Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: energyplay who wrote (63904)	5/16/2005 11:38:36 AM
From: Taikun	Read Replies (1) of 74559

EP, Main issue I see with the majors now is depletion vs buybacks. Dell just announced stellar EPS on the back of a huge share buyback. Reserves and production per share may become less transparent for many of these majors. All of these are supposedly near peak oil. I would like to see an analysis of how much of a hit BP takes if Russia nullifies the deal with TNK, for example, say because Blair supports Bush in some war Russia opposes. Ditto Venezuela where BP, CVX, XOM all have operations. Even though the Canadian dollar is under pressure, the NAVs of the Canadian companies haven't changed. Someone like Chavez has shown his deft at cratering his economy while making his oil sector weak and dissuading foreign investors from further deals. The oil is there, there are buyers, but the required system to get the oil out is broken. D

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