|New Threads Only:|
|New Threads & Replies:|
Forum List » Guru News and Commentaries|
Guru News, Stock picks and commentaries
Wilbur Ross Joining Hands with China on Natural Gas
Posted by: Dheeraj Grover (IP Logged)
Date: September 27, 2012 04:23PM
Well-known Guru Wilbur Ross of WL Ross & Co was on CNBC to discuss natural gas and said he is looking for a stake in China's share in a JV with EXCO Resources (XCO). Wilbur Ross has a 14% stake in Exco Resources.
-- Ross is participating in first auction for the natural gas blocks through EXCO with a JV partner in Chinese.
-- Investing in China shale gas is like investing in Wild West. It is still the early days. China has a lot of reserves but has only drilled about 63 wells so far. They have a long way to go, but there is lot of potential.
-- China's economy is slowing but still has 6% growth expected which is much better than a lot of western nations.
-- It is a lot harder to drill in the kind of reserve and geography China has than the U.S. It will be costly to drill, but low labor cost will compensate for that.
-- Main issue with drilling in China is water, as fracking uses a lot of water, but overall drilling will still be much cheaper in China than the U.S.
Credit and source: www.cnbc.com, CNBC
Here is the video:
Guru Discussed: Wilbur Ross: Current Portfolio, Stock Picks
Stocks Discussed: XCO,
Disclaimers: GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.