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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Buckey who wrote (5743)	12/16/1998 9:43:00 AM
From: Kerm Yerman	Read Replies (2) of 24899

John L / Russia Play I was interested some time ago in a couple companies who were to operate in Russia, but have since squashed the interest. However, there is one situation I'm watching with interest only and it is occurring in Azerbaijan. A little company known as AB Geoscience, thru their wholly owned subsidiary Commonwealth Oil & Gas Company Ltd., just signed an agreement with the country (over 2-years in the making) for on-shore development (with ARCO) of a large tract of land. It is my understanding that AB Geoscience is only one of a few companies granted approval at this time. I do know many large companies are trying to get in on the plays in this area. I saw a television program, Sixty Minutes or similar type show, that featured Azerbaijan's potential with oil and gas. It was very impressive. However, there may be a stability problem - but the major companies trying to get in don't think so. They are forty years behind in technology and the reserves are definitely there. Also, I am under the understanding that operations there are not tied to the Russian Ruble.

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