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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (44128)5/6/1999 10:40:00 AM
From: PartyTime  Read Replies (1) of 95453
 
You can't be in Colombia without being partnered with Ecopetrol, the state-owned Colombian oil company. I believe Seven Seas is also in Colombia. It's oil policy is reflective in a sense it has always bemoaned the success of Venezuela with oil and wishes to emulate. I think there are some good deals for U.S. oil companies in Colombia.

Interestingly, the whole TRGC debcle began there. It's where the CEO, Sid Sers, simultaneously set up a Colombian company, Trinicol and a U.S.-based company, TRGC. He grabbed the U.S. investors' TRGC money and funneled it into his Colombian company. Wanted by the courts and the SEC, he remains in Colombia.

What happened to those wells? What happened to Sers? Who knows? Eventually, however, TRGC went into bankruptcy. It now is recovering quite nicely. Recommend TRGC be put on radar screens for future tracking.

One thing is quite clear. Operating in Colombia is not easy. But there are some good operations which eventually could prove fruitful.
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