January 24, 2008
Would that it weren’t for this reason, but Mr. Putin’s increasingly heavy-handed dictatorial proclivities are going to benefit some of our companies. In November, I wrote that Shell (RDS.A) was going to have to come up with some big reserves in order to continue as a major player among integrated oils. Instead of buying Shell, I advised buying the type of company that I think Shell must buy if they are to increase their reserves and remain a serious player on the world energy stage. Among these are our currently-owned Chesapeake (CHK), Anadarko (APC), and Conoco Phillips (COP). I also personally own, and consider them a possible buyout from a company like Shell, EOG (EOG) and Ultra Pete (UPL). Others you might want to take a look at are former portfolio holdings Marathon (MRO) and Devon (DVN), as well as Cabot (COG), Occidental (OXY), Pioneer Natural (PXD), Talisman (TLM), and Murphy Oil (MUR). All are well-managed companies in an industry where it’s cheaper to buy resources than to drill for them. read more
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shell2004.com
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