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I work for a stock brokerage firm and I've been keeping track of how our clients are voting.

Overwhelmingly, they are choosing Chevron's bid....in spite of the fact that CNOOC had a better offer.

I work for a stock brokerage firm and I've been keeping track of how our clients are voting. Overwhelmingly, they are choosing Chevron's bid....in spite of the fact that CNOOC had a better offer."

Obviously there were certain risk premiums outweighting the superior "Cash" offer of the PLA, oops, I mean CCCP, oops, I mean PRC, oops, I mean CNOOC....

Pulling their unsolicited bid now in the middle of the voting shows that their solidity just isn't there. Everything is a matter of government whim...and the government doesn't like to lose face.

Very Big Chinese Characteristic, face. By yanking that bid now they save face...albeit only a little. From their viewpoint they are saving face. Not realizing how it looks from an American investor's viewpoint, who must recognize the flightiness and patently non-business motivations underpinning their bid.

This will make any future bids that they offer, which happen to have any discretionary contingencies in them,...complete non-starters for lack of credibility.

I work for a stock brokerage firm and I've been keeping track of how our clients are voting. Overwhelmingly, they are choosing Chevron's bid....in spite of the fact that CNOOC had a better offer.

Is patriotism/national security the factor, in your opinion?