Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: energyplay who wrote (67225)	8/19/2005 4:32:23 AM
From: elmatador	Read Replies (1) of 74559

Oil field starting at R$1.000. If you thought oil business was only for Petrobras, Shell, Exxon and other giants, you might be mistaken. Brazil's ANP (the oil regulator is auctioning oil fields for as low as R$1.000 to R$1.000. 17 blocks of inactive areas with marginal acummulation. Wants to attract small enterprises. ANP found several fields that Petrobras was not interested and they will abandon them. To test the idea the Quiabina pilot field was developed by Bahia's University to test of the idea was economic viable. It invested R$ 300.000 and produced 10 mil barrels last year. Sold the oil to Petrobras at a profit of between US$ 4 million to US$5 million E nesse trabalho a gente identificou uma série de ações que tivemos que fazer, como negociar pagamento de aluguel de sonda a prazo, com um carnê - diverte-se o diretor. To participate in the auction one need minimum R$10.000. But those are for small production not more than 100 barrel/day. Perhaps a BRE-X type of deal to attract the less cautious. I translated from Portuguese because I couldn't find it in English.

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