Watching The World: Drilling on the stock exchange

02/04/2002
Europe is currently seeing the re-emergence of stock exchange prospectors who see it more economic to acquire producing assets rather than step up their own exploration programs. In the 1980s, Britain's small exploration companies were snapped up, and now those that are left, such as Enterprise Oil PLC, are rumored to be takeover targets.But size is no longer any protection, and even large companies are aware that Royal Dutch/Shell Group has $11 billion on tap to finance possible takeovers.However, it could be that the real threat is going to come from the Far East, where both China and Japan are preparing to replace imports with production from their own assets in the west.Chinese bu...
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