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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Zeev Hed who wrote (7328)11/22/1997 9:24:00 AM
From: Marantz  Read Replies (1) of 9164
 
Zeev, et al <<allocation of the 100,000 barrels per day capacity of the line not used by the consortium.>>

Arakis et al are steadily increasing their proven reserves. Companies operating on neighboring concession are not. If we can use every bit of pipeline capacity to get our own oil to market, I say we should do it. That's more profitable than setting aside a portion of capacity to merely transport someone else's product.

I'll tell you something else. I've been figuring on initial transport of 150,000 barrels per day commencing late 1999. If reserves warrant and pipeline capacity is sufficient to increase that daily figure beyond 150,000, the risk/reward ratio of this situation changes. The risk doesn't change a bit. But, oh the reward...

Yours,
Marantz
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