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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Kerm Yerman who wrote (5404)9/17/1998 12:16:00 PM
From: Demetre Deliyanakis  Read Replies (1) of 24898
 
Kerm

I agree that the price that Talisman paid for Arakis on a BOE is cheap. However,IMHO the reason its cheap is that there is a good chance that the oil may not be pumped until the political situation calms down.

Also, there are daily riots in Indonesia. Sooner or later the government will fall. Any new government will probably be more anti- western. They may nationalize the oil fields or impose heavier royalty payments on foreign oil companies.

IMHO, I would rather invest in a company like Renaissance whose oil production is entirely in North America.

This is not to say that RES doesn't have its own problems, but I think they will be easier to fix than TLM's if there is a war in the Middle East or a coup in Indonesia.
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