Do You Want to Buy In W/One Of The Largest Oil Companies In The World @ An IPO Price?

Discussion in 'Stocks' started by ByLoSellHi, Mar 7, 2007.

  1. Oil is a necessity, even if things slow down.

    This company is so dirt cheap, it is unbelievable. STO. Check this out:

    Norway Petroleum Cos. Pick a Name
    Wednesday March 7, 11:12 am ET
    Norway's New Offshore Oil Giant to Be Named StatoilHydro

    OSLO, Norway (AP) -- A new state-controlled offshore oil giant made up of Norway's two key petroleum companies should be called StatoilHydro to end an ongoing debate over its name, the company boards recommended Wednesday.

    In December, state-controlled Statoil ASA said it was acquiring the oil and gas operations of smaller rival Norsk Hydro ASA in a $30 billion deal largely motivated by ambitions to expand outside Norway. The new company would surpass Royal Dutch Shell PLC as the world's largest offshore oil producer, the officials said.

    In a joint statement, both companies said they will recommend the name StatoilHydro to shareholders, but left it up to the board of the new company to decide whether to adopt another name when the takeover is complete.

    "There has been significant debate about the decision to develop a new name," said Norsk Hydro chairman Jan Reinaas and Statoil chairman Jannik Lindbaek in a joint statement. "The decision enables us to concentrate fully on a successful integration planning process."

    Norsk Hydro ASA will continue to operate under its current name as an aluminum and power company.
  2. Oh, and just for disclosure, I bought quite a few shares of this today.

    I never post positively about any stock I haven't already purchased.
  3. All the right moves. Crude, LNG, and metal/coke/hydroelectric.

    US LNG Imports Up About 25% In January - Govt Data
    3:15 PM ET - Dow Jones News
    HOUSTON (Dow Jones)--
    U.S. imports of liquefied natural gas increased by roughly 25% in January, according to U.S. government data. Short-term LNG imports increased to 31.8 billion cubic feet in January, from 25.6 bcf in December, according to data collected by the U.S. Office of Fossil Energy.
    Of the 12 total short-term LNG cargoes delivered in January, three were spot cargoes delivered into the the Cove Point, Md., LNG import terminal. Two spot cargoes were delivered by Statoil (STO), at 2.9 bcf and 2.5 bcf, each fetching a price of $5.84 per million British thermal units, and one 2.9 bcf spot cargo was delivered by Shell NA LNG, a unit of Royal Dutch Shell PLC (RDSA), at a price of $5.73/MMBtu.
    Distrigas (DIST.BT) imported the bulk of the nine short-term cargoes into the Everett, Mass., terminal, receiving an average price of $8.00/MMBtu, while the four remaining short-term, non-spot importers received an average price of $5.54/MMBtu for their cargoes.
    BG Group PLC (BG.LN) imported one 3 bcf cargo into the Lake Charles, La., terminal at $5.29/MMBtu, and one 2.8 bcf cargo at $5.52/MMBtu into Elba Island, Ga. Both cargoes came from Egypt.
    BP PLC (BP) imported two cargoes, both from Trinidad and each at 2.9 bcf into Cove Point at $5.84/MMBtu and $5.49/MMBtu.
  4. Why do you say it's cheap??

    I am a pure technical guy, so forgive me!!!

    I hope the trade makes you UBER rich!!!

  5. Look at its balance sheet. It doesn't get much cheaper with 2 billion of net profit flowing in.

    Forgot this excerpt earlier:

    "The new company would surpass Royal Dutch Shell PLC as the world's largest offshore oil producer, the officials said."