Thursday, October 11, 2007
CHINA OILFIELD TECHNOLOGY SERVICES GROUP LIMITED---IPO
Established in 1995, China Oilfield is a major one-stop customised solutions provider of integrated tertiary oil recovery equipment and technology to enhance oil extraction in the Daqing oilfield region in PRC.The Daqing oilfield is one of the first oilfields the the PRC to adopt tertiary oil recovery technology.
Oil price is hovering at all time high and analysts predict that oil prices may hit US$100 per barrel in the coming year. I dont see any reason why this new IPO will not do well. With the current S-shares fever, I reckon that this share will trade at something much higher that its current 22.8x FY06 PE.