Comments on: InterOil Corporation (NYSE: IOC): Possible Fraud?

By: InterOil Update «

InterOil Update « — Sat, 27 Mar 2010 15:16:15 +0000

[...] March 27, 2010 · Leave a Comment We have been short on InterOil Corp. (IOC) for some time now, mainly because we believe that the company exhibits characteristics of a company which has been involved in fraud (See our original post HERE) [...]

By: shaun noll

shaun noll — Wed, 27 Jan 2010 00:28:44 +0000

Minkow’s history is totally irrelevant in this case…. who cares. Each investor does their own homework. Mikow has certainly uncovered some real frauds anyway….

By: shaun noll

shaun noll — Tue, 26 Jan 2010 15:52:32 +0000

NICE, very happy to see you taking a swing at shorting.
be careful though, shorting is not the opposite of going long, it requires comfort trading on pure technicals to avoid drawdowns. I’m sure you know this but thought I’d point it out in case someone else is piggybacking your ideas. Check out WRLD also from Citron’s site, I double checked all his work and it all checks out. Company is S C R E W E D for sure.

By: ArtM72

ArtM72 — Tue, 26 Jan 2010 13:54:42 +0000

Minkow is a fraud as well as a convicted felon.

The statement ‘not one pint of oil’ belies the 20 bbl condensate/1MM cu ft of oil in the latest of two gas wells in the Antelope formation which each set world record production rates, the second being a witnessed flow rate test of 703 mmcf/day.

Antelope 2 drilling is now continuing down into the projected oil bearing formation.

Applying traditional accounting measures developed for mature businesses against a company such as Inter Oil is nonsense.

By: Chris

Chris — Tue, 26 Jan 2010 04:25:06 +0000

I believe you made a small typo in your Beneish model calculations–AQI should be 1.0073, not 1.073. This does not change the resulting M-score enough to alter its conclusion (it drops to -2.048), but just thought I’d drop a friendly FYI.

Side note: great blog, solid insight–thanks for your hard work.