Quote:
Originally Posted by WarrenC12
He's obviously done some research on the matter, but completely bullish on LNG (and other things on our Vancouver boards). He speaks with 100% authority but really the things he talks about are hunches and hopes. Kind of reminds me of Donald Trump.
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Haha!
Interesting to note that just one hour ago the Malaysian Star newspaper confirmed today that the CEO of Petronas stated (after a press conference today involving a briefing on financial results ending December, 31, 2015) that they are "fully committed" and "pushing ahead" with the PNW LNG project along with a petro-chemical project elsewhere on the globe.
Straight from the proverbial horse's mouth - and that's the highest coin in the realm.
He also stated a reduction and delay in both capex as well as opex in several other named global projects as well as internally. Won't affect the PNW LNG project though.
Ya know somethin'? Back in 2011, Petronas acquired a 50% or $1 billion interest in one of Progress Energy's nat gas fields in NE BC. At the time it raised my eyebrows as I was fully aware of Petronas and their likely modus operandi in making that investment as they were likely the highest profile LNG producer in Asia.
Then later in April, 2012, in an obscure Globe and Mail article, the then CEO of Petronas was quoted that they were gonna make a "take-over offer of a Canadian natural gas company". Now that really raised my eyebrows and my first thought was - "loose lips sinks ships".
Again, I knew right away that the takeover target would be Progress Energy for a plethora of reasons. Funny thing though - PE stock didn't move on the TSX as a result. Conducted some more due diligence and subsequently myself and some buds purchased a $7 figure interest in Progress Energy stock on a very educated "hunch".
Lo and behold about two months later Petronas made a take-over offer of Progress Energy at a premium. We then dumped our stock and made a 80%+ premium. "Twas a great payday!
Ya may take the foregoing with a grain of salt - no skin off my back.
And ya kinda remind me of Al Bundy.
