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Gold/Mining/Energy : denison mines
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To: Lalit Jain who wrote (114)9/12/1997 6:09:00 PM
From: Lalit Jain   of 301
 
Financial Times of London reporter, Kerin Hope says that Greece & Turkey are at odds in developing the oil fields off the Greek Islands in the Aegean Sea due to territorial dispute.

While surveys in the 1970s indicated that are several promising hydrocarbon deposits in the North Aegean sea, the dispute with Turkey has meant that only one field ( THE PRINOS OIL & GAS FIELD) has been developed, which lies in the Greek territorial waters.

The North Aegean Petroleum Company, an international consortium, invested more than US$700 million in developing the Prinos field, the biggest single foreign investment in Greece to date. Denison Mines owns 68 per-cent of the consortium.

Regards, Lalit Jain
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