<<Even Winny should be able to understand the significance of this chart... or continue to stick proudly with a loser:>>
I don't even own PBR, you moron.
I've played it in the past along with selling puts and calls and had just about a 2 bagger in less than 2 years.
More recently, I considered selling PBR puts (a mildly bullish strategy)but have not pulled the trigger but still might.
So stop putting words in my mouth and pay attention.
I was playing devils's advocate and asking you to clarify your constant bashing of PBR and you still haven't come forward with any FORWARD looking detail to back up your statements that PBR would still be massively short of capital and would need to dilute further.
My criticism of you was your constant slamming of a stock at every opportunity with nothing to back it up except recent history via a chart and a rear view look.
FWIW, I never pounded the table on PBR and I think there are other better ways to play energy.
But as compared to the majors which has been my point all along, PBR is better.
I'm tired of your childish antics and your abrasive personality.
Jeez, why so much emotion for a stock you do not even own?
Almost any fool can go on the internet and search the words *raise equity petrobras* and find that the company has had plans to raise $58 Billion to make good on its $224 Billion capital investment plan through 2014. Almost any fool.
*Petrobras to look to raise $30B-$40B through 2014, NY Times reports The CEO of Brazilian energy company Petrobras (PBR) said that the company plans to raise an additional $30B-$40B through debt issues by 2014 in order to finance the exploration of its offshore fields, according to the New York times, which cited the Financial Times.
Petrobras (PBR) can “easily” double its 15B barrels of proven oil reserves in four to five years, CEO Jose Sergio Gabrielli said, according to UpstreamOnline.com. Reference Link :theflyonthewall.com
Yes, I am an obnoxious, childish, backward-looking, moron... And here is the forward-looking assessment that you wanted, courtesy of Forbes:
*Developing the pre-salt assets is a daunting task. For starters, it will be mind-bogglingly expensive. In its five-year plan through 2014, Petrobras has committed to invest $224 billion, much of it on platforms, rigs, and other infrastructure for pre-salt production. (It's also building five new refineries.) To help fund the effort, last year the company conducted the largest share offering in world history when it sold $70 billion worth of new stock to investors. It plans to sell up to $40 billion in bonds by 2014.
Scrounging up investment capital is only part of the challenge. Critics argue that the government's mandate to make Petrobras the lead operator in the development of all fields in the pre-salt area -- rather than leave it open for bidding from international companies -- puts too much pressure on the company and will prove an inefficient approach to developing the area. It's unclear whether the industry supply chain can grow fast enough to meet the production targets Petrobras has outlined....*