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Petróleo Brasileiro S.A. - Petrobras Message Board

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  • petroglyph56 petroglyph56 May 1, 2008 8:29 AM Flag

    Why is PZE not moving if owned by this co?

    PZE is a relatively tiny subsidiary whose assets are essentially all in Argentina. CNBC (and apparently other US media sources) have repeatedly confused the Argentine sub with the main mother corporation next door in Brazil. All the big undersea oil is off Brazil in blocks owned by PBR and other energy companies. PZE is strictly a bystander at this point.

    A subsidiary's financials flow up into the top corporate level. Good fortune at the top level (PBR) does not automatically make a share of that fortune flow out to the peripheral sub (PZE).

    More than a few under-informed, CNBC-dependent investors learned this the hard way last summer when they flocked into PZE and ran it all the way to $17 based on confusion. Don't repeat their mistake.

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