argentina government intervention

Very troubling news for any investor holding equities with exposure to Argentina
Overnight the Argentinian government seized Repsols majority stake in an argentine shale gas play
As a result credit default swaps on argentine debt blew out to a record high 1000 points
Any foreign owned mining project in Argentina now must be considered to be in jeopardy, no one is going to be willingto invest in a regime which can see your project taken from you with no compensation
Sadly sold out of ORE today, sovereign risk just too high