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DewDiligence

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DewDiligence

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Re: DewDiligence post# 6793

Monday, 04/01/2013 2:59:04 PM

Monday, April 01, 2013 2:59:04 PM

Post# of 30494
HES (74.09, +3.4%) bags $2.05B ($1.8B after taxes) on sale of Russian assets to Lukoil:

http://finance.yahoo.com/news/hess-announces-sale-interest-russia-142500413.html

The sale, which will lower HES’ production by about 45K boe/d, is consistent with the previously announced plan to divest non-core assets.

The stock is up today because most investors probably didn’t realize HES’ Russian assets were worth north of $2B.

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

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