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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Ox who wrote (73200)9/12/2000 10:44:02 PM
From: Tomas  Read Replies (3) of 95453
 
TLM is one of the best laggards of all IMHO. Sudan is their most profitable asset (per barrel of oil produced), and it has the greatest exploration potential.

Talisman could leave Sudan with a fat profit. Its oil finding and development costs are estimated at $2.50 (U.S.) a barrel and selling at more than double that price is achievable. The French are potential buyers, TotalFinaElf would gladly take Talisman's stake.

But Talisman will probably stay in Sudan for the long haul. Martin Molyneaux of FirstEnergy Capital in Calgary (more than once ranked the top oil equity analyst in Canada) talked earlier this year to between 30 and 40 of Talisman's institutional investors and found that more than 90% want the company to keep its Sudan operations.

Investing in Sudan is no more or less morally reprehensible than investing in any of the dozens of other third world countries mired in civil war, human rights abuses and starvation.

Why is Sudan being singled out? My answer is: The American religious right and militant missionary groups are touting Sudan as the front line between Islam and Christianity.

The groups targeting Talisman seem to suggest that if only it were to leave Sudan, everything would be fine. But that clearly isn't true. In fact, things could easily get worse. If such groups want to help Sudan grow and develop as a nation, they should be promoting more Western investment and involvement in the country, not less.
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