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Gold/Mining/Energy : ARU.V Aurelian Resources Inc -- Ignore unavailable to you. Want to Upgrade?

To: Proud Deplorable who wrote (444)	12/18/2007 4:37:14 PM
From: sageyrain	Read Replies (1) \| Respond to of 516

does he work for a certain major mining company?

To: Proud Deplorable who wrote (444)	12/18/2007 4:43:59 PM
From: StockDung	Respond to of 516

Court sides with U.S. oil firm over Ecuador tax row Wed Nov 21, 2007 10:30am EST QUITO (Reuters) - An international tribunal has ordered Ecuador to temporarily halt demands to charge U.S.-owned City Oriente a controversial windfall oil tax approved last year, according to court documents released by the company Wednesday. The action by the World Bank International Center for Settlement of Investment Disputes could help other foreign oil companies make their case against the windfall tax that they say hurts their operations in South America's No. 5 oil producer, industry sources said. President Rafael Correa shocked investors in October by hiking the tax to 99 percent from 50 percent of the extra oil revenues generated by companies above a contractual price. Correa, who plans to boost state control over the key oil sector, also wants companies to switch to contracts in which the state will keep all the oil they extract in exchange of a service fee. Most companies have already started talks with the government over the tax and new contracts. Spain's Repsol and China's Andes Petroleum have threatened to seek international arbitration against Ecuador over the tax hike. An oil ministry spokesman declined to comment on the court's ruling. The Ecuador attorney general's office has refused to recognize the tribunal's jurisdiction in this case and has not assigned defense lawyers, a government spokesman said. City, a Panama-based company that produces around 3,000 barrels of oil per day, filed an arbitration claim against Ecuador last year to challenge the windfall tax. Ecuador's state oil company earlier this month called for the termination of the contract with City for refusing to pay $28 million in windfall royalties. A contract termination could lead to the state take over of the companies' assets. Petroecuador chief Carlos Pareja told Reuters the company "will seek to charge those debts despite the court's ruling." Among the provisional measures the tribunal has also ordered Ecuador to refrain from seeking legal actions against the company. These measures are temporary because the tribunal still has to make a final ruling on City's claim. Other companies affected by the windfall tax hike includes Brazil's Petrobras and France's Perenco. Private oil companies extract nearly half of Ecuador's daily output of 500,00 barrels. (Reporting by Alonso Soto; Editing by John Picinich) © Reuters 2007. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world. Reuters journalists are subject to the Reuters Editorial Handbook which requires fair presentation and disclosure of relevant interests.

To: Proud Deplorable who wrote (444)	12/18/2007 4:45:35 PM
From: StockDung	Respond to of 516

Oil giants upset with Ecuador's tax rise President Rafael Correa of Ecuador shocked investors in October by raising the windfall tax from 50 percent to 99 percent, grabbing nearly all the extra oil revenues generated by foreign firms above a set contractual price. This has had a huge impact on PetroChina, Sinopec and Sinochem; they all have investments in Ecuador. It's reported that PetroChina and Sinopec are preparing to seek help from international arbitration organizations. Sinochem has a US$200 million investment in Ecuador; the company is also preparing to renegotiate their contracts. According to Xinhua News Agency, Correa arrived in Beijing on Monday for a week long state visit. Senior officials from PetroChina and Sinopec are expected to meet the Oil Minister of Ecuador to discuss the oil tax. However, insiders said that it is not likely that the Ecuadorian side will compromise. For more details, please read the full story in Chinese (http://www.dfdaily.com/node2/node27/node260/userobject1ai40994.shtml). (China.org.cn November 23, 2007)

To: Proud Deplorable who wrote (444)	12/18/2007 5:05:14 PM
From: Proud Deplorable	Respond to of 516

"I always contend that the Alonso Soto articles only have impact on ARU and no one else. Let's do a summary based on today's trades of the companies that operated down there in Ecuador. ARU - down $0.37 4.97% 782,945 shared traded (he got us good!) IMG - up $0.34 4.37% 1,395,775 shares traded (who's Soto again?) CTQ up $0.06 1.16% 272,265 shares traded DMM down $0.03 0.35% 37,426 shares traded Well, did someone forgot to tell IMG that the end of the world is here (according to Soto) or we just panic too easily? Could very well be the final shakedown of the retails before something major breaks - we hope anyway." nijinsky70