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United States Oil Message Board

  • manylumen manylumen Dec 17, 2012 9:11 PM Flag

    oil stocks and acquistions etc

    See last week the Canadians approved the purchase/acquistion of nxy by cnooc of China. What this tells us is that oil stocks are undervalued today and the expected trend is for oil and oil stocks to go higher at least in the longer term if not the mid term. The other important thing to observe is that its cheaper or apparetnly makes more sense to buy oil assets today than pump cash into exploration. So it is true that exploration has and is continuing to become more costly and risky.At todays oil company valuations it makes sense to simply buy established assets and prospective lands oil corps own.

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