Aminex: Charts & Fundamentals

TaurusTheBear, I don't think DPRK is going to renegate on a deal....it's the small prints that they could use when suited. In terms of valuation, I don't think comparing AEX with DES and PCI is valid. DES has much lower political risks and PCI's Algerian acreage has quite a few discoveries already.

ee, DPRK's knowledge of international oil market may have been limited but now they have decided officially to turn to the Chinese directly for assistance. Is it possible that DPRK are dissatified with AEX? You quoted the 30mm barrels of 2P reserves, where does it come from? There was an article yesterday with repsect Gazprom (Russian government control) selling gas to Belarus at about 4.5 times lower than the Western European prices but Belarus can only charge Gazprom a quarter of the normal transit fee for the Russian gas going to the Western market via Belarus. At the same time, Gazprom is threatening Ukraine with selling gas to them at Western European prices. In short, when big brother wants something badly, it is likely that he will eventually gets his way. In the case of the Chinese/North Korean scenario, if commercial oil is found, it is likely to be sold at a heavy discount to the Chinese in some sort of barter agreements. As for Tanzania, I believe Shell is into the deeper water plays where reserves potential is much higher. In contrast, the AEX's Tanzania plays (with low permeability) are shallow water or onshore. The geological settings are different. But who knows, perhaps the big boys are pissing their money away, too, in East Africa.