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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: R2O who wrote (101723)5/28/2008 12:38:47 PM
From: Aggie  Read Replies (1) of 206089
 
R20,

It's very transparent and there is little question these are a significant find. These are giant fields that have been discovered, probably the biggest discoveries in over 20 years. They will take more than a handful of wells just to get the size of the fields reasonably well delineated. The extent of the reserves boost is such that Brazil will now join OPEC as a member of strong standing. And they are not done discovering the extent of the sub-salt deposits yet.

If you do a search on "Tupi, Brazil" and "Carioca, Brazil" for starters, you will mine a wealth of information about this. Petrobras is talking about budgets in the hundreds of billions (USD) to buy high-spec drillships, FPSO's etc. The potential scale of the enterprise is staggering.

Regards,

Aggie
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