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.
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visit:http://www.prnewswire.com/news-releases/interoil-provides-update-on-exxonmobil-transaction-300341708.html
SOURCE InterOil Corporation