Very interesting. As you say, it looks like a fairly diversified...

Very interesting.
As you say, it looks like a fairly diversified investment shell company.
Superficially, it does not appear to be overly focussed on energy, probably more so on construction & real-estate in the UAE.

CC Energy, however, is very energy centric.

Magna's (LSE) investment decisions would be made by their board of which Watts & Brown control a 20% block.

I guess Magna's interests and intensions towards OEX would be (significantly?) influenced by Watts/Brown.

But, it's hard to see Watts/Brown wanting to personally take full control of and personally manage OEX.
I think they'd more interested in selecting investment opportunities in areas where they have expertise.

Magna Investment's (UAE), the sub-entity of the listed Magna Co (LSE), web site says:

	Column 1	Column 2
0	Column 1 0 Inspired by our Group founders and their vision, Bin Harmal Group, we applied their success guidelines to achieve similar accomplishments and efficiently contribute to building our nation's economy. [ie the UAE]

	Column 1	Column 2	Column 3
0		Column 1 0 The chief objective of MAGNA Investment is to be a reputable entity capable of generating income and long-term capital growth by screening investment opportunities from various sectors while complying with Sharia'a principles. At MAGNA, we aim to become a dominant diversified investment firm in the local market by managing a portfolio of investments that extends beyond national borders. Our commitment to the economy, environment and community will always remain our forte while maintaining an eye for “targeted return on investments”.

	Column 1	Column 2
0		Our Investments criterion and diversified allocations in sectors such as Real Estate, Educational Services, Healthcare Services, Tourism and / or other entities reflects our long term commitment to our society and values. As part of our philosophy, we are keen in building long-standing relationships with our partners & associates that meet our Islamic Profile and help in satisfying our mission. MAGNA was founded on the finest of principles mainly being the work ethics and professionalism of its associates along with a friendly work culture. We are determined to fulfil every objective and ride the waves of success with a group of dedicated individuals, in line with our core values. Sincerely, Ali Saeed Bin Harmal Al Dhaheri

[/table][/table]