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Strategies & Market Trends : HONG KONG -- Ignore unavailable to you. Want to Upgrade?

To: Stitch who wrote (1448)	3/20/1998 2:01:00 PM
From: Wallace Edward Brand	Read Replies (1) \| Respond to of 2951

This appears to conflict with other reports I have read, which suggest that based on new technology China has proven ample reserves to satisfy its own needs. I regret I cannot recall the citation.

To: Stitch who wrote (1448)	3/20/1998 3:57:00 PM
From: ----------	Respond to of 2951

Stitch: I must profess my ignorance on oil terminology. There are a few U.S. companies that have agreements with China to devlop their oil. I've read in the past in a report by a small company called XCL,Ltd, (Formerly Exploartion Co. of Louisiana), that there is a huge amount of oil in parts of China. BUT, as you point out, getting to it is another matter. I think the huge discrepancy in the two articles MAY deal with the difference in "proven accessible reserves" and "reserves". Again, those term may be technically improper. Another example is Sudan. They have a huge amount of oil. The "catch" is, it is 1500 miles from the coast, the country is in a State of revolt, & rebels have a tendency to shoot at the oil drillers. Running 1500 miles of pipe while "under fire" has not been considered a good investment by any oil company with enough money to bankroll such an operation. Actually, the article I was looking for dealt with the natural resources of China in general. IMO, it is safe to say Europe's natural resources were severly depleted by two world wars. China has theirs. If you will permit me some of my twisted humor, I can envision a phone conversation as follows: CHINA: "Hello, Austria. China here. We have a problem. We've got a few billion tons of primo iron ore but no efficient way to use it." AUSTRIA: "Funny you should call! We just developed the Vienna 4000 ore extractor. But we have no ore. I'm sure we can work something out. Let's see, it's 9:00am now, we can be there by noon." Regards, Doug