Yes, says Fred Lucas of JPMorgan, who notes that BP is trading on an implied reserve multiple that’s 30 per cent below its peers and equal to ExxonMobil’s long run finding and development costs:

This entry was posted by Neil Hume on Thursday, December 16th, 2010 at 14:19 and is filed under Capital markets, M&A. Tagged with Bid, bp, Exxon Mobil, oil, takeover. Edit this entry.