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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (45929)12/12/2011 8:56:14 PM
From: E_K_S  Read Replies (1) of 78704
 
Talisman Energy Inc. (TLM)

Do you know what is contained in their "stated Book Value"? Can you really compare the BV that Yahoo Finance shows across Large, Medium & Small Cap E&P companies? When I scan the BV (as reported in Yahoo Finance), the large integrated BV is about 60% of the market price some of the smaller E&P have a higher BV to their market price and even Hess Corporation (HES) a mid cap is selling near it's BV. Just on BV, maybe HES is a better Buy? ( finance.yahoo.com ). They also have a better debt profile when you look at net annual income to LT debt. (Disclosre: I do not own HES but this is one I am considering based on their total operations).

What you see as diversification and diverse operations in Talisman Energy Inc. (TLM), I see potential political risks in many of the foreign countries where they have operations.

I have stayed with the large integrators and maybe the very large E&P companies ( like HES) when I want operations outside the U.S. & Canada. The times I placed small bets on these foreign E&P companies, they turned out to be loosers. I can get similar loosers if I focus on U.S. companies w/o the political risk.

I am not saying that TLM is not a good Buy candidate, it's just not one for me.

EKS
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