It’s been an exciting week in the London oil sector. Sam Wahab, oil analyst at Cantor Fitzgerald shares his views on the big energy stories with Proactiveinvestors. On Wednesday came the news that Shell (LON:RDSB) was launching a £47 billion cash and shares offer for Britain’s third-largest energy company, BG. (LON:BG.) Wahab believes that in an environment where assets are more expensive than equities that this is a very good news for Shell since it will significantly enhance its asset base.
The announcement by UK Oil and Gas (LON:UKOG) that there could be as much as 100 billion barrels of oil under the Weald Basin in Horse Hill in the South of England certainly captured the headlines, but Sam Wahab believes that some of the predictions of how much oil could be extracted are over optimistic.
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