North Sea Explorers Face Buy-Out from the East

Source: Sunday Herald (12/20/08)

"Chinese and Middle Eastern sovereign wealth funds are circling struggling North Sea energy explorers in expectation of a fire sale next year."

The sovereign wealth invasion of the North Sea has already started, with Abu Dhabi National Energy Company subsidiary TAQA Bratani paying $631 million for five Shell oilfields in the North Sea earlier this month. This was part of a much wider swoop for Western assets by the wealth funds of oil-rich countries in recent years, with targets including infrastructure and banking.

The biggest Middle Eastern fund is thought to be the Abu Dhabi Investment Authority, worth an estimated $875 billion, followed by the various Saudi funds and the Kuwait Investment Authority. China's main fund is the China Investment Corporation.

Discussions in oil industry circles in the northeast have increasingly turned to the plight of the AIM-listed small explorers in recent weeks as the credit crisis lurches towards the new year.

With the banks already under pressure to tighten lending, the fall in the oil price will mean companies are considerably less creditworthy than before and will risk seeing their facilities scaled back accordingly. Those who cannot pay the difference will face asset seizures and liquidation.

Announcing Streetwise Live! Events
Source: Streetwise Reports (07/13/2020)

Streetwise Reports is offering 100 investors—at no charge—the opportunity to meet via Zoom with executives of precious metals companies as they discuss recent developments at their companies and upcoming catalysts.

"China's export quota could be opportunity for Canadian miners"

Mexico: Gold's Next Powerhouse Player
Source: Marc Davis, BNW News (11/03/2009)

As the world's key gold producing nations struggle mostly in vain to replenish dwindling below-ground supplies, Mexico is bucking the trend in a big way.

Where Have All the Gold Mines Gone?
Source: Brent Cook, Exploration Insights (04/14/2009)

Given the declining global gold production, mining companies’ demand for reserve replacement and the acute dearth of new gold discoveries, there is no doubt that real economic discoveries will be exceptionally valuable. . .the opportunity for stellar profits is the best it has probably ever been. Identifying the few successes, however, will require vigilant and constant technical assessment of geology and drill results, always with an eye to mine economics.

Congo Completes Mining Review, Says Majors Quit Talks
Source: Reuters (12/20/2008)

"Review process is extended an additional 45 days to allow six companies to return to the negotiating table for direct talks with government ministers."