Comments on: The Great Red Oil War (part three — Turkmenistan)

By: adamnb

adamnb — Fri, 10 Apr 2009 03:26:12 +0000

Yesterday’s news tells of the Gazprom/Shell jv in which the first shipment of LNG to the US is currently under sail from Sakhalin Island. That’s a totally new business venture for G. (CBS MKTWTCH).

By: adamnb

adamnb — Fri, 10 Apr 2009 03:18:58 +0000

I use the listing on the pink sheets, ogzpy. It also listed in London.

By: StockGumshoe

StockGumshoe — Thu, 09 Apr 2009 14:22:51 +0000

Thanks for the comments. This doesn’t change your assessment much, but Dragon claims about 650 million barrels of oil and 3 trillion mcf of natural gas in “proved and probable” reserves, according to the last numbers I saw. Still dramatically less than Gazprom, of course — Gazprom seems like they shouldn’t be a public company, given the clear government control, but they certainly have tremendous assets and they’re probably strategically the most important company to Putin’s gang.

By: Ellis

Ellis — Thu, 09 Apr 2009 14:15:32 +0000

There are several tickers that come up under “Gazprom.” Is the one you’re talking about RGZPF?

By: adamnb

adamnb — Thu, 09 Apr 2009 07:54:34 +0000

Sounds like speculative nonsense to me. Why would anybody pay three bucks a share for an unknown company with little history that holds miniscule reserves of maybe 250 to 320,000 b/o in the wilds of Turkmenistan? Compare that with a world class companies, like Gazprom, for 4 bucks a share, that hold the worlds largest reserves of nat gas, immense quantities of crude, all in its own native country, controls majority of pipelines to Europe, is the darling of the Kremlin, whose President was its former Chairman, off its high by 70%, and pays dividends to boot. Better yet, I would buy its highly discounted bonds that yield nearly 10%. Still speculative, but much closer to real value.