InterOil will release quarterly earnings after the market's close today, but the results will hold little value for this Papua New Guinea oil and gas firm. Investors need to pay attention to management's discussions and analysis to see if more light can be shed on a possible joint venture with Shell and if a potential timeline can be estimated for the rumored deal. InterOil's bright future lies in the details, and if a deal can be made, the company should be a strong performer going forward.
If InterOil and Shell reach a deal, allowing the JV to produce highly sought liquefied natural gas, the company will make a significant economic profit. However, there are other undervalued stocks, and as oil prices inch higher, these companies will be on their way to returning healthy profits to their shareholders. If you're on the lookout for some intriguing energy plays, check out The Motley Fool's 3 Stocks for $100 Oil. You can get free access to this special report by clicking here.