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ConocoPhillips Message Board

  • cepers cepers Jun 3, 1998 12:45 PM Flag

    Stockholders Meeting

    Just got through watching the stockholders
    meeting from 5-11-98. Several things jumped out at me.
    They are :

    1) One of the main objectives of the
    company under value creation is Joint Venture
    Opportunities. As J. Mulva put it, this is an opportunity to
    combine with other companies to form a larger, more
    competitive company.

    2) GPM will be looking for
    selective aquisitions and joint ventures to enhance their
    Best In Class system.

    3) RM&T will look to grow
    marketing and have more joint ventures.

    4) Chemicals
    is looking for aliances along product lines and
    geographical locations.

    5) Still lots of money left for
    the stock by back program (~500MM), which to me means
    the stock price should rise. (I think that the price
    should be around $60, IMHO)

    What does it all
    mean? I am not sure but I think that P will be very
    exciting from now until the end of the year. Everyone in
    the stock market is looking for mergers, I think it
    will happen with P. Now that Monsanto is starting to
    break up into Monsanto (Agriculture) and Solutia (sp?),
    I look for the combination with Conoco to be
    revisited. The aliances in the chemicals areas is an
    intersting point. I believe that a lot of the feedstocks are
    currently bought on the spot market. More aliances with
    South American contries should be beneficial and
    increase margins. IMHO

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