which plays into my hand exactly - i.e. I'm betting on the shape of the
'peak' curve becoming an "Inverted-J" through various and sundry means, one
of which may be like this...
Perry
----- Original Message -----
From: Mark Jones <[EMAIL PROTECTED]>
To: crl <[EMAIL PROTECTED]>
Sent: Monday, October 02, 2000 03:23
Subject: [CrashList] FT: Colombia signs new oil agreements
>
> By James Wilson in Bogota
> Published: September 29 2000 23:45GMT | Last Updated: September 29
> 2000 23:51GMT
>
>
>
> Colombia's oil industry received a shot in the arm on Friday when 13
> exploration and production contracts were signed with foreign and
> domestic investors.
>
> The contracts will lead to around $620m of investment over the next
> six years, according to Alberto Calderon, president of Ecopetrol, the
> state-owned oil company, which will take a share of the extra oil
> production.
>
> Talisman Energy and Alberta Energy, two Canadian companies, were among
> the winning bidders, along with Cepsa of Spain and Texas Star Oil and
> Gas of the US.
>
> Colombia has struggled over the past decade to attract fresh
> investment in its oil sector, prompting fears that the country would
> become a net oil importer by 2003, but has reawakened interest this
> year by sweetening contract terms for investors.
>
> Mr Calderon said the fresh investment in production should keep
> Colombia self-sufficient until around 2007. He added the bidding
> round, over nine months, was the most successful Colombia had carried
> out.
>
> Oil is Colombia's largest foreign exchange earner and exports were
> worth around $2.2bn in the first half of the year.
>
> Colombia hopes to be producing around 1m barrels a day by 2010, from
> the present 730,000 barrels daily. The new contracts are expected to
> contribute around 100,000 barrels per day towards the 1m target.
>
> Foreign investors have been wary because the oil sector, whose
> companies often operate in isolated areas, is a frequent target of
> leftwing guerrillas in long-running conflict with the government. The
> pipeline that pumps crude from fields operated by Occidental, the US
> company, has been bombed more than 60 times this year.
>
>
>
>
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