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oando offshore deal
http://www.rigzone.com/news/article.asp?a_id=81291
up next- poo $100
http://www.energytribune.com/articles.cfm?aid=2489
someone needed $120 to pay the rent
the ten top china oil acquisitions in 2009
go ahead, guess what was number one
http://www.reuters.com/article/marketsNews/idAFSP40917120091023?rpc=44
wild bidding for kosmos stake- now bp wants it
the future of erhe??
http://www.rigzone.com/news/article.asp?a_id=81702
china buy ins stifled
http://www.rigzone.com/news/article.asp?a_id=81663
nh
thanks- i agree
xom will probably do more and anadarko is a likely takeover target
wow!! another jv- this one between afren and a japanese co
looks like everybody wants a piece of african oil
http://www.rigzone.com/news/article.asp?a_id=67652
my prior post wasn't clear
offor is using erhe as a bargaining chip
he would sell erhe at an agreed price with snp and in return, wants a mou between snp and chrome
thus he would become a legitimate player in international oil
offor may be holding out for a mou with snp
http://www.rigzone.com/news/article.asp?a_id=81532
kinda looks like the US, china, and russia are all fighting for nigerian oil- looks like balance is right- erhe won't last long in this environment
gazprom moves into nigeria
http://www.rigzone.com/news/article.asp?a_id=81532
cnooc, snp getting antsy- want more african oil
http://www.bloomberg.com/apps/news?pid=20601072&sid=auIMryKSGoFE
the rigzone article is primarily about rigs- they don't offer new info about kina........
The Kina prospect is on Block 4 in the Gulf of Guinea on the Nigeria Sao Tome and Principe Joint Development Zone (JDZ). Kina was the first location drilled in Block 4 of the JDZ, which covers 857 sq km in about 2,000 m of water. It is estimated to contain 458 MMbbl.
The Deepwater Pathfinder's contract terminates at the end of November. Lukoil has the following contract for the drillship at $630,000/day commencing Dec. 1, 2009 and ending Jan. 20, 2010
nice article in rigzone on kina- scroll down
http://www.rigzone.com/news/article.asp?a_id=81511
cnooc moves into nigeria
possible bidder for erhe??
http://www.rigzone.com/news/article.asp?a_id=80825
anadarko finds more oil offshore west africa
http://finance.yahoo.com/news/Anadarkos-West-African-zacks-835663911.html?x=0&.v=1
right emdyal
and oil production may lag
http://www.theoildrum.com/node/5863#more
badiali on oil mergers
If you have any doubt about the direction oil prices are headed, just take a look at ExxonMobil's latest deal. The world's largest oil company spent $4 billion to buy a 23.5% stake in the Jubilee field offshore of Ghana in West Africa. The companies developing Jubilee – Tullow and Anadarko – estimate the field will cost $4 billion to complete. That puts Exxon on the hook for at least another billion – reflecting its one-quarter stake in the project.
All told, Exxon will sink $5 billion into a field currently expected to produce between 600 million and 2 billion barrels of oil. Even at 2 billion barrels, Exxon's share is just 500 million barrels. That means it's paying $10 per barrel for that oil. If Jubilee yields just 600 million barrels, Exxon's paying $30 per barrel.
That's an astounding price for Exxon to pay for new oil. Over the past three years, the company has spent on average less than $1 per barrel to buy oil in the ground. Now, the company is going to pay at least 10 times that much on a single deposit. Clearly, Exxon either thinks Jubilee is much larger or it believes oil prices will average higher over the next few years.
mrogop
yes cash and stock are possibilities- Offor may want both and may want some partnership deal between snp and chrome
hey balance- you're welcome
my contribution is miniscule compared with your brilliant and frequent analyses
right cayman re: snp dilution
i still wouldn't mind taking snp shares if a buyout occurs
snp looking for $600 billion- wow!!
offer for erhe??
Sinopec (SNP) will be allowed to float CNY 646.8billion worth of stocks on Oct. 12. That is, it will increase its current A-share Outstanding by 444.81%. China National Petroleum, the largest shareholder of Sinopec that holds 75.84% of Sinopec’s Market values, will be allowed to trade these unrestricted shares freely.
china and oil- good review
http://www.financialsense.com/editorials/powers/2009/1008.html
bought more- some at 63.5, the rest at 64- i'm really surprised that i could get a bargain like this after great drill results- oh well, that's the market for you
mz
they can't lie about everything- they have a contract with the jdz after all
they can however minimize things by saying." we have to anaylze the data, and that's gonna take a long time."
mz
sinopec doesn't want a lot of competition for the jdz blocks
cnooc just put in a $30 billion bid for nigerian oil assets and xom just bought out 30% of a ghana block for $4 billion
also petrobas, cvx and shell are roaming around - everybody has a lot of cash and everybody wants more oil
re: block 2
hydrocarbons have been found in block 1 and block 4
sinopec is being silly only mentioning gas found in block 2
their report is deliberately misleading
bought more at 70.5
cnooc wants 6 billion barrels of nigerian oil
http://www.ft.com/cms/s/0/9d714f96-ac60-11de-a754-00144feabdc0.html?nclick_check=1
addax is officially gone- wave goodbye
http://www.rigzone.com/news/article.asp?a_id=81087
exxon buys out kosmos in ghana
see how easy that was??
http://www.reuters.com/article/marketsNews/idAFWLA503820091006?rpc=44
erhe is down- it's siempre's fault
erhe is slowly sinking... -- Nuclearson -- siempre33, 14:24:35 10/02/09 Fri
they say that 98% of genius is timing....
I just bought @ .70....guess my genius is slipping
kownski- thanks- i guess these china cos got me confused- an $80 billion market cap is much better- now the deal can be done
the $30 billion went to petrochina not to sinopec
shi has a market cap of $2.9 billion
how are they going to come up with $10/share for erhe's 700 million shares??
http://finance.yahoo.com/q/ks?s=SHI
sinopec not allowed to bid in iraq
http://www.rigzone.com/news/article.asp?a_id=80892
erhe up 3 cents- volume 39,000