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

To: Big Dog who wrote (65043)	4/20/2000 8:49:00 AM
From: Big Dog	Read Replies (3) \| Respond to of 95453

For you PKD fans...looks like things are heating up. big BP, BG soar on big oil find By Peter John, Joel Kibazo and Michael Sawh Published: April 19 2000 18:01GMT \| Last Updated: April 20 2000 10:54GMT The prospect of a huge oil discovery in the Caspian Sea started to take root among oil and gas analysts and put some sparkle into BP Amoco and BG, two of the parties involved in the exploration. Comments by the president of Kazakhstan that the situation in the new field was "extremely favourable" led to hopes that the drilling consortium might be on the verge of one of the biggest finds for years. Okioc, the Offshore Kazakhstan International Oil Company, said on Wednesdaythat it was "in the final stages of drilling the first exploration well in Kashagan East." <<Big Dog note: This is being drilled with Parker Rig 257.>> A spokesman in Kazakhstan said the drilling would be finished in "the next few weeks" after which the consortium's geology experts will carry out tests. He said the comments from the Kazakhstan president were made independently and did not come from Okioc. He would not comment on the potential size of the reserves but some analysts believe the field could carry up to 30bn barrels, making it one of the largest ever. BG, which has a 14 per cent stake in the consortium, is seen as the geared play into any finds because it is much smaller than the majors. Its shares went up 61/4 to 3701/2p while BP Amoco gained 141/2 to 5201/2p.