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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: BigBull who wrote (48129)	7/17/1999 7:36:00 AM
From: BigBull	Respond to of 95453

And AGAIN.... biz.yahoo.com Somebody is finding the money to DRILLLLLLLLLL. <g> Maybe the reason for the RIG/SLB deal?

To: BigBull who wrote (48129)	7/17/1999 10:36:00 AM
From: Fun-da-Mental#1	Read Replies (1) \| Respond to of 95453

IMO the big oil companies are drilling in Brazil not because they want to do so much exploration right now, but because they can't afford to get left out. If they could just buy up the land and sit on it they would, but they're obligated to develop it as part of the deal with the Brazilians. Brazil is the sleeping giant of the oil business. Its estimated potential reserves rival Saudi Arabia and the FSU. IMHO the only reason Brazil isn't in OPEC is that Petrobras isn't very efficient. I know it has a pretty good reputation outside Brazil, but I've worked in Brazil and believe me, nothing works efficiently there, especially state monopoly organizations like Petrobras. That's why the monopoly has finally been broken. They hate to see foreigners taking their resources, but they figure the total volume of business will be so much bigger that their cut will still come out to more than before. When that Brazilian oil comes on stream, watch out for falling oil prices. This raises the question: what's Petrobras' future? Is PTBRY a good buy now? Fun-da-Mental