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Gold/Mining/Energy : VLO: Valero Energy Corp. -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (51)	11/5/2005 7:05:36 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 299

Paul, i agree, i was not implying that COP is anything but cheap--what can you say about a 6x PE. i just brought it up because i thought the guy's comments about VLO being "expensive" at the current quote were illustrative of a general perception on the street--a perception that i believe will fade over the coming year (i also believed it a year ago, when Prudential's antitout was targeting a share price at which VLO would now be trading at 1x to 1.5x PE). also, i would say that if one is going to take on the risk of investing in FSU, etc. (as COP does) there may be better upside in pure plays like Gazprom, which trades at a huge discount to Western megacaps. mcdep.com

To: Paul Senior who wrote (51)	12/1/2005 2:29:40 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 299

one good thing about the 2:1 stock split is now analysts won't have to raise their per-share earnings estimates to bring them closer to reality. Valero Stockholders Approve Proposal to Increase Authorized Shares; Two-for-One Stock Split Set for December 15, 2005 Valero Energy Corporation (NYSE:VLO) announced today that its stockholders have approved a proposal to amend Valero's Certificate of Incorporation to increase the authorized number of shares of common stock from 600 million to 1.2 billion shares, allowing Valero to complete a previously announced two-for-one stock split (to be effected in the form of a stock dividend), which was approved by Valero's board of directors on September 15, 2005. Of the total shares of Valero common and preferred stock outstanding, 265.4 million or 84.9% voted in favor of the proposal. The stock dividend will be distributed on December 15, 2005 to stockholders of record on December 2, 2005.