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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)

ECX 1.850

+5.7%

Nov 28 9:30 AM EST

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To: david james who wrote (1228)	12/10/1997 8:35:00 PM
From: Raymond James Norris	Read Replies (1) of 2841

Sources of information on the Terra Nova Energy Project, Grand Banks: Web site: Terra Nova Energy Project. terranovaproject.com Construction from Q4 1997 through 2001. Depletion of field expected in 2020. Note especially: Terra Nova: Procurement Opportunities . terranovaproject.com "SBR Offshore is a joint venture of AGRA ShawMont Ltd., a Newfoundland engineering company, and Brown and Root Energy Services of London and Houston. SBR Offshore will provide overall project management and lead the design and procurement of the FPSO vessel and topsides equipment. SBR Offshore will also assist with construction management of topsides and offshore installation requirements." Also note: Terra Nova: What is Terra Nova? terranovaproject.com " Along with technical and commercial considerations, Newfoundland benefits will be one of the key factors in awarding project contracts. ... Terra Nova costs will be significantly less than Hibernia (pre-production costs of about $1.6 billion versus $5.8 billion for Hibernia). And: Terra Nova Project: Image Map . terranovaproject.com The d*mn thing floats! Now what was that about acquiring the Davies Shipyard? Daewoo Heavy Industries of South Korea is the prime for the floating vessels. Recent news releases: Petro-Canada press release: Yahoo - Petro-Canada to Invest $1.1 Billion i... biz.yahoo.com $300 million to invest offshore Newfoundland in 1998. "Petro-Canada's vision for the Grand Banks is to bring a major new oil field on stream every two to three years." Murphy Oil news release: Yahoo - Murphy says 1998 capital budget $539 mln biz.yahoo.com $137 million in 1998 for Terra Nova and other Canadian developments. Preliminary work set to begin shortly: Yahoo! - Work set to begin on Terra Nova oilf... biz.yahoo.com More exploration on the Grand Banks: Yahoo - Familiar names win Canada offshore oi... biz.yahoo.com An opposing viewpoint: Terra Nova Forum - Reading 199.243.225.50 Seems that some folks in Canada want to capture the benefits of their natural resources. Suit was filed in Supreme Court of Newfoundland back in February to attempt to force the decision-making panel to consider the economic effects of the proposed development. Hibernia was consider by some to be a boom-and-bust. Best to all. -mike Courtesy Of ArtPhilly Conservatively Yours, Raymond J. Norris

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