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Sasol takes 50% stake in Canada shale project

06.10.2011  | 

Sasol has completed a $1.08 billion deal for a 50% stake in a western Canada shale gas project, the South Africa-based energy firm said on Friday.

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Sasol has completed a $1.08 billion deal for a 50% stake in a western Canada shale gas project, the South Africa-based energy major said on Friday.

The acquisition, worth 1.05 billion in Canadian currency (C$), gives Sasol a 50% interest in Talisman Energy’s Cypress A assets in the Montney Basin.

Officials estimated the contingent resource for Cypress A at 11,200 billion cubic feet.

The deal could eventually lead to a gas-to-liquids project in the region, Sasol officials said when first announcing the deal in March.



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Daniel
03.26.2012

Hedge funds broadly and the value guys in rauticplar are piling into the stock, both on the numbers above and I think they are betting on a regime change pop. The risk is the value story has been true for years yet the multiple has continued to drop.It is hard to believe the market puts almost a 50% premium on a dollar of profit from IBM, who are a no-growth financial engineering company.

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