BP Capital Management’s second quarter SEC filing shows that the hedge fund manager is focusing solely on energy companies these days. While the firm’s founder and Chief Investment Officer T. Boone Pickens has been publically supporting clean energy technologies, his stock portfolio suggests that he is still a strong believer in dirty energy. After selling-out of its basic materials sector holdings, the fund now holds 100% of its portfolio in the energy sector, specifically oil and natural gas companies.

BP Capital’s top holding, offshore oil drilling and exploration company Transocean Inc, was trimmed over the quarter by 125,000 shares / $9.2mm.

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Tags: basic materials, believer, bp, bp capital management, chief-investment-officer, clean energy technologies, energy companies, energy sector, exploration company, hedge-fund-manager, materials sector, natural gas companies, offshore oil drilling, rsquo, stock portfolio, t boone pickens, transocean, transocean inc

West Palm Beach (HedgeCo.net) – Canadian mining, development and exploration company, Frontera Copper Corporation, has agreed, due to the recent downturn in the copper market, to Mexican hedge fund Invecture’s hostile take over bid.

After determining that the hedge fund, Invecture Group, S.A. de C.V’s, offer was superior to the offer previously received from Southern Copper Corporation, the Company’s financial advisor, RBC Capital Markets, said that from a financial point of view, the hedge fund’s offer is fair to Frontera shareholders.

Frontera’s principal activity is the production of copper cathode from the Piedras Verdes run-of-mine heap-leach copper operation in Sonora, Mexico. Based on the January 1, 2008 ore reserves and the estimated recoverable copper contained on the leach pads at December 31, 2007, approximately 1 billion pounds of copper is projected to be produced over the remaining 17-year life of the operation.

Alex Akesson

Editor for HedgeCo.Net
Email: alex@hedgeco.net

Tags: accredited-investors, copper cathode, copper market, december-31, downturn, exploration company, heap, hedgeco, leach, mining development, ore reserves, palm-beach, principal activity, rbc capital markets, recoverable copper, sonora mexico, southern copper