YPF shares fall more than 15%

YPF shares slid 15.49% in the New York Stock Exchange, the first trading day after the disclosure of Chubut intention to terminate the company all exploration areas in that province and under a day when there was speculation about a presidential announcement of the purchase of securities of the company.

The shares fell 15.49%, so that the roles of YPF was trading at 24.01 dollars, when they had opened the trading day at $ 27.44.

On Saturday, the governor of Chubut, Martin Buzzi, announced it had decided to remove all the oil concession areas, after the three had already taken in the middle of the official climbing against the company.

Among the areas that would operate YPF is the Behr Springs, which accounts for 10% of the country's total production and, according to the company last year received an investment of over 9% of that received in 2010 .

The drop in oil shares were also in the beginning of a week that could enter the Congress a bill to declare public utility and oil exploration that would lead to the taking by the State of more than 30% of the shares of the company, which will enable Argentina to become the first minority in the directory of YPF.

Thus, the more you collapse the shares, less the value of the company and less money will need to acquire desembozarse. The reduction also benefits the speculators who do business with the titles.

For time is the version that the government would seek to buy the shares belonging to the family Ezkenazi and part of belonging to Repsol in order to declare public interest to 35 percent of the shares of the company.

Also, the national executive should negotiate with the banks that gave credit to Eskenazi, as its shares are pledged, and guaranteed loans.

The study comes amid the onslaught of various oil provinces on the company that took away several exploration areas by lack of investment