01-25-2013, 08:27 AM
Doesn't look like KOGAS is a prime candidate for an IOC deal unless one of the heavy Koreans steps in behind KOGAS to help assure its own future. KOGAS seems to neither be particularly healthy nor planning to recapitalize sufficiently to acquire a significant share of IOC. On the other hand there are a couple of articles re CVX on SA such as http://seekingalpha.com/article/1122421-...il-company that suggest Chevron is in a great cash position to acquire IOC assets. I still think XOM with its pipeline tee is in position to strike the greatest profit from a deal. Now that E/A volume is reconfirmed a plant for the second and third 3.8 MTPA increment is clearly resourced given that 3tops is not far away.
I think I'll go to Napa March 1 and wait in a wine cellar for the news.
I think I'll go to Napa March 1 and wait in a wine cellar for the news.