Nexxen Shareholders and responsibility

[Hopperbin]

The Nexen deal really is not that good if you go back 5 years from today and see what share price was back then. Or purchased at some of the high points in the meantime. I am also not a shareholder but seems to me someone is getting bought out here and a full investigation should be conducted and there will likely be some shady deals on the inside.

[Hopperbin]

UPDATE 1-China envoy warns Canada against politicizing Nexen deal
6 hours ago - Reuters

UPDATE 1-China envoy warns Canada against politicizing Nexen deal
* Ambassador, in interview, calls for free-trade deal talks

* Zhang says treaty would expand bilateral trade, investment

* Remarks comes as Chinese commerce minister visits Canada

TORONTO, Sept 22 (Reuters) - China's ambassador to Canada warned in remarks published on Saturday against letting domestic politics drive the Canadian government's decision on whether to approve a Chinese state-owned oil company's proposed $15.1 billion takeover of Calgary-based Nexen Inc.

"Business is business. It should not be politicized," Ambassador Zhang Junsai said in an interview with Canada's Globe and Mail newspaper.

"If we politicize all this, then we can't do business," he added, referring to the Canadian Industry Ministry's review of CNOOC Ltd's proposal to buy the Canadian oil and gas producer.

The deal, if completed, would mark the first outright takeover of a large Canadian energy producer by a Chinese state-owned enterprise.

The ambassador also said negotiating a full free-trade agreement within a decade would be the best way of assuring fair, two-way trade and investment between China and Canada.

"It's time to open up each other's markets," Zhang said in remarks that coincide with Chinese Commerce Minister Chen Deming's visit to Canada. "It's high time to do the exploratory work on the possibility of a free-trade agreement."

The newspaper said it was the first time that a senior Chinese representative called for early, accelerated talks on a free-trade deal.

Concern that China has unfairly limited Canadian companies from investing there is one of the issues affecting the debate within Canada on whether the government should approve CNOOC's bid for Nexen.

Industry Ministry officials are looking closely at the bid to determine whether it is of net benefit to Canada.

CNOOC, whose offer has already been endorsed by Nexen shareholders, said it did not expect Chen to raise its sensitive takeover bid during talks with the Canadian government.

But Canadian Trade Minister Ed Fast fully expects to discuss ways to expand Canada's relationship with China when he meets with Chen on Sunday, Fast's spokesman said on Saturday.

"Canada wants to continue to expand its relationship with China, but we want to see it expand in a way that produces clear benefits for both sides," spokesman Rudy Husny said in an emailed statement. "Minister Fast will continue this discussion when he meets with his counterpart tomorrow in Vancouver."

Canada's priority is to remove what it considers to be Chinese trade barriers on goods and services, and increase exports such as lumber, grains, beef and value-added products, Husny said.

In the Globe interview, Zhang said a free-trade treaty would go a long way toward expanding trade and investment between the two countries, an important goal for Canadian Prime Minister Stephen Harper.

Harper wants to ease the dependence of Canada's export-oriented economy on the United States, its main trade partner.

Although Canada is seeking substantial foreign investment in its oil and gas industry, the CNOOC move is raising concern inside the cabinet, where some members are wary of letting a Chinese state-owned enterprise buy up domestic assets.

Zhang said Canadian fears over China's intentions are unfounded. "We are not coming to control your resources," he said.

[Hopperbin]

That is funny the Chinese envoy does not want this politisized, we are a democratically ellected gov't here, if they think we should not be then politisize that.

[ASRG]

Hopperbin: Nexxen made quite a few mistakes in the last couple of years, notably an revolutionary upgrader process that was a spectacular multi billion dollar failure....incidently the failed process is being copied by the Alberta government through the massive subsidies to Northwest Upgrader at Fort Saskatchewan. This is the governments little "carbon capture scheme".....a truly pork barrel crony deal for their pals.
Nexxen's upgrader wreck really has weakened the companies bottom line.

[Hopperbin]

How would you explain CNOOC's bid for Nexen? They have almost doubled revenue since the low in 08.

[ASRG]

CNOOC is already a partner with Nexen in the Long Lake oil sands upgrader. This is a SAG oilsands project/hydro cracking upgrader, and is a complete dog. Google it for the sad story.
Consider Nexen's history? CNOOC bought into Long Lake from a company called OPTI. Google OPTI and you will find a real shady outfit with law suits and insider trading.
Check out the revolving door of Nexen management. Check out why Yemen gave them the heave ho?
Why would CNOOC want to buy NEXEN? Consider the potential. Nexen is involved all over the world, notably in deep water off Nigeria. Nexen is heavily involved in the Horn River in BC with a Japanese partner. Nexen has lots of shale prospects in western Canada. Nexen has a motivated group of stock holders.....they want to bale before Long Lake implodes!
As for doubling revenue since 2008......who knows? Books can be cooked when you turn over the management fairly rapidly?
My personal take on Nexen is let CNOOC have it......they might bring some discipline to a pretty shaky company!