximately $7.07 per InterOil share for each trillion cubic feet equivalent (tcfe) gross resource certification of the Elk-Antelope field above 6.2 tcfe, up to a cap of 11 tcfe of certified resource. This is an increase from the July Arrangement Agreement, which was capped at 10 tcfe, representing an increase in total potential consideration to approximately $78.94 per InterOil share from approximately $71.87 per share.
• The termination fee that may become payable by the Company in certain circumstances has been increased from $67 million to $100 million.
"We are pleased to have reached an agreement with ExxonMobil on the transaction, giving our shareholders a chance to consider and benefit from the compelling potential value offered by the transaction," said Chris Finlayson, Chairman of InterOil. "We are now focusing on obtaining the necessary approvals to complete the transaction. We believe this transaction is in the best interests of InterOil and its shareholders, as it provides InterOil shareholders a material and immediate premium for their shares, as well as a potential direct cash payment through a CRP."
Transaction Committee of Board Completes Comprehensive Review
Further to InterOil's announcement on December 13, 2016, InterOil's Independent Transaction Committee ("the Committee"), consisting of four independent and experienced directors of InterOil, has undertaken a detailed and thorough review process to consider whether it is in the best interests of InterOil to proceed with the ExxonMobil transaction, and to ensure that the procedural and substantive aspects of the transaction are responsive to commentary from the Yukon court, relating to approval of the transaction.
To assist in this process, the Committee retained independent legal counsel, Fasken Martineau DuMoulin LLP, to provide transactional and corporate governance advice and engaged BMO Capital Markets ("BMO"), an independent financial advisor, to provide a detailed fairness opinion on a fixed-fee basis. BMO has delivered to the Committee and the InterOil board a fairness opinion stating that based upon and subject to the various assumptions, limitations and qualifications set out in such fairness opinion, and as of the date of such opinion, the consideration to be received by the InterOil shareholders pursuant to the Amended Arrangement is fair, from a financial point of view, to the InterOil shareholders. The fixed fee was paid to BMO immediately following the delivery of the opinion, and was not contingent on the conclusion reached in the opinion, the entry into of the Amended Agreement with ExxonMobil or the completion of the transaction.
The Committee also oversaw the engagement of GLJ Petroleum Consultants Ltd ("GLJ"), an independent qualified reserves evaluator, to provide an update to its Contingent Resource estimates for the Elk-Antelope field to include the results of the Antelope-6 appraisal well which was completed in 2016. GLJ's updated estimates for the gross unrisked Contingent Resources for the Elk-Antelope field are a low estimate of 6.83 tcfe (1C), a best estimate of 7.80 tcfe (2C) and a high estimate of 8.95 tcfe (3C). The GLJ updated estimates do not include results from the Antelope-7 appraisal well which is currently drilling.
The GLJ updated estimates, along with other recent publically disclosed independent estimates, were reviewed by BMO in connection with rendering its fairness opinion.
The Committee's unanimous conclusion and recommendation to the InterOil Board, and the subsequent determination of the entire InterOil Board, is that the proposed transaction is in the best interests of InterOil (considering the interests of all affected stakeholders) and that the consideration to be received by shareholders is fair to shareholders. Additional details regarding the review process followed by InterOil and the Committee will be set forth in a forthcoming management information circular.
"After a thorough review process, consultation with our own independent advisors and careful consideration of available options, including remaining as a standalone company, the Committee has recommended, and the board of directors has unanimously approved, the new Amended and Restated Arrangement Agreement with ExxonMobil," said Dr. William Ellis Armstrong, Chairman of the Committee. "We believe that the proposed transaction with ExxonMobil is in the best interests of InterOil and its shareholders."
Pathway to completion
Based on the anticipated timing of the interim order hearing, InterOil expects to mail a management information circular relating to a special meeting to vote on the ExxonMobil transaction in mid-January 2017, and anticipates that the meeting will be scheduled for mid-February 2017.
To accommodate this schedule, the InterOil Board has set a new Record Date of January 10, 2017. Holders of record of InterOil's common shares, options and restricted share units at the close of business on January 10, 2017 will be entitled to vote at the special meeting.
In recognition of this new timetable InterOil and ExxonMobil have agreed to extend the outside date for completion of the transaction to March 31, 2017. Either party has the right to further extend the outside date to May 31, 2017 if conditions to closing have been satisfied other than those relating to receipt of a final order from the Yukon court.
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
James Golden / Aaron Palash Joele Frank, Wilkinson Brimmer Katcher

T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This communication includes "forward-looking statements". All statements, other than statements of historical facts, included in this communication are forward-looking statements. Such forward-looking statements may include, without limitation, statements regarding the pending transaction with ExxonMobil, the timing to consummate the proposed transaction with ExxonMobil, the ability to satisfy the conditions to consummation of the proposed transaction (including, but not limited to, approval by InterOil shareholders and the required approvals from the Yukon courts), the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the CRP, and the timing of mailing of a management information circular or of scheduling or holding a shareholder meeting relating to the proposed transaction. These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil. No assurances can be given however, that these events will occur. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular assumptions, risks and uncertainties relating to the risk that a condition to closing of the proposed acquisition may not be satisfied (including obtaining required approval of InterOil shareholders and the required orders from the Yukon court with respect to the transaction), the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the CRP, the size of the resources in the Elk-Antelope field or any change in the estimate or calculation of such resource size, the outcome of the drilling of the Antelope-7 well, and other risk factors discussed in InterOil's management information circular dated August 16, 2016, its annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015, and under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws. References to gas resources in this release may include amounts that ExxonMobil or InterOil believe will ultimately be produced but that are not yet classified as "proved reserves" under U.S. SEC definitions.  
Disclosure of Oil and Gas Information
Trillion cubic feet equivalent (tcfe) may be misleading, particularly if used in isolation. A tcfe conversion ratio of one barrel of oil to six thousand cubic feet of gas is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Well test results should be considered as preliminary. Well log interpretations indicating gas accumulations are not necessarily indicative of future production or ultimate recovery. This press release contains estimates of Contingent Resources in the Elk-Antelope fields covered by the Petroleum Retention Licence (PRL) 15 in Papua New Guinea. Contingent Resources are not, and should not be confused with, gas reserves. InterOil owns a 36.5375% interest in the PRL 15 license (post-government back-in right). Estimates of the Contingent Resources in this press release are based upon a report effective November 30, 2016 prepared by GLJ, an independent qualified reserves evaluator. The report was prepared in accordance with the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook"). The Contingent Resources referred to in this press release have been classified as conventional natural gas and natural gas liquids. Contingent Resources are those quantities of natural gas and condensate estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. The economic status of the resources is undetermined and there is no certainty that it will be commercially viable to produce any portion of the resources. There is no certainty that the Contingent Resources in the Elk-Antelope fields will be commercially viable to produce any portion of the resources and it should be noted that it is not certain that all fields / accumulations set herein will progress to reserves. Criteria other than economics may require that the Contingent Resources in the Elk-Antelope fields be classified as Contingent Resources rather than reserves. Contingencies affecting the classification as reserves versus Contingent Resources relate to the following issues as detailed in the COGE Handbook: ownership considerations, drilling requirements, testing requirements, regulatory considerations, infrastructure and market considerations, timing of production and development, and economic requirements.
The following classification of Contingent Resources are used in this press release:
• Low Estimate (or 1C) means there is at least a 90 percent probability (P90) that the quantities actually recovered will equal or exceed the low estimate.
• Best Estimate (or 2C) means there is at least a 50 percent probability (P50) that the quantities actually recovered will equal or exceed the best estimate.
• High Estimate (or 3C) means there is at least a 10 percent probability (P10) that the quantities actually recovered will equal or exceed the high estimate.
The estimates of Contingent Resources provided in this press release are estimates only and there is no guarantee that the estimated Contingent Resources will be recovered. Actual Contingent Resources may be greater than or less than the estimates provided in this in this press release and the differences may be material. There is no assurance that the forecast price and cost assumptions applied by GLJ in evaluating the Contingent Resources in Elk-Antelope fields will be attained and variances could be material. There is also uncertainty that it will be commercially viable to produce any part of the Contingent Resources. For a discussion of the project evaluation scenario, economics status and maturity subclass as well as the chance and development of Contingent Resources evaluated pursuant to GLJ's report on the Elk-Antelope fields see Schedule A to InterOil's Annual Information Form for the year ended December 31, 2015 which is available on www.interoil.com or from the SEC at www.sec.gov or on SEDAR at www.sedar.com. Although the report of GLJ that is attached to Schedule A of InterOil's Annual Information Form for the year ended December 31, 2015 is different than the report of GLJ referred to in this press release, there have been no material changes to the project evaluation scenario, economics status and maturity subclass, or the chance and development of Contingent Resources in the Elk-Antelope gas fields. The operator of the joint venture project in the Elk-Antelope gas fields, Total S.A., estimates that the timeline for development of a liquefied natural gas project in the Elk-Antelope gas fields would include final investment decision in relation to the project in 2019 and first production in 2023 (assuming the project proceeds).
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with ExxonMobil will occur. The ExxonMobil transaction is subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.
SOURCE InterOil Corporation

Article Date
12/16/2016
Close
12/13/2016 - InterOil Provides Update on ExxonMobil Transaction
X
InterOil Provides Update on ExxonMobil Transaction
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SINGAPORE and PORT MORESBY, Papua New Guinea, Dec. 13, 2016 /PRNewswire/ -- InterOil Corporation (NYSE: IOC, POMSox: IOC) today provided an update on the transaction with Exxon Mobil Corporation (NYSE: XOM).
Following the previously announced decision by the Court of Appeal of Yukon to allow an appeal lodged by Phil Mulacek, InterOil's Independent Transaction Committee ("the Committee"), consisting of four independent and experienced directors of InterOil, are undertaking a detailed and thorough review process relating to the proposed transaction, with the support of independent legal counsel and BMO Capital Markets, an independent financial advisor.
To accommodate the new review process, ExxonMobil and InterOil have agreed to extend the outside date of the current Arrangement Agreement to the close of business on Wednesday, December 21, 2016 (New York time).
Dr. William Ellis Armstrong, Chairman of the Committee said, "We are pleased to have reached an agreement with ExxonMobil to extend the outside date and expect to be in a position to update shareholders on the progress of our deliberations shortly."
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
James Golden / Aaron Palash Joele Frank, Wilkinson Brimmer Katcher

T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This communication includes "forward-looking statements". All statements, other than statements of historical facts, included in this communication are forward-looking statements. Such forward-looking statements may include, without limitation, statements regarding the pending transaction with ExxonMobil, the timing to consummate the proposed transaction with ExxonMobil, the ability to satisfy the conditions to consummation of the proposed transaction (including, but not limited to, approval by InterOil shareholders and the required approvals from the Yukon courts), the outcome of the Transaction Committee process or the content of any recommendation by the Transaction Committee to the Board, the outcome of any action by the InterOil Board, and whether ExxonMobil and InterOil will reach any agreement to further amend the outside termination date of the transaction or otherwise amend any of the terms of the proposed transaction. These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil. No assurances can be given however, that these events will occur. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular assumptions, risks and uncertainties relating to the outcome of the Transaction Committee process, the content of any recommendation by the Transaction Committee to the Board, the outcome of any action by the InterOil Board, whether InterOil and ExxonMobil will reach any agreement regarding any amendments to the existing transaction agreement, whether the existing transaction agreement will be terminated and other risk factors discussed in InterOil's management information circular dated August 16, 2016, its annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015, and under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws. References to gas resources in this release may include amounts that ExxonMobil or InterOil believe will ultimately be produced but that are not yet classified as "proved reserves" under U.S. SEC definitions.  
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with ExxonMobil will occur. The ExxonMobil transaction is subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.
SOURCE InterOil Corporation

Article Date
12/13/2016
Close
11/8/2016 - SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Exxon Mobil Corporation (XOM) & Lead Plaintiff Deadline: January 6, 2017
X
SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Exxon Mobil Corporation (XOM) & Lead Plaintiff Deadline: January 6, 2017
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
NEW YORK, Nov. 8, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed against Exxon Mobil Corporation ("Exxon" or the "Company") (XOM) and certain of its officers. This class action is on behalf of a class consisting of all persons who purchased Exxon between February 19, 2016 and October 27, 2016, both dates inclusive (the "Class Period").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").  
Exxon Mobil Corp. is an American multinational oil and gas corporation headquartered in Irving, Texas, and is the world's largest publicly traded company.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements as it emphasized its business model and its transparency and reported integrity, specifically in connection to its oil and gas reserves and the value of those reserves.  Particularly, Exxon's public statements were materially false and misleading when made as they failed to disclose: (1) that Exxon's internal reports about climate change recognized the environmental risks caused by global warming and climate change; (2) that, Exxon knew the risks associated with global warming and climate change, and it would not be able to remove the existing hydrocarbon reserves the Company claimed to have and, therefore, a material portion of Exxon's reserves were stranded and should have been written down; and (3) that Exxon had employed an inaccurate "price of carbon" – the cost of regulations such as a carbon tax or a cap-and-trade system to push down emissions – in evaluating the value of certain of its future oil and gas prospects in order to keep the value of its reserves materially overstated.  As a result of the Company's hyped up statements, Exxon stock traded at artificially inflated prices, reaching a high during the Class Period of over $95 per share. The rating agencies also upheld Exxon's AAA debt rating – the highest – allowing Exxon to sell $12 billion of corporate debt at extremely favorable rates throughout the Class Period.
Between August through September 2016, several news sources reported that federal regulators were looking into Exxon's reserve accounting in regards to climate change and global warming, and the Company's lack of documentation of any of its oil and gas reserves in the face of declining global oil prices.  Following these news reports, Exxon stock dropped to $82.54 per share on September 20, 2016, or over 13% from the Exxon's Class Period high. Then on October 28, 2016, pre-market, Exxon announced its financial results for the quarter ended September 30, 2016.  In it, Exxon revealed that it may be forced to document close 20% of its oil and gas assets.  Following this news, Exxon stock dropped over $2 per share on October 28, 2016, on unusually high trading volume.
No Class has yet been certified in the above action.  To discuss this action, or for any questions, please visit the firm's site: http://www.bgandg.com/xom  or contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.  If you suffered a loss in Exxon, you have until January 6, 2017 to request that the Court appoint you as lead plaintiff.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
 
SOURCE Bronstein, Gewirtz & Grossman, LLC

Article Date
11/8/2016
Close
11/8/2016 - Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Exxon Mobil Corporation
X
Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Exxon Mobil Corporation
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
Article Date
11/8/2016
Close
11/4/2016 - InterOil Provides Update on ExxonMobil Transaction
X
InterOil Provides Update on ExxonMobil Transaction
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SINGAPORE and PORT MORESBY, Papua New Guinea, Nov. 4, 2016 /PRNewswire/ -- InterOil Corporation (NYSE: IOC, POMSox: IOC) today announced that the Court of Appeal of Yukon has upheld the appeal lodged by Phil Mulacek and overturned the Supreme Court of Yukon's approval of the pending transaction with Exxon Mobil Corporation (NYSE: XOM) on October 7, 2016.
InterOil continues to believe that the current Arrangement Agreement represents compelling value for all InterOil shareholders. InterOil and ExxonMobil are considering the court's ruling and determining a path to closing the transaction.
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
James Golden / Aaron Palash Joele Frank, Wilkinson Brimmer Katcher

T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This communication includes "forward-looking statements". All statements, other than statements of historical facts, included in this communication are forward-looking statements. Such forward-looking statements may include, without limitation, statements regarding the pending transaction with ExxonMobil, the timing to consummate the proposed transaction with ExxonMobil, the ability to satisfy the conditions to consummation of the proposed transaction, and the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the CRP. These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil. No assurances can be given however, that these events will occur. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular assumptions, risks and uncertainties relating to the risk that a condition to closing of the proposed acquisition may not be satisfied, the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the CRP and other risk factors discussed in InterOil's management information circular dated August 16, 2016, its annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015, and under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws. References to gas resources in this release may include amounts that ExxonMobil or InterOil believe will ultimately be produced but that are not yet classified as "proved reserves" under U.S. SEC definitions.  
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with ExxonMobil will occur. The ExxonMobil transaction is subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.
SOURCE InterOil Corporation

Article Date
11/4/2016
Close
10/10/2016 - InterOil Provides Update on ExxonMobil Transaction
X
InterOil Provides Update on ExxonMobil Transaction
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SINGAPORE and PORT MORESBY, Papua New Guinea, Oct. 10, 2016 /PRNewswire/ -- InterOil Corporation (NYSE: IOC, POMSox: IOC) today announced that, after the close of business on October 7, 2016, the Supreme Court of Yukon approved the pending transaction ("the transaction") with Exxon Mobil Corporation (NYSE: XOM), including finding that the transaction is fair and reasonable. The decision of the Supreme Court of Yukon followed a contested hearing held on September 27, 2016.
Phil Mulacek, who contested the transaction at the previous court hearing, has filed a notice of appeal and requested a stay of the Supreme Court's decision pending such appeal. InterOil intends to seek to have any appeal heard on an expedited basis, and InterOil and ExxonMobil intend to close the transaction promptly following receipt of a favorable resolution.
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
Singapore	United States
Ann Lee Communications Specialist	James Golden / Aaron Palash Joele Frank, Wilkinson Brimmer Katcher
T: +65 6507 0222 E: ann.lee@interoil.com	T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This communication includes "forward-looking statements". All statements, other than statements of historical facts, included in this communication are forward-looking statements.  Such forward-looking statements may include, without limitation, statements regarding the pending transaction with ExxonMobil, the timing to consummate the proposed transaction with ExxonMobil, the ability to satisfy the conditions to consummation of the proposed transaction, and the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the CRP.  These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil.  No assurances can be given however, that these events will occur.  Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular assumptions, risks and uncertainties relating to the risk that a condition to closing of the proposed acquisition may not be satisfied, the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the CRP and other risk factors discussed in InterOil's management information circular dated August 16, 2016, its annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015, and under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws. References to gas resources in this release may include amounts that ExxonMobil or InterOil believe will ultimately be produced but that are not yet classified as "proved reserves" under U.S. SEC definitions. 
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with ExxonMobil will occur. The ExxonMobil transaction is subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met.
SOURCE InterOil Corporation

Article Date
10/10/2016
Close
9/21/2016 - InterOil Shareholders Overwhelmingly Approve ExxonMobil Transaction
X
InterOil Shareholders Overwhelmingly Approve ExxonMobil Transaction
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SINGAPORE and PORT MORESBY, Papua New Guinea, Sept. 21, 2016 /PRNewswire/ -- InterOil Corporation (NYSE: IOC; POMSoX: IOC) today announced that at a Special Meeting held today, its shareholders overwhelmingly voted to approve the transaction with Exxon Mobil Corporation (NYSE: XOM). Of the votes cast at the Special Meeting, more than 80 percent were in favor of the proposed transaction.
"I would like to thank our shareholders for their overwhelming support for this value-creating transaction," said InterOil Chairman Chris Finlayson. "This transaction delivers shareholders a material and immediate premium, a potential direct cash payment based on the Elk-Antelope resource certification and exposure to future value through ownership of ExxonMobil shares. We look forward to continuing to work with ExxonMobil to satisfy the last required conditions and to completing the transaction promptly."
The transaction is expected to close by the end of September 2016.  InterOil intends to seek a final order with respect to the plan of arrangement at a hearing in the Supreme Court of Yukon, which is scheduled for September 27, 2016.
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000sqkm. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
Singapore	United States
Ann Lee Communications Specialist	James Golden / Aaron Palash Joele Frank, Wilkinson Brimmer Katcher
T: +65 6507 0222 E: ann.lee@interoil.com	T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This communication includes "forward-looking statements". All statements, other than statements of historical facts, included in this communication are forward-looking statements.  Such forward-looking statements may include, without limitation, statements regarding the pending transaction with ExxonMobil, the timing to consummate the proposed transaction with ExxonMobil, the ability to satisfy the conditions to consummation of the proposed transaction, and the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the CRP.  These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil.  No assurances can be given however, that these events will occur.  Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular assumptions, risks and uncertainties relating to the receipt of a final order from the Yukon court with respect to the transaction, the risk that a condition to closing of the proposed acquisition may not be satisfied, the risk that required approval for the proposed acquisition is not obtained or is obtained subject to conditions that are not anticipated, the timing or outcome of the resource certification process for the Elk-Antelope field as applicable to the CRP and other risk factors discussed in InterOil's management information circular dated August 16, 2016, its annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015, and under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws. References to gas resources in this release may include amounts that ExxonMobil or InterOil believe will ultimately be produced but that are not yet classified as "proved reserves" under U.S. SEC definitions. 
Legal Notice
None of the securities anticipated to be issued pursuant to the ExxonMobil transaction have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the ExxonMobil transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This document does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with ExxonMobil will occur. The ExxonMobil transaction is subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met. 
SOURCE InterOil Corporation

Article Date
9/21/2016
Close
7/21/2016 - ExxonMobil to Acquire InterOil in Transaction Worth More Than $2.5 Billion
X
ExxonMobil to Acquire InterOil in Transaction Worth More Than $2.5 Billion
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
IRVING, Texas, SINGAPORE and PORT MORESBY, Papua New Guinea, July 21, 2016 /PRNewswire/ --
• ExxonMobil to pay $45 per share plus additional cash payment based on Elk-Antelope resource size
• Boards of directors of both companies unanimously approve terms of agreement
• Acquisition adds to ExxonMobil resources in successful Papua New Guinea business
• Oil Search transaction terminated
Exxon Mobil Corporation (NYSE: XOM) and InterOil Corporation (NYSE: IOC, POMSox: IOC) today announced an agreed transaction worth more than $2.5 billion, under which ExxonMobil will acquire all of the outstanding shares of InterOil (the ExxonMobil Transaction).
"This agreement will enable ExxonMobil to create value for the shareholders of both companies and the people of Papua New Guinea," said Rex W. Tillerson, chairman and chief executive of Exxon Mobil Corporation.
"InterOil's resources will enhance ExxonMobil's already successful business in Papua New Guinea and bolster the company's strong position in liquefied natural gas."
InterOil Chairman Chris Finlayson, said, "Our board of directors thoroughly reviewed the ExxonMobil transaction and concluded that it delivers superior value to InterOil shareholders.  They will also benefit from their interest in ExxonMobil's diverse asset base and dividend stream."
Under the terms of the agreement with ExxonMobil, InterOil shareholders will receive:
• A payment of $45.00 per share of InterOil, paid in ExxonMobil shares, at closing. The number of ExxonMobil shares paid per share of InterOil will be calculated based on the volume weighted average price (VWAP) of ExxonMobil shares over a measuring period of 10 days ending shortly before the closing date (Share Consideration).
• A Contingent Resource Payment (CRP), which will be an additional cash payment of $7.07 per share for each trillion cubic feet equivalent (tcfe) gross resource certification of the Elk-Antelope field above 6.2 tcfe, up to a maximum of 10 tcfe. The CRP will be paid on the completion of the interim certification process in accordance with the Share Purchase Agreement with Total SA, which will include the Antelope-7 appraisal well, scheduled to be drilled later in 2016. The CRP will not be transferrable and will not be listed on any exchange.
Together the Share Consideration and the CRP represent a material premium to the closing price of InterOil shares on May 19, 2016 -- the day prior to the announcement of the Oil Search transaction -- based on a range of Elk-Antelope resource estimates:
Tcfe	6.2				7.0		8.0		9.0		10.0
	(Base Volume)										(Cap)
Share Consideration Value	$ 45.00				$ 45.00		$ 45.00		$ 45.00		$ 45.00
CRP - Potential Value1	$ 0.00				$ 5.66		$ 12.73		$ 19.80		$ 26.87
Aggregate Consideration (US$/share)	$ 45.00				$ 50.66		$ 57.73		$ 64.80		$ 71.87
Premium to May 19 close2	42.2 %				60.1 %		82.4 %		104.7 %		127.1 %
Premium to 1-month VWAP3	41.2 %				58.9 %		81.1 %		103.2 %		125.4 %
Premium to 3-month VWAP4	48.2 %				66.8 %		90.1 %		113.4 %		136.6 %
1 Represents potential future payment at given certified resource level; not discounted to present value. 2 Based on InterOil's closing price of US$31.65 per share as of May 19, 2016, prior to announcement of the Oil Search transaction. 3 Based on InterOil's 1-month VWAP up to and including May 19, 2016 of US$31.88 per share. 4 Based on InterOil's 3-month VWAP up to and including May 19, 2016 of US$30.37 per share.
Compelling Benefits of the Transaction
When concluded, this transaction will give ExxonMobil access to InterOil's resource base, which includes interests in six licenses in Papua New Guinea covering about four million acres, including PRL 15. The Elk-Antelope field in PRL 15 is the anchor field for the proposed Papua LNG project.
ExxonMobil's more than 40 years of experience in the global LNG business enables it to efficiently link complex elements such as resource development, pipelines, liquefaction plants, shipping and regasification terminals, which it has demonstrated through the PNG LNG project, working closely with co-venturers, national, provincial and local governments, and local communities. ExxonMobil will bring to bear its industry-leading performance and strong commitment to excellence as it grows its business in Papua New Guinea.
The PNG LNG project, the first of its kind in the country, was developed by ExxonMobil in challenging conditions on budget and ahead of schedule and is now exceeding production design capacity, demonstrating the company's leadership in project management and operations.
ExxonMobil will work with co-venturers and the government to evaluate processing of gas from the Elk-Antelope field by expanding the PNG LNG project. This would take advantage of synergies offered by expansion of an existing project to realize time and cost reductions that would benefit the PNG Treasury, the government's holding in Oil Search, other shareholders and landowners.
Path to Completion
The ExxonMobil Transaction has been unanimously approved by the boards of both companies. The InterOil board unanimously recommends that InterOil shareholders approve the ExxonMobil Transaction.  
The ExxonMobil Transaction will be implemented by way of a court-approved plan of arrangement under the Business Corporations Act (Yukon) and will require the approval of at least 66 2/3 percent of the votes cast by InterOil shareholders at a special meeting expected to take place in September, 2016.
In addition to InterOil shareholder and court approvals, the ExxonMobil Transaction is also subject to other customary conditions. Subject to obtaining the aforementioned approvals and satisfaction of closing conditions, the ExxonMobil Transaction is expected to close in September, 2016.
Further information regarding the transaction with ExxonMobil will be included in an information circular, which will be mailed to InterOil shareholders in due course. Copies of the key transaction documents for the ExxonMobil Transaction (being the arrangement agreement and the information circular) will be available online under InterOil's corporate profile at www.sedar.com.
Oil Search Transaction
The InterOil board of directors, in consultation with its independent legal and financial advisors, determined that the ExxonMobil Transaction is superior to the previously announced transaction with Oil Search Limited (ASX:OSH, POMSoX: OSH) and so advised Oil Search on July 18, 2016. Immediately prior to entering into the arrangement agreement with ExxonMobil, InterOil terminated its previously announced arrangement agreement with Oil Search, and ExxonMobil is paying Oil Search the termination fee in accordance with the requirements of the Oil Search arrangement agreement on behalf of InterOil. The previously scheduled Special Meeting of Shareholders to vote for the approval of the Oil Search transaction has been cancelled.
Advisers
Davis Polk & Wardwell LLP and Blake, Cassels & Graydon LLP served as legal advisers to
ExxonMobil in relation to the ExxonMobil Transaction.
Credit Suisse (Australia) Limited, Morgan Stanley & Co. LLC and UBS served as financial advisers to InterOil in relation to the ExxonMobil Transaction, and Wachtell, Lipton, Rosen & Katz and Goodmans served as its legal advisers. Morgan Stanley & Co. LLC provided the InterOil board with a Fairness Opinion.
About ExxonMobil
ExxonMobil, the largest publicly traded international oil and gas company, uses technology and innovation to help meet the world's growing energy needs. ExxonMobil holds an industry-leading inventory of resources and is one of the world's largest integrated refiners, marketers of petroleum products and chemical manufacturers. For more information, visit www.exxonmobil.com or follow us on Twitter www.twitter.com/exxonmobil.
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses covering about 16,000 square kilometers. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Contacts:
For InterOil:
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
Singapore	United States
Ann Lee Communications Specialist	James Golden/ Aaron Palash Joele Frank, Wilkinson Brimmer Katcher
T: +65 6507 0222 E: ann.lee@interoil.com	T: +1 212 355 4449 E: ioc-jf@joelefrank.com
For ExxonMobil:


ExxonMobil Media Relations

T: +1-972-444-1107

E: media@exxonmobil.com
Cautionary Statement Regarding Forward-Looking Statements
Statements in this release relating to future plans, projections, events or conditions are forward-looking statements. Actual results could differ materially as a result of a variety of risks and uncertainties, including: the timing to consummate the proposed acquisition; the risk that a condition to closing of the proposed acquisition may not be satisfied; the risk that a regulatory or other required approval for the proposed acquisition is not obtained or is obtained subject to conditions that are not anticipated; and the outcome of the resource certification process for the Elk-Antelope field as applicable to the Contingent Resource Payment. Other factors that could materially affect ExxonMobil's future project plans, timing and results relating to the acquisition  include: changes in long-term oil or gas prices or other market or economic conditions affecting the oil and gas industry; completion of development projects as planned; unforeseen technical difficulties; political events or disturbances; reservoir performance; the outcome of commercial negotiations; wars and acts of terrorism or sabotage; changes in technical or operating conditions; and other factors discussed under the heading "Factors Affecting Future Results" available through the "Investors" section on ExxonMobil's website and in Item 1A of ExxonMobil's 2015 Form 10-K. No assurances can be given that any of the events anticipated by the forward-looking statements will occur, or if any of them do what impact they will have on the future results of operations or financial condition of ExxonMobil. Neither ExxonMobil nor InterOil assumes any duty to update these statements as of any future date. References to gas resources in this release may include amounts that ExxonMobil or InterOil believe will ultimately be produced but that are not yet classified as "proved reserves" under U.S. SEC definitions.
Legal Notice
None of the securities anticipated to be issued pursuant to the arrangement agreement for the ExxonMobil Transaction have been or will be registered under the United States Securities Act of 1933, as amended (U.S. Securities Act), or any state securities laws, and any securities issued in the acquisition are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation or an offer to buy any securities.
SOURCE InterOil Corporation

Article Date
7/21/2016
Close
7/18/2016 - InterOil Board of Directors Determines Unsolicited ExxonMobil Proposal Constitutes a Superior Proposal to Oil Search Transaction
X
InterOil Board of Directors Determines Unsolicited ExxonMobil Proposal Constitutes a Superior Proposal to Oil Search Transaction
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
SINGAPORE and PORT MORESBY, Papua New Guinea, July 17, 2016 /PRNewswire/ -- InterOil Corporation (the "Company") (NYSE: IOC; POMSoX: IOC) announced today that the unsolicited proposal to acquire InterOil, the receipt of which was publicly announced by InterOil on June 30, 2016, was made by Exxon Mobil Corporation (NYSE: XOM) ("ExxonMobil") (the "ExxonMobil Offer"). The Company's Board of Directors, in consultation with its legal and financial advisors, has determined that the ExxonMobil Offer constitutes a "Superior Proposal," as defined in InterOil's arrangement agreement ("Oil Search Agreement") with Oil Search Limited (ASX:OSH, POMSoX: OSH) ("Oil Search") and InterOil has provided notice of such determination to Oil Search.
Under the terms of the ExxonMobil Offer, InterOil shareholders would receive:
• A payment of $45.00 per share of InterOil, paid in ExxonMobil shares. The number of ExxonMobil shares paid per share of InterOil would be calculated based on the volume weighted average price of ExxonMobil shares over a measuring period of ten days ending shortly before the closing date.
• A Contingent Resource Payment ("CRP"), which would be an additional cash payment of approximately $7.07 per share for each tcfe gross resource certification of the Elk-Antelope field above 6.2 tcfe, up to a maximum of 10 tcfe. The CRP would be paid on the completion of the interim certification process in accordance with the Share Purchase Agreement with Total SA, which would include the Antelope-7 appraisal well. The CRP would not be transferrable and would not be listed on any stock exchange.
Under the terms of the Oil Search Agreement, Oil Search has a period of three calendar days, which will expire on July 21, 2016 (the "Response Period"), during which it can offer to amend the terms of the Oil Search Agreement. Oil Search is under no obligation to make such an offer and InterOil does not know if Oil Search will seek to amend the Oil Search Agreement. The InterOil Board of Directors continues to recommend the Oil Search transaction to its shareholders.
InterOil notes that there can be no assurance that the ExxonMobil Offer will lead to the termination of the Oil Search Agreement and the execution of an arrangement agreement with ExxonMobil, or that the transaction contemplated by the ExxonMobil Offer will be approved by shareholders or consummated.  
About InterOil
InterOil Corporation is an independent oil and gas business with a sole focus on Papua New Guinea. InterOil's assets include one of Asia's largest undeveloped gas fields, Elk-Antelope, in the Gulf Province, and exploration licenses, all covering about 16,000km2. Its main offices are in Singapore and Port Moresby. InterOil is listed on the New York and Port Moresby stock exchanges.
Investor Contacts
Singapore	United States
David Wu Senior Vice President Investor Relations	Cynthia Black Investor Relations North America
T: +65 6507 0222 E: david.wu@interoil.com	T: +1 212 653 9778 E: cynthia.black@interoil.com
Media Contacts
Singapore	United States
Ann Lee Communications Specialist	James Golden/ Aaron Palash Joele Frank, Wilkinson Brimmer Katcher
T: +65 6507 0222 E: ann.lee@interoil.com	T: +1 212 355 4449 E: ioc-jf@joelefrank.com
Forward Looking Statements
This release includes "forward-looking statements". All statements, other than statements of historical facts, included in this release are forward-looking statements.  Such forward-looking statements may include, without limitation, statements regarding the ExxonMobil Offer. These statements are based on the current belief of InterOil, as well as assumptions made by, and information currently available to InterOil.  No assurances can be given however, that these events will occur.  Actual results could differ, and the difference may be material and adverse to the combined company and its shareholders.  Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of InterOil, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include in particular information and statements relating to the Oil Search Agreement, including but not limited to the size or timing of any payment under the  contingent value right contemplated by the Oil Search Agreement , any future performance of InterOil or Oil Search, the ability to satisfy the conditions to closing of the Oil Search transaction, either on the expected timeline or at all, the future trading price of InterOil or Oil Search securities, the ability to integrate the businesses of InterOil and Oil Search, the outcome of the unsolicited ExxonMobil Offer, and those factors in InterOil's management information circular dated June 24, 2016, its annual report for the year ended December 31, 2015 on Form 40-F and its Annual Information Form for the year ended December 31, 2015. InterOil disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.
Legal Notice
None of the securities anticipated to be issued pursuant to the Oil Search Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and any securities issued pursuant to the Oil Search Agreement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
There can be no assurance that the transaction with Oil Search will occur. The transactions contemplated by the Oil Search Agreement are subject to certain approvals and the fulfillment of certain conditions, and there can be no assurance that any such approvals will be obtained and/or any such conditions will be met. Further details regarding the terms of the transaction are set out in the Oil Search Agreement and are provided in InterOil's management information circular dated June 24, 2016, each of which is available under the profile of InterOil Corporation at www.sedar.com.
SOURCE InterOil Corporation

Article Date
7/18/2016
Close
5/12/2016 - ExxonMobil Settles Negligence Lawsuits Over Deadly Texas Refinery Blast
X
ExxonMobil Settles Negligence Lawsuits Over Deadly Texas Refinery Blast
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
BEAUMONT, Texas, May 12, 2016 /PRNewswire/ -- More than three years after a deadly explosion at its Beaumont, Texas, refinery, ExxonMobil Corp. (NYSE: XOM) has settled negligence lawsuits filed by the parents of two workers who were killed and six others who were injured in the April 17, 2013 blast.
A court order signed May 10, 2016 resolves claims filed by the parents of the deceased and injured workers, attorneys with Beaumont-based Provost Umphrey Law Firm, LLP, announced. The initial lawsuits were filed following the explosion and fire that occurred at a heat exchanger unit inside the ExxonMobil refinery. The injured workers and families of those who died argued that ExxonMobil did not take reasonable steps to warn the workers of the presence of hydrocarbons, inspect the equipment or adequately maintain the premises given the dangerous conditions that were present at the plant, which processes 344,500 barrels of oil a day. 
"As a lifelong resident of the Southeast Texas community, I am no stranger to learning that many hardworking people are injured and killed while working within the refining industry. There are many products that could lead to dangerous and fatal conditions for all of the workers and the community as well, which is one reason that safety must be a top priority," says Provost Umphrey lead attorney James E. Payne.
"This was a horrific tragedy that has devastated all of the families involved," says Provost Umphrey attorney Matthew Matheny.  "While the terms of the settlement are confidential, the families are pleased to have the litigation resolved although injuries sustained will continue for a lifetime."
Founded in 1969, Provost Umphrey is well-known for representing plaintiffs in cases involving serious personal injury and wrongful death; motor vehicle and aviation accidents; worksite injuries; chemical exposure and toxic torts; dangerous pharmaceutical drugs; complex business disputes; high-stakes insurance claims; and wage-and-hour employment issues.  To learn more about the firm, visit: http://www.provostumphrey.com. 
For more information, contact Robert Tharp at 800-559-4534 or Robert@androvett.com.
 
SOURCE Provost Umphrey

Article Date
5/12/2016
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Whiptail FPSO (subscriber access)
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