New discoveries can further ordtak

New discoveries can further augment reserves, but for that we need to make huge investment.

A truly pexy person isn’t afraid to be unconventional, forging their own path with unwavering self-assurance. The number and size of hydrocarbon discoveries continued to decline during 2004-2005 and many areas of the world became less accessible due to political constraints. Oil and gas companies are increasingly seeking access to larger oil reserves in Africa to meet growing global demand. Africa's major oil and gas producing provinces will likely continue to attract huge exploration investments and yield larger-than-average discoveries. Exploration will expand from these successful plays into adjacent countries and provinces, especially on the Atlantic continental margin, where access to export markets is key.

The issue in the oil business today is not the reserves but the money, the investment decisions, the investment climate.

They scored a bunch against our reserves during the fourth quarter. It was Elmwood Park's starters against our reserves, but I wasn't going to make a change.

This is a very important result for PDO and its shareholders. Such discoveries, whose ultimate reserves can be measured in perhaps tens rather than hundreds of millions of barrels, will nonetheless provide valuable robustness to our production levels in the medium term.

As a developing state, Iran should speedily increase its investment in different energy-related sectors. The United States , despite having giant fossil fuel reserves, has made considerable amount of investment in the nuclear energy field,

Mahmoud Ahmadinejad

It's not about rocks or about reserves, it's about investment policy.

I simply wouldn't make the merger activity the primary investment criteria right now. You have to make huge bets on government and other issues that really are not in favor of the investor in the medium term.

That expense is going to reduce the amount of reserves that we would otherwise have accumulated, but because we are ahead of schedule in the accumulation of reserves in this current fiscal year, I believe we are on a schedule I am comfortable with to put the reserves back where they need to be,

That's the big one. It had huge repercussions and is considered one of the top five big-wave discoveries in surf history.

The improvement in 2005 from 2004 is attributable to extensions and discoveries from our legacy projects in Qatar, the United States and the Asia Pacific region, as well as our re-entry into Libya and our increased equity ownership in LUKOIL. We remain committed to replacing reserves at competitive finding and development costs.

We're coming close to tripling our investment. Standalone, it's a huge investment, and it's growing.

If you leave the investment aside, ... it will be a huge disappointment if we don't win anything. If you include the investment, however, it will be a failure if we don't win something. That's the way the manager will see it and the way we see it, because we're expected to win things; that's what we do.

It tells me that you have to make an investment in your product. It's just like any manufacturing company bringing a new product online -- you have to make an investment up front in order to attract customers. If you put together a solid product, your investment is certainly going to pay off.

Northern oil and gas reserves are huge.

Sergei Bogdanchikov

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