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Coastal Energy (CENJF.PK +5.4%) is enticing traders with the prospect of the energy...

Coastal Energy (CENJF.PK +5.4%) is enticing traders with the prospect of the energy industry’s next bidding war, Bloomberg reports. Indonesian oil producer PT Pertamina reportedly sent a takeover proposal to major Coastal shareholders. Since Coastal operates mostly in the Gulf of Thailand, that nation’s state-controlled PTT could consider an offer.
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  • Venerability
    , contributor
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    Some do not see it yet, but this also shows that Pertamina is very optimistic that the brouhaha over the South China Sea will come to a positive negotiated conclusion for all involved. China will almost undoubtedly come out on top. But there is enough to go around for everyone, as the South China Sea becomes the newest Energy Boomtown.

     

    It also may very well mean that Pertamina and Harvest (HNR) will soon begin to partner on Harvest's large and very prospective South China Sea bloc, acquired from CNOOC and abutting Talisman's.

     

    Pertamina has also recently flirted with Talisman, by the way.

     

    Can you see a Grand Plan developing?
    8 Nov 2012, 03:33 PM Reply Like
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