InterOil to buy back $50M of Class A common shares InterOil will buy up to $50M of its own Class A common shares within the next 12 months. The InterOil board has authorised the buy-back to be done periodically on the open market, based on the stock price and other market factors.
InterOil says flow testing at Elk-Antelope gas field begun InterOil Corporation announced it has begun flow testing at the Elk-Antelope gas field in Papua New Guinea as part of the field appraisal. The Antelope-5 flow rate is constrained by reservoir engineers to a maximum test rate of about 70 million standard cubic feet a day. The joint venture is finalizing plans for field testing, including drilling another well, Antelope-6, to define the eastern flank of the reservoir.