India to invest 1 billion

[chinaman711]

India to invest 1 billion in the canadian oil sands news out this morning. Looks like the oil sands stocks might get a little push higher on this news. CWPC gap up to 5 looking good. Watch DOIG DWOG might get some action too.

[madcowdisease]

India to invest 1 billion in the canadian oil sands news out this morning. Looks like the oil sands stocks might get a little push higher on this news. CWPC gap up to 5 looking good. Watch DOIG DWOG might get some action too.

Thanks man. btw, where do you get your oil sands info? Do you have a subscription to one of the journals?

[bludevil007]

im getting killed on POGI, stop the bleeding or ride it out?

[madcowdisease]

im getting killed on POGI, stop the bleeding or ride it out?

I haven't checked the chart at the time of writing, but i'd say it should go higher soon. Maybe not tomrrow or the next day, at which time it may go down, but in due time that thing will go higher. What's your cost basis?

[bludevil007]

.27, ugh

[englishman26]

I just doubled up on POGI. Looks good for tomorrow.

[bludevil007]

i'll play along, just doubled down as well. hopefully the dealer will bust.

[englishman26]

lol! Let's ride POGI!

[bludevil007]

the rallying cry is vaguely familiar - didnt this happen when we first bought in? hahaha. POGI!!!

[englishman26]

lol! Yeah - I love the name! It makes me want to shout "Come on pogi!"

Btw - just in case you were wondering, the name is not why I bought it! :wink:

[BOOOYAHOOO!]

India to invest 1 billion in the canadian oil sands news out this morning. Looks like the oil sands stocks might get a little push higher on this news. CWPC gap up to 5 looking good. Watch DOIG DWOG might get some action too.

I think it would pay off much bigger for India if they would teach english to those customer service fokes that all the U.S. corporations gots handlin complaints. Nowadays you have a question bout a chawge on yer phone bill and you get some clown on the other end of the line that says "exquuz me bleez, can you tell me de name of de person to which you are enquirink?" Jeeesh! :lol:

[stockviper]

FUNNY BOOOYAHHOOO but true. I can say from experience that they are trying as hard as they can but there is still a lanquage barrier which sometimes causes more trouble.

Thank you...Come again!

[NavyPilot]

China, where did u read about India playin the oil sand stocks. thanks. CWPC and DOIG are playin for my retirement home and my new girlfriends.... lol

[chinaman711]

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India eyes $1 bln investment in Canadian oil sands
Wed Feb 1, 2006 6:13 AM IST
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By Jeffrey Jones

CALGARY, Alberta (Reuters) - India has jumped into the intense competition for Canadian oil sands assets with plans to invest $1 billion over the next 12 months, a top Indian energy official said on Tuesday.

India, which has mounted a high-profile hunt for foreign reserves to help power its growing economy, is not worried its plans will put it head-to-head with longtime rival China in bidding for Canadian oil sands assets, said M.S. Srinivasan, secretary of India's Ministry of Petroleum & Natural Gas.

"There are countries where opportunities are extremely limited, the window of opportunity is limited. There, some competition is unavoidable," Srinivasan told Reuters.

"But when opportunities are presenting themselves on a much larger scale, then there's room for everyone. I don't think there's going to be unhealthy competition."

Chinese firms have been enthusiastic investors in northeastern Alberta's vast oil sands resources over the past year, taking stakes in a handful of development projects and a pipeline proposal.

As many as four Indian companies are looking to invest in in the region, with an eye to early-stage developments, said Srinivasan, who was heading an Indian delegation on a visit to Calgary, Canada's energy capital.

Such Indian firms as Oil and Natural Gas Corp. and Indian Oil Corp. Ltd. have been bidders in auctions for big foreign reserves.

There are no specific projects on the radar yet, he said.

"The thing is it requires a lot of homework from our side -- looking at the areas, looking at the options available, looking at the prospectivity and looking at the technologies," he said.

Another big consideration is the ability to get the crude wrung from the oil sands to refineries, he said.

Alberta's oil sands are already the target of an estimated $100 billion of investments in new projects and expansions of those that are already producing. Current output is more than one million barrels a day, or about 40 percent of total Canadian crude production.

The resources rival Saudi Arabia's conventional oil reserves in size, but are far more expensive to develop and refine into petroleum products like gasoline.

With surging oil prices and tight energy supplies making headlines in the United States, oil sands have over the past year taken center stage amid the quest for secure reserves.

Oil sands are either mined in open pits, as is done at projects run by Syncrude Canada Ltd., Suncor Energy Inc. and Shell Canada, or produced by thermal means. That involves injecting steam into the ground to loosen the gooey crude so it can be pumped to the surface in wells.

India is too late to the party to acquire major mining holdings, said Wilf Gobert, analyst with Peters & Co. Ltd.

"But 80 percent of oil sands are thermal 'in situ' projects, and there is lots and lots of acreage and thermal oil sands prospects around," Gobert said.

EnCana Corp., for example, announced it is looking for partners to help develop its vast thermal prospects, and said foreign state oil firms had already expressed interest.

Besides recent interest among Chinese firms, the region has attracted French oil major Total SA, which acquired a controlling stake in the $9 billion Joslyn development last year.

Canada's industry estimates production of tar-like bitumen and synthetic crude processed from the unconventional resources will nearly triple to 2.7 million barrels a day by 2015, as a host of projects start up.



© Reuters 2006. All Rights Reserved.




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[madcowdisease]

China, where did u read about India playin the oil sand stocks. thanks. CWPC and DOIG are playin for my retirement home and my new girlfriends.... lol

Thanks Chinaman.

But Navy, i'm not so sure the 1 billion dollars is going to go toward buying stock. It could have been a behind closed doors deal with a few major players. Sort of a quid pro quo arrangement. Then again, it could be what you suggest too.