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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (14717)	11/8/2002 12:37:03 PM
From: Joan Osland Graffius	Respond to of 206121

ild, This company is hard to evaluate since it is only a couple of years old as Norway sold 17% of their oil business to the public. Government owned businesses have a tendency to be inefficient. Just some off of the top of my head evaluation using a 20% discount the stock is trading above its intrinsic value. One thing I like is it is offshore and does not have the double taxation problem on dividends and does deliver a nice dividend. Norway seems to be the 3rd largest oil producing nation and supplies Europe with both oil and gas. They have better returns on assets and equity than the oil and gas companies in this country. Their debt is ok. I need to see what kind of pension system is in place with the company and country. They do have high taxation in Norway, but they do not start fights with other countries. <g>