BERNSTEIN RAISES BG PRICE TARGET TO 1350P FROM 1250P; RATING
outperform
BERNSTEIN RAISES CAIRN ENERGY PRICE TARGET TO 3600P FROM 2720P;
rating outperform
BERNSTEIN RAISES TULLOW OIL PRICE TARGET TO 1420P FROM 1140P; RATING
outperform
BERNSTEIN RAISES PREMIER OIL PRICE TARGET TO 1290P FROM 990P; RATING
market perform
BERNSTEIN RAISES GALP ENERGIA PRICE TARGET TO 10.70 EUR FROM 10
EUR; rating market perform
BERNSTEIN RAISES STATOIL PRICE TARGET TO NOK 134 FROM NOK 129;
rating market perform
BERNSTEIN FORECASTS AVERAGE OIL PRICES AROUND $100/BBL IN 2011
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ACCRA, Nov 13 (Reuters) - Some 50 international oil companies including Chinese firms have expressed interest in exploration of Ghana's giant Jubilee oilfield, Deputy Energy Minister Kwabena Donkor said on Friday.
Ghana is due to start pumping oil from Jubilee late next year. It is believed to hold between 500 million and 1.8 billion barrels of oil equivalent. "We have had about 50 companies wanting to invest in the upstream sector of our oil industry," he told reporters. "Out of this, there are a number of Chinese companies -- China is the single largest investor in the world and we'd have been surprised if they had not approached us," Donkor said. Donkor added that Ghana has also received offers from U.S. and Scandinavian oil companies, without elaborating. He said Energy Minister Oteng Adjei was in China on business relating to the energy sector and declined comment on whether the minister's trip had anything to do with Jubilee. There is speculation Chinese companies could be interested in purchasing a stake in Jubilee held by private investment firm Kosmos Energy and which -- according to sources close to the matter -- Exxon Mobil has already contracted to buy. Ghana's local GNPC petroleum company is also interested in the asset, GNPC sources have said. (Reporting by Kwasi Kpodo; editing by Mark John) (For more Reuters Africa coverage and to have your say on the top issues, visit: http://af.reuters.com/) Keywords: GHANA OIL/EXPLORATION
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
ACCRA, Nov 13 (Reuters) - Some 50 international oil companies including Chinese firms have expressed interest in exploration of Ghana's giant Jubilee oil field, Deputy Energy Minister Kwabena Donkor said on Friday.
"We have had about 50 companies wanting to invest in the upstream sector of our oil industry," he told reporters. "Out of this, there are a number of Chinese companies -- China is the single largest investor in the world and we'd have been surprised if they had not approached us," Donkor said. (Reporting by Kwasi Kpodo; editing by Mark John) (For more Reuters Africa coverage and to have your say on the top issues, visit: http://af.reuters.com/) Keywords: GHANA OIL/EXPLORATION
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Hi Kkwfromoz
Very good arguments well put. We could see Aidan giving up the baby at £20 or more and press his good luck elsewhere in oils. A slight damper may be that the Africans distrust the big boys and while happy to deal with a fellow conquered by the English Empire 'victim' they may baulk at dealing direct with Exxon etc who have a rather bad exploitation record! Who knows?
Anyhow it can only get better. Blow it all as by 2012 seems world will end (again!), I say
You might recall that going back a couple of weeks ago, I said my conspiracy theory would be that Exxon is not really just interested in Ghana and Uganda; but that it is harbouring an ulteria motive, like getting TLW on its sight. Thin end of a wedge so to speak.
That is a good article and I am glad that someone else ( a take over expert) shares the same view.
My view also is that if it's going to happen, EXXON is not going to wait for further TLW successes and pay premium on top of further price increases in TLW shares (don't forget, Mah Deep and Odum news are coming soon and then soon after that Tweneboa and I have good feelings about those and why not? TLW has over 90% success!); which might be say 40% on 15.00 or 18.00; which will bring TLW to the 21.00-25.00 mark. EXXON might just say ok Aidan how about we give you a premium of 60% on 13.00; which is around 21.00 now, (like they all say to close a deal) TODAY. That way, any successes after Tweneboa are bonuses for EXXON and Aidan might just be happy with a good profit for himself and the share holders.
Aidan continually says that TLW is not for sale. My way of thinking, he has to say that regardless, otherwise it would sound like TLW is desperate and you wouldn't want to have that image on your company or looking at it from another angle, wouildn't get a good price for any sale, but, everything is for sale, it's only a matter of price is it not?
Another argument is that Aidan is still relatively young and what would he do with his time? But who is to say that he is going to stop working? He has a very good track record, and why wouldn't EXXON offer him a deal that he cannot refuse?
All my own conspiracy theories of course !! Hey I am feeling better already !!
So are we all happy with 21.00? and BTW, what are you all going to do with all that money, too young to retire? :-)
Very good link. With this as extra positive news it is amazing Tullow is not zooming in value. Still, not sure on quick gain from a takeover [which Aidan will not do easily] as opposed to wait a few months till Tlw hits £20 of its own accord.
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