Market Chatter: InterOil Up 2% Amid Reports of Pertamina Bid for Papua New Guinea Assets

InterOil ( IOC ) shares are up more than 2%, continuing a rally that has lifted the stock by almost 20% over the past five days, amid reports that Indonesia's Pertamina has made a bit for its Elk-Antelope discoveries in Papua New Guinea.

Whether the bid is for an operating or smaller stake is not known, the PNGIndustry News reported.

Bloomberg News reported earlier this week that InterOil was in final stage of talks with major oil producers and a national oil company for a "multi-billion dollar" partnership, without naming Pertamina.

InterOil trades in a 52-week range of $50.90 - $99.05.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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