Jailed Activists and the Cost of Arctic Exploration

As the number of activists and journalists behind Russian bars increases this week, investors may be tempted to dismiss the whole incident as a matter for the hippie fringe. That would be a mistake. The activists' concerns about oil and gas companies' Arctic exploration have merit and – if we follow the thread – reveal potential capital indiscipline on the part of some oil and gas majors. Not to mention the fact that it doesn't look good for any corporate brand to be associated with such questionable judicial tactics. Watch the video below to hear more about how this all matters to investors.

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  • Report this Comment On September 30, 2013, at 5:28 PM, c300man wrote:

    You can be pretty certain Exxon is not taking on a project like this to just break even. If they are it is because they anticipate following projects that will have risks they can accept and still meet their hurdle rates.

    Of course they can always gain some knowledge or perspective that changes their plans but they are very prudent and deliberate in their actions.

  • Report this Comment On October 01, 2013, at 5:45 AM, EllenBrandtPhD wrote:

    As we have said repeatedly - maybe someday, it will sink in! - Lofoten being tabled is at worst Neutral - and maybe Bullish - for STO, because it is at best a 2015 project, not 2013 or 2014.

    Moreover, as these incessant irrelevant stories from Sara and the UltraGreens demonstrate, people like her want to shut down ALL deep arctic projects in ALL countries involving ALL companies. They are not differentiating among projects in Norway, the US, Canada, or Russia.

    If every deep arctic project in the world is delayed, STO is simply on neutral, equal footing with all its peers, no better, no worse.

    What most matters for STO now - for the umpteenth time - is getting the last tranche of confiscatory taxes imposed by the former Socialist government rescinded.

    That is still going to happen - probably very soon.

    And although the thinly traded NOK - like the AUD and the CAD - is still being played with, as part of a greater Yen Short of the Ages play at very high leverage being unwound by deep-pocketed Cronies around the world, the Bank of Norway has now pledged more aggressive tightening than most other central banks, not less. Soon that will show up in the NOK, especially against the USD.

    Add to the two factors above the Canadian discovery and Castberg in the earliest stages of its development, and STO looks much stronger going forward, as reflected in its now having the best overall analyst rating by far in its peer group.

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