Best Stocks for 2008: A petroleum play at InterOil Corp. (IOL)

December 29th, 2007 | Category: Stocks to Buy, Commodities, Canada, Best Stocks for 2008

For 25 years, Steven Halpern, editor of TheStockAdvisors.com, has surveyed the main financial newsletter advisors asking for their favorite stocks for the coming year. that spread is one of 100+ ideas in the Best Stocks for 2008 report.

“My favorite speculative choice for 2008 is InterOil Corp. (Toronto: IOL),” says Yola Edwards, editor of the technically oriented Yola Edward’s Charts.

“The company is a junior exploration company involved in liquified natural gas. InterOil has partnered with Merrill Lynch Commodities, Inc. to develop a project in Papua New Guinea.

“InterOil’s assets consist of petroleum licenses covering about 9 million acres,

an oil refinery, and retail and commercial distribution facilities in Papua New Guinea. During 2006, the company announced a gas and condensate discovery, and doubled the downstream commerce by acquiring Shell’s distribution assets in Papua New Guinea.

“The company announced a net loss of $17.9 million, or 60 cents per share (diluted), for the third quarter of 2007, compared with $7.3 million net loss or 25 cents per share (diluted) in the third quarter of 2006.

Continue reading Best Stocks for 2008: A petroleum play at InterOil Corp. (IOL)

Original post by Steven Halpern

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