• iadops40
    RIG received prelim injunction by fed court in Brazil requiring the co's 9 rigs operating in waters off coast to cease ops in 30 days.
    9/28/12
    Reply (18)
    • iadops40: http://reut.rs/NUpuuQ
      9/28/12
    • slimmbrimm: Chess @ it's finest, Brazilian courts playing with fire, PBR needs RIG and SDRL both to maximize subsalts. Western tech still rules.
      9/28/12
    • slimmbrimm: If I were RIG why not say screw Brazil, Jubilee proved plate tectonics, why not move to all opps to W.Africa same reserves, with less
      9/28/12
    • slimmbrimm: political risk?
      9/28/12
    • slimmbrimm: I ask this ? seriously, if Tullow was here with some yield, and not a pink slip, I would swap my PBR in a sec?
      9/28/12
    • slimmbrimm: I know it election season, but I just don't see this worrisome trend reversing any time soon.
      9/28/12
    • Bob de'Long: On-shore North America is the only place to invest in oil stocks. The 3rd-world oil in like buying a home in the getto.
      9/28/12
    • slimmbrimm: BDL, the world needs more oil than on-shore N.America can produce, deep-see is only area I see any future growth of reserves
      9/28/12
    • slimmbrimm: As time goes buy the world will rely more and more on ocean oil properties, and yesII agree investing overseas is not with its risks..
      9/28/12
    • slimmbrimm: But after watching the ridiculousness of BP Macondo's spill here with our politics, I don't have much trust here either
      9/28/12
    • Ocean Man: Agree w/ Bob.
      9/28/12
    • slimmbrimm: OM, believe we share SDRL in common, why wouldnt they carry same risks as Brazil situation? They seem to play heavily with the 3rd world?
      9/28/12
    • slimmbrimm: Not saying PBR my favorite oil comp out there, but it does seem to be towards lower end of last few years price range.
      9/28/12
    • Ocean Man: Not sure on the relative exposure to Brazil between SDRL and RIG, but I definitely prefer SDRL's newer fleet to RIG's.
      9/28/12
    • slimmbrimm: Yeah I am not sure either, think SDRL has an upcoming IPO/spinoff of Brazil assets also. Thks for ur reply, always enjoy ur comments
      9/28/12
    • Ocean Man: Good point, that MLP spinoff may be ridding them of some exposure there.
      9/28/12
    • iadops40: oil and gas co's in Latin America are very dicey investments due to shady government and politics and also the risk of nationalizations
      9/28/12
    • iadops40: I do like SDRL...I was unaware they were doing a spinoff...when is this taking place?
      9/28/12