3SOF

What is this for BS, Lukoil offering only 2B for NLG.TO

With an office in Birmingham, AL the potential in getting contracts from insurances Co and others for water restoration and mold remediation is huge.

interesting article on Mold in the aftermath of Hurricane Katrina

http://pdfserver.emediawire.com/pdfdownload/278628/pr.pdf#search='mold%20hurricane%20katrina';

and water restoration

with presence in Birmingham, AL opportunities for HOM in the water restoration business are huge

http://pdfserver.emediawire.com/pdfdownload/278628/pr.pdf#search='mold%20hurricane%20katrina';

From the Yahoo message board - last sentence about NLG

GOOD NEWS: Bear Stearns: $60 base.
Key Points
*** BID CONFIRMED - ANTICIPATE OTHERS - BID DOESN'T EQUAL A DEAL. On the back of several press reports suggesting an imminent bid by PTR or ONGC, PKZ mgmt confirmed that it has received a bid for all outstanding shares but that the process would continue (i.e., other bids would be welcome). We do not believe PKZ has to do a deal, therefore offers need to be attractive (i.e., above $55/sh)
*** WHY SHOULD THE PKZ BOARD ACCEPT A LOW BID? In light of the strong commodity, it remains surprising that the market appears to believe that PKZ could be sold for less than $50, something we hope the board recognizes would not be an acceptable deal.Using $50/bbl WTI in 06, PKZ is trading at 2.4x EBITDA, 5.4x EPS & $5.92/2P boe, with production 30% below capacity. Net cash stood at $5/sh at 2Q05.
*** WE OUTLINE WHY WE FEEL PKZ IS WORTH $65 - OUR TARGET IS $59. In light of the current commodity, we project PKZ will be generating >$800 mn/yr using $40/bbl oil beginning in 2007 for 7 yrs. Discounted back at 14% that is worth $4.6 bn assuming limited replacement beyond EOR. Our assumption for China pipe improvement is material & worth $500mn. With $23/bbl netbacks, PKZ is worth $9/bbl today.
*** DOES A PURCHASE HAVE TO OCCUR - WE DON'T THINK SO. We've long suggested a more complicated M&A agreement with multiple partners might occur. We believe PKZ would pay for political freedom and backlog in a deal that might leave the company public but worth far more. The Chinese have the biggest incentive to do this deal and not lose it to partners or the Indians. We outline the options.
*** BUY THE MEDIA-DRIVEN NOISE - PKZ HEADED HIGHER. Has PKZ moved too far to fast? We don't think so, especially considering the performance of the group and cost of oil assets throughout the world. Kazakh netbacks remain some of the best in the industry in light of the favorable gov't both PKZ and Nelson substantially undervalued and rate both Outperform.