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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (35564)	6/8/2008 7:03:09 PM
From: elmatador	Respond to of 218050

It's a bad written article. Quoting a presentation without the slides that substantiate Fitch's assertion, is no good piece of information. She just quote the Fitch guy without given the readership some numbers as to show the degree of diversification that warrants what the guy was saying. I read just for the statement: "...less vulnerable than other commodity producers to a decline in international prices for raw materials"

To: Paul Senior who wrote (35564)	6/12/2008 9:10:35 AM
From: elmatador	Respond to of 218050

Brazil IPO for oil company OGX raises US$3.9 billion The Associated PressPublished: June 12, 2008 SAO PAULO, Brazil: A Brazilian oil and gas company controlled by billionaire Eike Batista raised 5.87 billion Brazilian reals (US$3.9 billion) in an initial public stock offering, the company said Thursday. OGX Petroleo e Gas Participoes SA sold 5.19 million shares on Brazil's Bovespa exchange at 1.13 reals (US$0.69) each. The number of shares sold could rise higher and increase the value of the IPO to 6.7 billion reals (US$4.2 billion) if banks exercise options to buy an additional 741,800 shares. OGX last year won exploration rights in high-potential Brazilian offshore oil and natural gas blocks with estimated reserves of 4.8 billion barrels. The IPO was the biggest in Brazil since October 2007, when Bovespa Holding SA, which controls the Bovespa exchange, raised 6.6 billion reals (US$4.1 billion). Shares of OGX were sold in lots worth at least 300,000 reals (US$188,000) to investors in Brazil and the United States. Trading is expected to begin on June 13. Eike Batista is a Brazilian entrepreneur who also created mining and metals company MMX Mineracao e Metalicos SA. OGX holds rights explore areas totaling 2,700 square miles (7,000 square kilometers), according to a study by the DeGolyer and MacNaughton consultancy for OGX.

To: Paul Senior who wrote (35564)	6/12/2008 9:33:58 AM
From: elmatador	Read Replies (1) \| Respond to of 218050

OGX in local press. Starts as 12th company in market value. Bigger than: Eletrobras, Santander do Brasil, telemar norte-leste, telesp gerdau metalurgica, redecard. Above OGX are: PBR, Vale, Bradesco, Itau, Banco do Brasil, Ambev,CSN, Gerdau, Itau Holding, Usiminas.. The blocks OGX holds were cherry picked by who understand about that. A few ex-PBR heavy weights, all with 20 years plus with PBR. Came attracted by the high salaries Batista offered. Former director of exploration and production Paulo Mendonca, Rodolfo Landim former president of Petrobras Distribuidora Former PBR president Francisco Gros Nelson Guitti former finance director of Petrobras Distribuidora OGX plans to slowly and steadily poach PBR people as they go along In Campos Basin, where 80% of Brazil's oil comes from, OGX has 7 blocks. All conveniently located just beside blocks producing. Like Polvo operated by Devon Energy. In Campos OGX plans to be producing by 2011. Other basins by 2014-2015 with big increment after 2016. According to DeGolyer & McNaughton potential OGX oil is 4.835 billion BOE. Almost 1/2 of PBR 11.4 billion BOE. OGX also have blocks in Para-Maranhao new frontier, which has geologic structure similar to that of Ghana where important discoveries have been done recently. Source O Globo in Portuguese