JV partner will be Chinese or Russian with Mexico and Sth Korea as dark horses.
In the last 12 months, compared to the AUD
USD = -46% Canada $ = -17% Norwegion Krone = -14.% (rules out Statoil) Malaysia and Japan = -35%
Its not conclusive - but if you consider that both Russian and Chinese currencies are both up more than 30% against the AUD - Then I find it hard to believe that a Norwegian oiler could outbid them with a 50% swing against them.
Russian Ruble = +36% Chinese Yuan = +31% Mexican Peso = +26% (Petroleas Mexicaneos has more reserves than Chevron) Sth Korean Won = +8%
just a thought .....
MEO Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
