Canadian Lawyer InHouse

23 CANAdIANLAwyERMAG.COM/INhOUSE october 2014 growing interest in Mexico amongst Ca- nadian companies, many players are still skeptical. "I think the big thing that everyone's asking about is, is this real? Is there trac- tion this time around, because they've gone down this path a number of times before and it's always sort of fallen on its face one way or another," he says. According to Keays, some small- and mid-cap fi rms, along with the service com- panies that had already been operating in Mexico, have shown a greater interest than larger oil and gas corporations. "There are a lot of people that are sniff- ing around this and trying to get in front of the curve on reforms and understand what's going on and strategizing how to go about entering Mexico and what the best approach would be," he says. Cruz Rico has also seen an increase in the number of energy companies approaching him with interest in Mexico. "The people who have approached me mainly want to know how things are work- ing, what the policies involved and who the key players are," he says. "And the most im- portant part is how they would be able to participate once everything is in place." But Keays thinks as the various bid rounds progress, Canadian com- panies will take a closer look at Mexico. I think that's just sort of an awareness question and as the reforms have gained a lot more traction, it's starting to have a much more real feel to it." Frank Alexander, an oil and gas lawyer at Dentons Canada LLP, says while the re- forms certainly make a much more attrac- tive destination for oil and gas companies, some questions remain unanswered. "Most countries in the world that have petroleum regimes offer what we call sta- bilization," he says. "So essentially it means they're still sovereigns, they still have the legal power to pass any law they want, but if they do pass such a law unilaterally damaging the fi scal position of the oil company, then the oil company will be entitled to damages." Only a handful of very developed coun- tries, like Canada, the United States, and TIME: EVENT: 12-month, part-time, executive LL.M. for lawyers and business professionals Advance your career to the next level! Learn important legal and business concepts that can be immediately applied to better serve your clients. Explore the implications of real-life cases in an increasingly complex global business environment. Acquire in-depth knowledge of how the law interacts with both the private and public sectors. For more information please contact Jane Kidner, Assistant Dean Professional Legal Education at j.kidner@utoronto.ca http://www.law.utoronto.ca/programs/GPLLM.html or visit our website: ntitled-4 1 14-06-30 10:24 AM rounds progress, Canadian com- panies will take a closer look at Mexico. I think that's just sort of an awareness question and as the reforms have gained a lot more traction, it's starting to have a much more real feel to it." Frank Alexander, an oil and gas lawyer at Dentons Canada LLP, says while the re- forms certainly make a much more attrac- tive destination for oil and gas companies, '' '' there's recognition internationally that canada has a lot to offer in those technologies and particularly with the service companies and their expertise and experience. ryAN KeAys, Norton rose Fulbright canada LLP.

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