Walshy, I agree that takeover will be nowhere near what folks are going for. 400p is dreamland i m afraid. Oil prices being used as another tool to beat investors down, break their spirit.. I bet most would take 150p to be shot of the worry. I really feel sorry for xel holders, $50 pbbl make that project uneconomical
Hostile takeovers are not the norm in Oil&Gas. The KRG have to approve any change of operator...[Greater] Shaikan cannot be taken by an asset-flipper, it's supermajor territory going forward. Which supernajors would antagonise the KRG by attempting a hostile takeover of Gulf? Surely none of them! This storm will certainly pass, but it is costing some PIs their savings and their hopes.,
Exactly. But the Saudis cannot block progress. They've made a very stupid tactical error by revealing their motive: trying to knock US shale on the head. They've given the game away! Uncle Sam will not forgive them. And *regardless of whether it's actually more expensive than oil* the development of new forms of energy will now *accelerate* IMO because the world will not tolerate these Arabs thinking they can dictate energy policy. It's like Arthur Scargill all over again lol. btw Coal has its fans, and Britain has a lot of it...
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