Devon Energy Corp (DVN)

lucapacioli1492 (59.95) Submitted: 11/10/06 1:39 PM : Start Price: $69.49 DVN Score: 29.28

This is an oil and gas play which has just participated in a major find in the Gulf of Mexico. Although this will take a couple of years to produce cash flow, the company was attractive before this. Among other participations, it has a working interest and is the operating partner in the Canadian Kotaneelee gas field which has been under-developed for decades due to dozen-year-long litigation between Canada Southern and others ( now including DVN ).That has been settled and, more importantly, CSW has to sell its interest ( due to a takeover by COSWF ) and DVN is the logical buyer with an advantaged position. DVN is also a logical acquisition candidate by larger integrated O&G companies.

Report this Post Replies: 0 | Reply | Permalink