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Strategies & Market Trends : Turnarund Investing -- Ignore unavailable to you. Want to Upgrade?

To: Covenant who wrote (1232)	5/16/2012 2:21:25 AM
From: Covenant	1 Recommendation Respond to of 1876

Brazil Petrobras Could 'Rapidly' Raise Reserves To 30 Billion BOE With Presalt Published May 15, 2012 \| Dow Jones Newswires RIO DE JANEIRO – Brazilian oil and gas producer Petroleo Brasileiro SA (PBR, PETR4.BR) may "rapidly" raise its oil and gas reserves to 30 billion barrels of oil equivalent as a result of massive presalt oil discoveries, a Petrobras executive said Tuesday. This would be around double current reserves of around 15 billion BOE, 80% of which are in deep waters, Petrobras executive manager Osmond Coelho Jr. said at an event in Rio de Janeiro. Brazil's main presalt oil and gas reserves stretch over an area of 150 square kilometers, Coelho said.