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Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: anyer who wrote (5411)	11/26/1997 10:08:00 PM
From: qdog	Read Replies (1) \| Respond to of 11888

Yes technology has advanced the success rate. They still do drill "dry" holes. OPEC is considering raising their production rate, which the Saudi's can produce nearly 3 million extra per day, TOMORROW. It is, in fact, in place to do it. No additional cost or delay. There is also the de-monopolization of Venezuela oil industry and a very prolific and proven area. The amount of interest is extremely high. There is Colombia bring on line nearly 500,000 bopd, the deep water Gulf is online to produce an additional 1 mil by 1999 I believe. Noth Sea is bringing more production online. So yes, you could say that there maybe an over production in the near future. The talk in Houston about the resurgence is "cautiously optimistic". There isn't the speculation that existed in the early '80's. Exploration is mapped out 3-5 years.