Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of energy explorer InterOil (NYSE: IOC ) jumped 18% today after the company reported earnings.
So what: Third-quarter revenue dropped 6.6% to $305.2 million and the company swung to a net loss of $6.3 million, or $0.13 per share. Management also announced a $250 million secured syndicated capital expenditure facility, which will fund the company until it can complete asset sales.
Now what: The loan is a lifeline that will keep InterOil afloat until assets in Papua New Guinea are up and running or other asset sales are completed. The company is making progress in Papua New Guinea, announcing a seismic data acquisition and drilling program that will drill six wells in the area. This has been a high-potential stock for a long time, but with the loss last quarter and many unknowns in the future it's too risky for me to bet on right now.
There are safer bets in energy
InterOil may be high risk, but there are companies that play a vital role in the energy industry. The Motley Fool's chief investment officer has hand-picked one such opportunity in our new report: "The Motley Fool's Top Stock for 2013." To find out which stock it is and read our in-depth report, simply click here. It's free!