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Pengrowth Energy Corporation Message Board

  • greenbay_77034 greenbay_77034 Mar 6, 2004 4:54 PM Flag

    Buffett Rumor

    http://us.rediff.com/money/2004/mar/05buffet.htm

    This is a new rumor circulating, and if true, it shows that Buffett has a strong interest in the oil and gas industry. Buffett has denied the bid, but he also denied having a bid on Burger King before it was sold and as we learned later, he really was bidding. So, you can't take Buffett at face value unfortuneately.

    What we also know is that Buffett has been buying up natural gas pipeliness in an economy where he "can't find" any stock he's intersted in, or rather one liquid enough that could make a difference with that size of a portfolio.

    IFFF this rumor is true, then the world's greatest invesor sees a bright future for natural gas and oil reserves. IFF this is true, then I guess great minds think alike.

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    • ONGC is Indian oil and gas. It is a relative bargain because of the Asia play and the fact that the sales are mainly an effort to hide the red ink that the Indian government is making this year (desperate sellers induce bargains - duh).

      Buffett would be smart to take advantage of such a deal; it is right up his alley.

      IT IS NOT - however - a play for oil and gas. While the state run firm (now moving towards being privatized) does do oil and gas distribution and has limited capabilities in exploration its main money maker is the distribution and such.

      It's more a play on India and Asia in general than anything else.

 
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