InterOil board under pump amid $242m loss

INTEROIL founder and shareholder Phil Mulacek wants the Papua New Guinea-focused oiler's board slashed and shareholders given power of veto over deals amid speculation of a possible takeover as the company turned a $289.8 million FY2014 profit into a $241.9 million loss for FY2015.

InterOil board under pump amid $242m loss InterOil board under pump amid $242m loss InterOil board under pump amid $242m loss InterOil board under pump amid $242m loss InterOil board under pump amid $242m loss

Earlier this month InterOil's shares surged almost 9% in trade, seemingly on the back of a routine drilling announcement. Market scuttlebutt told a different tale though.

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