Well if its mitsui, more the reason 2b tight-lipped about it, coz Nexus could get into a hissy fit!! Guess we shall find out in couple of weeks. I raised the alert here in June-July when SingPET 'suddenly' became the largest shareholder in CUE.
Also the Chinese majors have beenbuying into some acreage in Canada & elsewhere. CNPC-Petrokazakstan deal: US$ 4.2b, Aug '05 Sinopec-Udmurtneft (Russia): US$3.5b, Jun '06 CNOOC- O&G Assets (Nigeria): US$2.7b, Jan '06 CNOOC-Awilco Offshore ASA (Norway): US$2.5b, July '08 Sinopec-AddaxPetr (Canada): US$7.2b, June '09
Ofcourse we know how Dubya knocked back CNOOC's US$18b (US$67/sh) in '05 bid, for UNOCAL, to protect US interest, just like Costello said 'no' to Shell poaching 100% of WPL.
OK back to Oz.
KOGAS were doing an MOU with Blue Energy in QLD & Sinopec just agreed to buy gas from Exxon-STO-ORG in their PNG project. We know how Santos got a bucket load of dollars from Petronas, just like BG did it to QGC & Conoco to ORG, Shell to AOE in the Coalseam sector.
Someone has done their homework really well here & are about to leapfrog the rest.
MEO Price at posting:
50.0¢ Sentiment: Buy Disclosure: Not Held
