Nexxen Shareholders and responsibility

[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!