ConocoPhillips Needs To Clean Up China Mess But Stock Looks Good

ConocoPhillips will face a lawsuit from The China State Oceanic Administration (SOA) for the oil leak in platform B and C of the Penglai 19-3 oil field. According to the China, ConocoPhillips has to date been unable to seal off the source of the leaks. However, the event has not caused any perceptible difference to the company's stock which is presently trading at a 20% discount to our $80 price estimate for Conoco.

Source: http://www.forbes.com/sites/greatspeculations/2011/08/24/conocophillips-needs-to-clean-up-china-mess-but-stock-looks-good/

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