HDR hardman resources limited

US looks to Africa for 'secure oil', page-2

  1. 74 Posts.
    From your same source:

    QUOTE "Petroleum giant Shell is poised to snap up UK competitor Enterprise Oil for £4.3bn.

    Shell's bid has won the backing of the board at Enterprise, the UK's biggest independent oil explorer.

    The deal would see Shell buy Enterprise's oil reserves, of 1.5 billion barrels, for about $4 per barrel." UNQUOTE

    The article also said that Italian firm ENI was prepared to offer even more, but the UK government wanted to retain some national control over north sea resources, and therefore Shell was the preferred buyer.

    Probably a simplistic viewpoint because Enterprises reserves are likely in much shallower water, but might this Shell offer give an inferred US$4 per barrel of reserves baseline for any potential HDR buyout price?


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