Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: BigBull who wrote (41913)	4/8/1999 11:34:00 PM
From: JungleInvestor	Read Replies (2) of 95453

Hey, BigBull, Popeye's buddy Brutus is going to give a boost to our favorite highly-leveraged company. Aint leverage great when times are good!! Thursday April 8, 8:41 pm Eastern Time Shell Oil to invest $900 mln in Gulf project HOUSTON, April 8 (Reuters) - Shell Oil Co. said on Thursday it planned to spend $900 million to develop a major deepwater oil and gas discovery in the Gulf of Mexico. Named for cartoon character Popeye's arch-nemesis, the Brutus field, located 165 miles southwest of New Orleans is thought to contain over 200 million barrels of oil equivalent. The announcement by the Royal Dutch/Shell group unit is a potent sign of the Gulf of Mexico's vitality, coming less than a month after a lackluster government lease sale for the province. It also underscores the long-term nature of deepwater oil and gas production.

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