Due to the reported interest being shown by a number of large companies in PRL's Spanish gas field I wondered who owned the gas pipeline only a few kilometres from this potential star in the PRL portfolio. First search indicated the Spanish govt, further investigation indicated the govt sold down their ownership in the past few years with a big gorilla called Repsol becoming a if not the major shareholder. Repsol are seriously big their website claims they are the 15th biggest oil/gas exploration production and distribution group in the world. More investigation indicated the Argentine govt very recently, disappointed with the lack of exploration work in their country forced Repsol to sell a subsidiary company to the govt for $US5 billion thats billion!! This subsidiary is YPF. That rang a bell so I had a look at PRL's map of their leases in Uruguay, interesting indeed, who has the major leases right beside PRL, you guessed it YPF!! Is this a strange unrelated coincidence, whatever, PRL are in a great position, does Repsol want to regain its position in Uruguay it's sure got the money, Uruguay through PRL plus a potential Spain gas field. The upcoming trading week may be interesting indeed. Sorry guys perhaps I'm dreaming, please do your own research but this is fascinating, time will tell.
PRL Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
