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DewDiligence

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DewDiligence

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Re: OakesCS post# 2135

Tuesday, 02/22/2011 4:28:49 PM

Tuesday, February 22, 2011 4:28:49 PM

Post# of 29411
Guilt by association? HES (80.76) was down 5% today despite the fact that its production in Libya is de minimis: about 20k boe/d from a JV where HES has an 8% equity interest. (HES does have significant reserves in Libya, but they are offshore and not yet in production.)

By comparison, CVX, which has no operations in Libya, finished 1.6% higher in trading today.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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