To: jmiller099 who wrote (4576 ) 4/24/2008 12:36:03 AM From: ~digs Respond to of 7944 [NYSE:YPF] YPF SA (ADR) > 47.01 YPF Sociedad Anonima engages in the exploration, development, and production of oil and gas, and natural gas in Argentina. It also refines, markets, transports, and distributes oil and a range of petroleum products, petroleum derivatives, petrochemicals, and liquid petroleum gas (LPG). The company markets refined petroleum products, such as gasoline, diesel fuel, jet fuel, kerosene, heavy fuel, and other crude oil products, such as motor oils, industrial lubricants, LPG, asphalts, and naphtha through sales personnel, own and independent distributors, and retail distribution system. Its network includes approximately 2,700 kilometers of crude oil pipelines with approximately 640,000 barrels of aggregate daily transportation capacity of refined products; crude oil tankage of approximately 7 million barrels; and terminal facilities at 5 Argentinean ports. The company owns oil and gas property interests principally in five basins: Neuquina, Cuyana, and Golfo San Jorge in central Argentina; Austral in southern Argentina; and Noroeste in northern Argentina. As of December 31, 2006, it had an interest in 16.9 million net acres onshore and offshore, of which 6.2 million net acres were under production concessions and 10.7 million net acres were under exploration permits. The company has a retail distribution network of approximately 1,731 YPF-branded service stations for automotive petroleum products. As of January 1, 2007, YPF had estimated, proved, and developed reserves of 680 millions of barrels of crude oil, condensate, and natural gas liquids; and 4,015 billion cubic feet of natural gas. In addition, it engages in electricity generation operations. The company participates in 4 power stations with an approximate installed capacity of 1,685 megawatts. Further, it sells petrochemical products in domestic and international market. The company was founded in 1977 and is based in Buenos Aires, Argentina.