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The Observer: Roll out the barrel

Sunday November 11 2007
Richard Wachman

Looking for a home for your money? Search no further than BG, the oil and gas group. The company has long been a takeover target for the majors such as BP or Shell, but that’s not the reason to buy. News from Brazil suggests that a project where the company holds a 25 per cent stake has hit the jackpot with estimated reserves of around 8 billion barrels of oil, much more than forecasts. BG, headed by Frank Chapman, is a junior partner in the offshore Tupi field with Brazil’s Petrobras, but the rewards could be considerable, according to analysts at CSFB – who have raised their price target to 1100p.

http://www.guardian.co.uk/business/2007/nov/11/marketforces.businessandmedia

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