Distressed Oil Companies To Provide Rich Pickings In 2009

The coming year will offer numerous opportunities for those oil companies well-positioned to pick up distressed assets and valuable reserves at a depressed price. The fall in front month crude from a high of US$147.50/bbl in July to around US$40.10/bbl has drastically impacted both the valuations of smaller oil companies (which aside from any proprietary technology derive their value from that of their reserves), and more importantly their ability to hold on to the operations they currently have.

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