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You said you are looking for oil company with big reserves (and cheap)? Check out Fletcher Challenge Energy (ADR's are trading on NYSE under FEG). It's cheap, it's international, it pretty well is a monopoly in New Zealand / Australia area. It is owned approx. 60% by Fletcher Challenge Group - energy, forestry, pulp and paper, real estate investments. In 1997 fiscal year (ending in June 30) it made A$272mm. It holds more than 60% in Maui Field (offshore of N.Z - big reserves). Brunai will go onto stream by July this year. Controls 15% of refining in N.Z. Add to this Canada (approx. 25% of total company), add to this Texas properties which show substantial potential, and add to this Venezuela's potential. All this adds up to 'hell of the oil', yet it trades at deep discount to other intergated oils. By the way, Hoover's, Zacks, etc. information is grossly out of date, so you must dig deeper to get a good handle on it (I have a good handle on Canadian part, Texas part and Venezuela developments). So, check it out and post what you think. I don't own any of it, but I am seriously looking .....
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