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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: cincinnatikid who wrote (148290)3/26/2011 10:16:04 AM
From: CommanderCricket  Read Replies (2) of 206270
 
Why would anyone at Repsol get fired from walking away from offshore Guinea? Major oil companies walk away from prospects all the time.

Repsol made an economic decision and decided to move on. If HDY finds something worthwhile, a major could come in buy out HDY and take it from there.

Do you understand the different business models between a major oil company, the independents and smaller E&P's?

Look at the GOM and you see majors walking away from 20 - 50 million BBL reserves, not resources like offshore Guinea. The majors need huge opportunities to move the needle while smaller spec companies can take chances on the crumbs of smaller fields.

Have you questioned why a major oil company hasn't jumped in with offshore Guinea? It's probably because it's not worth the effort while for a company like HDY, it can be extremely profitable if they beat long odds of finding a commercial field.
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