possible players
posted on
Oct 15, 2009 04:06PM
Edit this title from the Fast Facts Section
I totally agree that any possible JVP's will have deep pockets. Here are my top 3,
1. Exxon
I read an article about a year ago regarding a speech made by a decendent of John Rockafeller who sits on the Exxon board of directors. The article states it was VERY surprising as this person had NEVER made a speech at a board meeting before. He stated that he was worried about the downward trend of Exxon's reserves and that the company should consider a 'new' direction to reverse that trend to enhance the companies position and strength long term. Well ... Exxon just completed a 4 billion dollar deal to buy a stake in an oil field off Ghana(Africa). It looks like their adopting this new direction and cgx is on their list !
2. Tullow
Tullow does have deep pockets and is already involved in the area. I believe they aware of cgx's potential and are looking to increase that involvement.
3. Petro china
Maybe an underdog but I have been reading alot about this company. They have been given a STRONG directive from the Chinese government to increase its holding because of the ever increasing demand they have. They imported ALOT of oil last year and the government does not want this trend to continue. They have billions to make this directive happen and have already started in Canada with the oil sands.
Just my 3 top players IMHO
Cgx could not be in a better position at this time to entertain offers for a JVP. The potential they have, further proven by the 3d along with the price of oil now at $77 ... all this means exciting times for shareholders !!