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

To: BigBull who wrote (71154)	8/18/2000 10:02:54 AM
From: Think4Yourself	Read Replies (1) \| Respond to of 95453

I think you hit the new issue right on. The problem has become heating oil levels and refinery capacity. Your post about the maintenance suggests the problem is going to be severe. I wonder how long it will take the analysts to catch on? I suspect the only viable solution will be to import HO. We shall see. Not enough NG and not enough heating oil. If this winter is cold maybe there will be enough gasoline for the folks in the north to move to the south?

To: BigBull who wrote (71154)	8/18/2000 10:07:42 AM
From: BigBull	Respond to of 95453

Exxon Mobil unveils Angola deepwater find LUANDA, Aug 18 (Reuters) - American oil giant Exxon Mobil Corp announced another deep water discovery offshore Angola, the state newspaper reported on Friday. The Saxi 1 well in block 15 produced 5,472 barrels a day of 35 API oil, Jornal de Angola said. Exxon Mobil has a 40 percent stake in the block, 350 km (210 miles) nortwest of Luanda. Partners include BP (quote from Yahoo! UK & Ireland: BP.L) with 26.67 per cent, Italy's Agip with 20 per cent and Norway's Statoil with 13.33 per cent. The find is located in deep water -- between 500 metres (1,640 feet) and 2,000 metres (6,562 feet) -- and will take leading-edge technology to extract. Success at Saxi follows the June announcement of the Mondo well, Chocalho and Xicomba in 1999 and Hungo, Kissanje, Marimba and Dikanka in 1998. TotalFinaElf earlier today reported it had begun drilling the first of 40 wells on the $2.5 billion Girassol development offshore Angola. The project, in block 17, is scheduled to go on line in the third quarter of 2001. Production from block 15 is likely to be three to four years away.