While management has been cagey about who has actually bid — there’s seems to be an excess amount of parsing necessary when wading through management pronouncements — at least one observer believes Royal Dutch Shell plc (ADR) (NYSE:RDS.A) is the winner, and that was enough to send the stock hopping 8% higher yesterday.
The folks at UpstreamOnline speculate that Shell has been chosen as the partner and the two are completing details. It wouldn’t be out of the realm of possibility, since Shell has previously talked about buying into InterOil Corporation (USA) (NYSE:IOC), though nothing ever came of it. Shell’s domestic upstream business has been struggling of late, and soft oil prices are contributing to its woes that have seen its shares pull back 10% from recent highs. The InterOil Corporation (USA) (NYSE:IOC) PNG prospects look sure enough that partnering with the upstart might give it the sort of momentum that analysts allege has stalled.
Of course, when it comes to InterOil Corporation (USA) (NYSE:IOC), investors have been disappointed enough times to know better than to count their chickens early, and speculation by one website, while encouraging, is hardly conclusive. I think investors would be better served simply by waiting and watching.
The article Hope’s High with Home Depot Stock and These 2 Other Companies originally appeared on Fool.com and is written by Rich Duprey.
Fool contributor Rich Duprey owns shares of General Electric. The Motley Fool recommends Home Depot and The Active Network and owns shares of General Electric.
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