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Microcap & Penny Stocks : Adair Intl. Oil and Gas (AIGI) -- Ignore unavailable to you. Want to Upgrade?


To: Bill Kinkade who wrote (713)4/11/2000 6:31:00 PM
From: Bill Kinkade  Read Replies (1) | Respond to of 769
 
Yemen oil deal shows up under OXY NEWS.


Tuesday April 11, 10:57 am Eastern Time
Yemen signs exploration deal with oil group
SANAA, April 11 (Reuters) - A group of international oil firms led by Occidental Petroleum (NYSE:OXY - news) have signed a deal to explore for oil in Yemen's block 20, an oil ministry official said on Tuesday.

The group -- which also involves Adair International Oil and Gas (OTC BB:AIGI.OB - news), one private Yemeni firm and a Yemeni state-owned company -- would carry out initial studies and exploration with investment of about $16 million, the official said.

Block 20 is located between the governorates of Marib and Shabwa.

Yemen is an independent oil producer on the southern tip of the Arabian peninsula with output of about 390,000 barrels of crude per day.

There are about 30 foreign firms operating in Yemen.

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