DRILLING

InterOil looks to raise cash for PNG exploration program

Canadian-based, PNG-focused InterOil Corporation is looking to raise $C9,800,00 ($10,780,000) with a private placement of 700,000 common shares at $C14.00.

InterOil looks to raise cash for PNG exploration program

The funds raised will be used to fund exploration drilling of a multi-well program in Papua New Guinea starting with the Moose Prospect and for general corporate purposes.

InterOil has appointed Westwind Partners and Jennings Capital Inc to act as co-managers of a syndicate for the placement.

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