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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (51342)	7/1/2004 6:46:20 PM
From: Taikun	Respond to of 74559

OT/ As I wrote yesterday, there is no co-production in Iraq. I saw an interview with Petrel awhile back where they admitted this. Petrel does have some big contracts on three Iraq oilfields but won't share in the several hundred thousand bpd production. Presently, Petrel is primarily an oil services company. Petrel is also losing money. If Iraq enters into co-production agreements, I wonder how Petrel would fare against the majors. As much as Petrel may be apolitical, Iraq is all so political. I have to admit, Petrel's management are a very brave bunch. petrelresources.com