Faizul,
I have hard time comparing E&Ps head to head. There are just too many differences: reserve size and composition, location of reserves (including geological, geographical, onshore/offshore, political), quality of reserves, future potential, capital needs, existing and future cash flows, etc. Some of these are not even predictable since companies buy new fields, sell existing fields/wells, etc.
I find EGY attractive and I am buying at these levels. POEFF is not cheap enough for me. But that's just my very very subjective opinion based mostly on financials. It's possible that I am completely wrong. If you like both, buy both. ;) I am very much a diversification advocate with E&Ps, since IMHO there's too much risk of a single company hitting an exploration/production hole like COPJF did, for example.
Maybe someone else can comment here. Or you can ask on the Big Dog thread. |
