Petrokazakhstan (PKZ) News

PetroKazakhstan Accepts $4.2B Takeover Bid

PetroKazakhstan Accepts $4.2B Takeover Bid
Monday August 22, 5:11 am ET
Chinese Oil Company Says Canada's PetroKazakhstan Accepts $4.2 Billion Takeover Bid

BEIJING (AP) -- State-owned China National Petroleum Corp. said Monday that the board of PetroKazakhstan, a Canadian firm that is a major oil producer in the Central Asian republic of Kazakhstan, has accepted a $4.2 billion takeover offer.

The deal, if completed, would add to a series of foreign acquisitions of oil and gas assets that Beijing hopes will secure energy supplies for its booming economy.

The offer is to be put to PetroKazakhstan shareholders at a meeting expected to be held in October, CNPC said.

"The Board of Directors of PetroKazakhstan has recommended that its shareholders accept CNPCI's offer," the company said.

The announcement by CNPC comes just days after another state-controlled Chinese oil firm, CNOOC Ltd., withdrew a multibillion-dollar bid for U.S. oil and gas producer Unocal Corp.


LINK: http://biz.yahoo.com/ap/050822/cnpc_petrokazakhstan.html?.v=1

maybe....this one is HOT!...but

it is close to its 52 week high now.....i will look into it during lunch hour.

Sudden $2 spike up to $45 on 1M volume in the last 20 minutes .... maybe more buyout talks or rumors ?

she is moving...i am not in it now though.

DZYN...looks like she's embarking on the next leg up....?

serfy!...i just made some good loot on PKZ! up like 6 bucks this morning!

May I say aaarrgghhh... i was stopped out at 28 and never re-entered.

serf..thanks for com'in...as mick would say. PKZ is showing up to the ball game. Lukoil is a funny adversary.

Nice day for PKZ!

GLTA

PKZ chart:

another 1.5%...lets get 3% today. eom

Good run this morning! eom

advisor, i created the board...

just the other day since i bought in. glad to see your post. stop by anytime for further conversation about oils and alternative energy sources.

dan

PKZ - Interesting oil company. Even though I'm a big fan of alternative energy over the long-term, I have created a list of oil companies which look good to me because I can't doubt that with wars being faught for oil, that there will soon be financial battles to take out publicly-traded oil companies just for their potential reserves alone.

Now back to my list, PKZ made the short oil list after my strict tops-down approach. What makes me potentially bullish on PKZ is the low company P/E and I also like the technicals here off of the recent dip. Obviously there is risk given the low P/E but I feel that the risks are far less then the potential reward here, and any future risks may have already been priced in on the recent dip.

PKZ is one of a few stocks that I would be bullish on at this stage in the game, and I'm surprised to see a board here on Ihub. Just thought I'd add my 2 cents here.


Good luck.

i got in today at 28.25. and...

since i got in, i figured I should have a board to talk on about it. Glad to see you.

What do you think is in store for this one? I cannot believe that it can go down much further from here. To me, this has huge potential to reach 33+.

Looked like a few times over the past 3 months it has seen resistance at 25.5 or so. Seems that was the bottom since the news with Lukoil.

Good luck, and glad to have you here!

Dan

Long PKZ 28.36 - not the best entry of the week, but time will tell.

-hans

Hello all, i have created this board..

to get good conversation started about this company. Please feel free to join in anytime!