Edmonds Spins a New Line in Oil Deals with White Nile

Evening Standard - London › March 10, 2005

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Summary

PHIL Edmonds, the former England cricketer and chief executive of controversial oil explorer White Nile, is claiming his company will turn on its head the way poor countries deal with Western operators in the hunt for new oilfields.

White Nile's shares have rocketed to value the company at Pounds 205 million, despite it not having any physical assets, merely the hope it will strike it rich in Southern Sudan from a licence covering 67,000 sq km of desert.

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Extract

Edmonds Spins a New Line in Oil Deals with White Nile

Influential bear investor Tony Dye warned at the weekend that the boom in the number of oil compan...

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