April 30, 2012 3:06 PM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Morgan Stanley has published a research report on InterOil Corporation (NYSE: IOC) after the company's sell-down today.In the report, Morgan Stanley writes, "Today's sell-down relates to PL237, including the recent T-2 discovery, as the Elk/Antelope sell-down continues. The sell-down is important to IOC for three reasons: (1) it establishes the value of IOC's upstream resource in Block PPL237 at potential value over 4x what is currently implied by the share prices for Elk/Antelope resource, (2) solves potential funding gap in 2012 (cash/carry), and (3) provides leverage in on-going sell-down and operator-ship negotiations. Today's sale price will be $2.65/mcfe for 2C resource after final appraisal is complete, above the $2.41 implied by the Mitsui off-take in 2010 for Elk/Antelope, which compares with the implied price for resource in IOC shares estimated at $0.51/mcfe (IOC current 2C gas resource (9.4Tcfe *58.6%) /public market cap as of Friday ($2.8Bn))."Morgan Stanley is currently Not Rated on InterOil, which is currently trading up $2.08 from Friday's $58.35 closing price.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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