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A 50% cut in Petrominerales' (PMGLF.PK) market value has left its equity and net debt valued at...

A 50% cut in Petrominerales' (PMGLF.PK) market value has left its equity and net debt valued at the cheapest multiple to profit among any oil and gas explorer in the world with a market value higher than $250M, according to Bloomberg, which speculates its reserves, estimated at 40M-plus barrels of mostly high-quality light oil, could attract suitors such as Enbridge (ENB), TransCanada (TRP) or Pacific Rubiales (PEGFF.PK).
Comments (3)
  • Callinicus
    , contributor
    Comments (2) | Send Message
     
    Enbridge?
    TransCanada?

     

    ENB & TRP are both large, substantial midstream oil transporters in Canada & the US.

     

    Petrominerales is a small, relatively high risk E&P oil company operating in Columbia.

     

    Difficult to see the apparent benefits to these oil transporters of buying Petrominerales. A high risk, smallish, oil company operating in a segment different from that where both TRP & ENB have their operating expertise, and in a country that neither has any particular knowledge of.

     

    If either TRP of ENB bought Petrominerales, there would be a stampede by the institutional shareholders out of their stock.
    17 Jun 2013, 11:15 PM Reply Like
  • Callinicus
    , contributor
    Comments (2) | Send Message
     
    Enbridge?
    Enbridge is a relatively low risk midstream oil transporter in Canada & the US.
    Petrominerales is a small, high risk, E&P oil company in Columbia.

     

    Difficult to see the apparent benefit to Enbridge of a acquisition of a smaller, higher risk E&P company, operating in an industry segment outside their area of expertise, in a country they have no operating experience in.
    17 Jun 2013, 11:15 PM Reply Like
  • marpy
    , contributor
    Comments (686) | Send Message
     
    Oil in Columbia!!! I would not touch it with a 10 foot pole!!! ENB and TRP are large pipeline and energy service and infrastructure companies that do not own any oil or gas production so fat chance they would be interested in acquiring any.
    18 Jun 2013, 09:51 AM Reply Like
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