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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: carl a. mehr who wrote (91148)	9/26/2007 3:16:05 PM
From: carl a. mehr	Read Replies (1) of 206286

IOC looks interesting. businessweek.com Oil moguL T. Boone Pickens may still have the Midas touch. A week after he disclosed a 9.9% stake in InterOil (IOC ), the stock gushed from 28 on Aug. 8 to 40.75 on Aug. 13, the day the oil-and-gas explorer disclosed it found evidence of oil in its Elk-2 well in Papua New Guinea. Pickens didn't return calls. The latest drilling update on Elk-2 included data that gives a "very bullish picture of the prospects," says Wayne Andrews of Raymond James Financial (RJF ), who rates the stock a strong buy. Additional tests are being done on Elk-2, which he expects will show positive data in October. InterOil is building a fully integrated energy business in Papua. It operates the only refinery, owns a network of gas stations, and is exploring for oil in an 8.8 million-acre area. Based on its cash flow, Andrews expects InterOil to be in the black by 2008. Lot of shorts out there. A 44% short of float. Down more than 3% today at 32.4. I wonder what T. Boone Pickens paid? Any comments?...carlmehr

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