M&A Update: CNOOC volatility flat into renewed report of TLM interest

DJIA	-171.63	11,543.55
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Posted May 27th 2008 9:00AM by Paul Foster
Filed under: Rumors, Shareholders

CNOOC Ltd. (NYSE: CEO) closed at $185.35. The Globe and Mail says long-held speculation that China is seeking to buy Canadian oil and gas companies resurfaced yesterday, as a Chinese newspaper (South China Morning Post) reported the China National Offshore Oil Corp (CNOOC) CEO may be looking to acquire Talisman Energy (NYSE: TLM).

CNOOC over all option implied volatility of 46 is near its 26-week average of 47 according to Track Data, suggesting non-directional risk.

M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Tags: China National Offshore Oil Corp CNOOC, ChinaNationalOffshoreOilCorpCnooc, option implied volatility, OptionImpliedVolatility, Talisman Energy, TalismanEnergy, The Globe and Mail, TheGlobeAndMail, TLM

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