Painted Pony Pete Ltd PDPYF

RE: RE: RE: protecting the majors

[jayd54]

I would agree with Mr. Coxe and, respectfully, disagree with you.

We have a terrible reputation in this country for undervaluing our own natural resources and the companies that explore for and produce them.  Similarly, any public company in this country suffers from the same short term focus of the investment bankers, who look only at short term performances.  In the example of our natural resource producers, specifically in oil and gas, they evaluate them quarter to quarter and brutally punishthe stock prices of those who may have a stumble in a 3 month period.  In oil and gas, with the seasonal nature of commodity pricing and of access to certain geographic areas, looking year to year and longer is a more rational evaluation of performance.  Why do you think that BMP looked so longingly at Potash Corp.?  Why do you think that Petronas coveted Progress?  Why is it that CNOOC pursued NEXEN?  Where were the Canadian investment banks and the Canadian investors that they represent?  They sure weren't stepping up and hitting the same numbers that those outside this country did, were they?

I think its about time we expected our investment banks to be far less insular, having less tunnel vision and put the context of the longer term value of all of our public businesses in a different light.