by Travis Johnson, Stock Gumshoe | June 22, 2012 12:05 am
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There’s been some updated chatter on this Myanmar/Burma oil pick this week, including this article from Reuters that’s getting attention: http://www.reuters.com/article/2012/06/27/interra-ceo-idUSL3E8HR2TZ20120627
Comments from Singapore:
SGX listed stocks are cleared by CDP which is like prime broker for individuals: you can buy and sell through any broker.
Burma fever has been hot and heating up further. We first heard about this last year as a passing remark but each passing month has seen more and more news coverage, especially since the elections. What is troubling is the number of ‘expert panels’ going around to discuss investment opportunities which you can also attend for the privilege of paying a few hundred to a few thousand (presumably for the fancy paper and coffee?).
There may be a more interesting angle by looking at banks positioned to handle the trade finance once the sanction situation gets cleared up and cross=border business picks up in a big way. Its betting on the shovel shop and not the digger down at el’dorado.
Nice to hear from Myanmar. I just rece’d notice from the Treasury Department that as of July 11th, the sanctions have been lifted both for financial services (GENERAL LICENSE NO. 16) and new investments (GENERAL LICENSE NO. 17). Both can be viewed at http://www.treasury.gov/resource-center/sanctions/Programs/pages/burma.aspx
Also, I read that the diversified Fraser & Neave (F & N F99) is looking to invest in Myanmar.
Good investing to all,
Mike
Interra now has multiple producers in the Chauk field, and it should be great news if not for falling oil prices, which I am guessing is the reason its price has halved since last year. The fact that Myanmar’s gradual emergence to the world stage hasn’t gone as most had hoped has a part to play too I’m sure. Uncertain as to its current financials, but wanted to know if this could be a good long term buy at the moment, assuming of course oil prices recover. Any thoughts Travis?