castro, inc. cancels Canadian Oil Deal

Reuters reports:

Pebercan Inc (PBC.TO), a Canadian company that produces oil in Cuba, said on Friday that Cuba’s national oil company has revoked its production-sharing contract and will pay the Montreal-based firm $140 million.

Don’t hold your breath. Canadian suckers!

The company said its partner in the Cuban oilfields, Sherritt International Corp (S.TO), would receive $60 million more from the lump sum payment.

castro, inc. already owes Sherritt more than half a billion dollars. But really what’s $60 million among friends. Double suckers!
No comment from Phil Peters the official mouthpiece for Sherritt in the U.S.

5 thoughts on “castro, inc. cancels Canadian Oil Deal”

  1. it will take much more than $60 million to clean up the nickel mining mess that Sherritt has made… and if Sherritt had to follow canadian mining rules, they would all be in the big house.

  2. It’s a constant source of wonderment to me why companies like Sherritt ever did business with Cuba in the first place! There are so many independent sources out there– accessible to any investor– that places Cuba as one the most risky places to invest in, and yet, there were/remains a steady stream of suckers out investing in Cuba. I just don’t get it.

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