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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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Nov 21 4:00 PM EST

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To: TobagoJack who wrote (39008)	8/19/2008 8:32:42 AM
From: elmatador	of 217927

Geologist: Brazil oil reserves maybe 55B barrels The Associated PressPublished: August 19, 2008 BRASILIA, Brazil: A prominent geologist says Brazil's offshore oil reserves could hold as much as 55 billion barrels of crude. Marcio Melo, president of the Brazilian Association of Petroleum Geologists, says studies suggest reserves in the ultra-deep pre-salt layer may contain several times more oil than initially estimated. He says there also could be another 10 to 15 billion barrels at other locations along the coast. Melo says the extent of reserves will be clear only after more extensive drilling. Brazil recently announced several new finds off the coast of Rio de Janeiro state. It has estimated they could contain 8 billion barrels of recoverable light crude. State oil company Petrobras declined to comment Monday on Melo's estimate.

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