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The published date was El Sureño - Nov 22 6:09 AM
Here's the Yahoo link that shows all spanish articles for "Franklin Oil"
http://news.search.yahoo.com/search/news?ei=UTF-8&.bcrumb=b79843dbb4d294e9301ca7c2a6be429e%2C116...
News from Argentina: They seal agreement with Bolivian company/signature and of USA
http://www.surenio.com.ar/index.php?s=ARgmunqs$$diarios/veo$WW95cj544hin8e9j
INDUSTRIALIZACION DE HIDROCARBUROS
Sellan acuerdo con firma boliviana y de EE.UU.
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Galería de fotos
USHUAIA.- El Gobierno firmó un convenio con las empresas SHG SA, Franklin Oil & Gas y Franklin Minino Inc., encargándoles la realización de estudios sobre la factibilidad de proyectos a instalar en la Isla para la industrialización del gas y sus derivados.
El acuerdo que firmó el ministro de Economía Raúl Berrone con los titulares de ambas empresas fue ratificado mediante Decreto 4300/06, emitido por el gobernador Hugo Cóccaro, el cual señala un plazo de 25 años de duración de los proyectos e inversiones.
Mientras que SHG tiene radicación en Buenos Aires -en avenida Corrientes 545, cuarto piso- la firma Franklin Oil & Gas tiene domicilio en Santa Cruz de la Sierra, Bolivia y la empresa Franklin Minino Inc. en Las Vegas, Estado de Nevada.
Las empresas se comprometen en desarrollar proyectos tales como plantas de procesamiento de gas (GLP), plantas de metanol y otros derivados de gas; indica la carta intención ratificada por el Gobierno.
En este sentido, harán la preparación de un estudio preliminar de viabilidad incluyendo en él la investigación de posibles ubicaciones para cada proyecto en particular, con su correspondiente análisis económico preliminar.
Proyectos
Rosa Martone, vicepresidenta de SHG; y Jaime Malgarejo, presidente de Franklin Oil & Gas y Franklin Minino Inc.; sellaron el convenio con el ministro de Economía, Raúl Berrone, quien lo hizo representando al gobierno provincial.
Cabe indicar que el convenio tiene una cláusula de confidencialidad para que no se divulguen los datos sobre los estudios preliminares que harán las tres empresas encaradas de hacer estas tareas. Así, las partes acordaron que no se revelará información clasificada surgida de esos estudios.
Translation >>>>
HYDROCARBON INDUSTRIALIZATION
They seal agreement with Bolivian company/signature and of EE.UU.
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USHUAIA. - The Government signed an agreement with the companies SHG SA, Franklin Oil & Gas and Franklin Inc. Minino, ordering the accomplishment to them of studies on the feasibility of projects to install in the Island for the industrialization of the gas and its derivatives.
The agreement that signed minister of Economy Raul Berrone with the holders of both companies was ratified by means of Decree 4300/06, emitted by the governor Hugo Cóccaro, who indicates to a term of 25 years of duration of the projects and investments.
Whereas SHG have radicación in Buenos Aires - in avenue Current 545, fourth floor the company Franklin Oil & Gas has address in Santa Cruz of the Mountain range, Bolivia and the company Franklin Inc. Minino in Fertile valleys, Nevada State.
The companies are committed in developing to projects such as plants of gas processing (GLP), plants of metanol and other gas derivatives; it indicates the letter intention ratified by the Government.
In this sense, they will make the preparation of a preliminary study of viability including in him the investigation of possible locations for each project in individual, with his corresponding preliminary economic analysis.
Projects
Rosa Martone, vice-president of SHG; and Jaime Malgarejo, president of Franklin Oil & Gas and Franklin Inc. Minino; they sealed the agreement with the minister of Economy, Raul Berrone, who did it representing the provincial government.
It is possible to indicate that the agreement has a confidentiality clause so that the data are not disclosed on the preliminary studies that will make the three companies faced make these tasks. Thus, the parts decided that classified information will not be revealed arisen from those studies.
Interesting News - Companies of Colombia and the U.S.A. interested in investing in Bolivia
http://www.lostiempos.com/noticias/14-11-06/14_11_06_ultimas_eco9.php
Empresas de Colombia y EEUU interesadas en invertir en Bolivia
14-11-2006 - 15:14 h.
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La Paz | EFE
Las compañías colombianas Promigas y Llanogas y la estadounidense Franklin Oil Gas están interesadas en desarrollar en Bolivia un proyecto de industrialización del gas natural con la instalación de una planta para fabricar gasóleo.
El gerente en Bolivia de Franklin Oil Gas, Darwin Hurtado, y el asesor económico del municipio andino de Ayo Ayo, Javier Aguirre, informaron hoy a Efe de que el proyecto será anunciado mañana en esa localidad en un acto al que fue invitado el presidente, Evo Morales.
Explicaron que el plan será de carácter piloto y consiste en montar en esa población del altiplano, situada a 80 kilómetros al sur de La Paz, una planta que elabore 200 barriles diarios de gasóleo con una inversión de entre 13 y 16 millones de dólares.
La empresa estatal Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) será socia del negocio, y las compañías colombianas tendrán a su cargo la construcción del gasoducto que proveerá del energético a la planta, indicaron las fuentes.
Aguirre indicó que, entre el 4 y el 13 de noviembre, visitó con ejecutivos de Franklin Oil varias ciudades de Colombia, entre ellas Cali y Barranquilla, para conocer el trabajo de Promigas en el transporte de los hidrocarburos.
El funcionario municipal, que se entrevistó hoy con el viceministro de Industrialización del sector, William Donaire, dijo que las empresas colombianas esperan concretar pronto una visita a Bolivia para discutir los acuerdos preliminares con el Ejecutivo.
La compañía estadounidense tiene además firmado con YPFB un acuerdo para construir otra planta a mayor escala, para la obtención de 10.000 barriles diarios de gasóleo, en el departamento oriental de Santa Cruz, con una inversión de 230 millones de dólares.
Según Hurtado, unos 6.000 barriles ayudarán a cubrir el déficit diario que tiene el mercado interno y el resto será exportado por la estatal petrolera boliviana.
El gobierno de Morales nacionalizó en mayo pasado el sector de los hidrocarburos y negoció nuevos contratos con una docena de empresas multinacionales para que continúen sus operaciones en el país.
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Companies of Colombia and the U.S.A. interested in investing in Bolivia
14-11-2006 - 15:14 h.
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La Paz | EFE
The Colombian companies Promigas and Llanogas and the American Franklin Oil Gas are interested in developing in Bolivia a project of industrialization of the natural gas with the installation of a plant to make gasohol.
The manager in Bolivia de Franklin Oil Gas, Stolen Darwin, and the economic adviser of the Andean municipality of Ayo Ayo, Javier Aguirre, informed today to Efe into which the project will be announced tomorrow in that locality in an act to which the president was invited, Evo Morales.
They explained that the plan will be of character pilot and consists of mounting in that population of the plateau, located to 80 kilometers to the south of La Paz, a plant that elaborates 200 daily gasohol barrels with an investment of between 13 and 16 million dollars.
The state company Oil fields Fiscal Bolivians (YPFB) will be partner of the business, and the Colombian companies will have to their position the construction of gasoducto that will provide with the power one to the plant, indicated the sources.
Aguirre indicated that, between the 4 and the 13 of November, she visited with executives of Franklin Oil several cities of Colombia, among them Cali and Barranquilla, to know the work Promigas in the transport of hydrocarbons.
The municipal civil employee, who entrevistó today with the vice-minister of Industrialization of the sector, William Donaire, said that the Colombian companies hope to make specific a visit to Bolivia soon to discuss the preliminary agreements with the Executive.
The American company has in addition signed with YPFB an agreement to construct another plant on greater scale, for the obtaining of 10,000 daily gasohol barrels, in the Eastern department of Santa Cruz, with an investment of 230 million dollars.
According to Stolen, about 6,000 barrels will help to cover the daily deficit that has the internal market and the rest will be exported by state the oil Bolivian.
The government of Morals nationalized in last May the sector of hydrocarbons and negotiated new contracts with a dozen of multinational companies so that they continue his operations in the country.
New accord would be signed between some 20 multinationals and the government - Is Franklin Mining Oil and Gas part of this deal. If so, it would be a great news for the company.
Bolivia brokers deal with foreign energy firms: government
http://news.yahoo.com/s/afp/20061027/bs_afp/boliviapoliticsgasoil_061027192947
LA PAZ (AFP) - Bolivia's government has reached an agreement with foreign energy groups operating in the Andean country, amid efforts by leftist President Evo Morales to nationalize the energy sector, the government said.
A spokesman for Bolivia's oil and gas ministry said a new accord would be signed between some 20 multinationals and the government on Friday evening.
The official declined to provide more details ahead of the signing ceremony, but Morales, who assumed office in January, set a six-month deadline in May for an ambitious nationalization of oil and gas resources to recoup energy revenues for the good of the country.
Bolivia holds the second-largest South American natural gas reserves after Venezuela, and over 26 foreign groups -- including ExxonMobil, BG Group, Total, Repsol and Petrobras -- have interests in the country.
Franklin Oil and Gas, Bolivia
http://www.franklinmining.com/CompanyInformation/CompanyStructure/FranklinOilGasBolivia/tabid/19696/...
On second question: I don't have information.
Interesting information on the website
http://www.franklinmining.com/CompanyInformation/CompanyStructure/FranklinMiningInc/tabid/19694/Defa...
Franklin Mining 2004-2005 Consolidated Audited Report http://www.franklinmining.com/Investors/AnnualReports/tabid/1332/Default.aspx
Franklin Mining website content is being updated.
Google Image of San Cristobal-Potosi Silver Belt
Apogee Intersects High Grade Silver Mineralization at Pulacayo Silver Project
History of Pulacayo-Paca Silver Mines
The Pulacayo-Paca project is located 460 km south of La Paz in the historic Potosi Department of Southwestern Bolivia, near the city of Uyuni in the middle of the San Cristobal-Potosi Silver Belt, a wide, well-mineralized string of silver deposits that extends from the southwest to the northeast and includes the three largest silver deposits in Bolivian history (Potosi, San Cristobal, and Pulacayo).
http://img146.imageshack.us/my.php?image=silverbelthv0.jpg
Correction - The news article is from Argentinan press and NOT Bolivian press.
I am not sure whether they are building GTL plant or Petrochemical plant, but it is in Argentina and not Bolivia.
http://www.p23.com.ar/index.php?s=!notas-ver$$$WW95bm8cx5m3h995&referer=gfI5rIiwOZWTkmb38SBUGgG/...
Cóccaro confía en la aprobación de Renasa
Hugo Cóccaro espera que la Legislatura apruebe la creación de la empresa Renasa, que permitirá a Tierra del Fuego ser parte de los negocios con sus propios recursos y dejar de depender del mínimo porcentaje de regalías. Sin embargo, advirtió que algunos parlamentarios sometieron la cuestión a una “disyuntiva” de nombres. El gobernador anunció, además, la posibilidad de que la firma norteamericana Franklin Oil & Gas instale una planta petroquímica en Río Grande, siempre que se arribe a un acuerdo con la empresa Total para la provisión de gas. Respecto de integrar una fórmula electoral con la diputada Bertone, dijo que solo se trató de un comentario.
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Cóccaro confía en la aprobación de Renasa
Hugo Cóccaro “Renasa va a ser la herramienta que necesita la provincia para negociar de distintas maneras con las empresas petroleras que vengan a invertir en la isla, y permitirá que no solo nos quedemos con el 12 por ciento de las regalías”.
Hugo Cóccaro “Renasa va a ser la herramienta que necesita la provincia para negociar de distintas maneras con las empresas petroleras que vengan a invertir en la isla, y permitirá que no solo nos quedemos con el 12 por ciento de las regalías”.
Galería de Fotos
Río Grande – El gobernador Hugo Cóccaro dijo que una de las respuestas de su gobierno a la permanente búsqueda de trabajo por parte de inmigrantes que arriban diariamente desde distintos puntos del país, es la concreción de un proyecto para la instalación de una industria petroquímica en esta ciudad. Al respecto, indicó que “el gobierno está analizando la instalación de una petroquímica en la ciudad de Río Grande. Hemos hecho reuniones con la secretaría de Combustibles y con representantes de la empresa norteamericana Franklin Oil & Gas, además de coordinar un encuentro con empresarios de la firma Total que encabeza el consorcio y que sería la encargada de proveerle gas a la nueva empresa”.
Adelantó que “si pocos días más se logra cerrar este acuerdo con esta empresa privada, posiblemente en pocos meses se pueda dar inicio a la obra de la petroquímica”.
Con relación a la media sanción dada en la Cámara de Diputados a la nueva ley de hidrocarburos, el mandatario sostuvo que la norma es muy positiva para la provincia de Tierra del Fuego, porque “definitivamente pasamos a ser los agentes de policía de nuestros propios recursos”.
Ahora –agregó- faltaría que solamente la legislatura apruebe el proyecto de ley por el que se crea la empresa provincial RENASA, y “a partir de ahí la provincia estaría en condiciones de manejar y administrar sus propios recursos de mejor manera, y hacer negocios directamente con los inversionistas que quieran venir a poner plata para explorar, porque hace más de once años que no se invierte fuerte en este rubro”.
“Sabemos que tenemos recursos, pero es necesario el dinero para comenzar a realizar trabajos de exploración”, subrayó el jefe de estado provincial.
Sentenció que Renasa va a ser la herramienta que necesita la provincia para negociar de distintas maneras con las empresas petroleras que vengan a invertir en la isla, y permitirá que no solo nos quedemos con el 12 por ciento de las regalías sino con los beneficios que los hidrocarburos, el gas y el petróleo nos puedan brindar.
Si bien no hubo ofertas de las áreas a explorar, Cóccaro indicó que varias empresas, como Sipetrol, Petrobrás, YPF-Repsol, entre otras, mostraron sumo interés en el área CA12, por lo que el gobierno pretende convocar a licitación antes de fin de año o hacer un negocio importante a través de Renasa y estas empresas.
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Cóccaro trusts the approval of Renasa
Hugo Cóccaro hopes that the Legislature approves the creation of the Renasa company, that will allow to Land of the Fire to be part of the businesses with its own resources and of letting depend on the minimum percentage of exemptions. Nevertheless, he noticed that some parliamentarians put under the question a “dilemma” of names. The governor announced, in addition, the possibility that the North American company/signature Franklin Oil & Gas installs a petrochemical plant in Grande River, whenever is arrived at an agreement with the Total company for the gas provision. Respect to integrate an electoral formula with Bertone deputy, said that single it was a commentary.
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Cóccaro trusts the approval of Renasa
Hugo Cóccaro “Renasa is going to be the tool that needs the province to negotiate of different ways with the oil companies that come to invest in the island, and will allow that not only we remain with the 12 percent of the exemptions”.
Hugo Cóccaro “Renasa is going to be the tool that needs the province to negotiate of different ways with the oil companies that come to invest in the island, and will allow that not only we remain with the 12 percent of the exemptions”.
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Grande river - the governor Hugo Cóccaro said that one of the answers from its government to the permanent search of work on the part of immigrants who arrive daily from different points from the country, is the concretion of a project for the installation of a petrochemical industry in this city. On the matter, he indicated that “the government is analyzing the installation of a petrochemical one in the city of Grande River. We have made meetings with the secretariat of Fuels and representatives of the North American company Franklin Oil & Gas, besides to coordinate an encounter with industralists of the Total company/signature that heads the partnership and that would be the one in charge to provide gas to him to the new company”.
It advanced that “if few days it is more managed to close this agreement with this deprived company, possibly in few months is possible to be given beginning to the work of the petrochemical one”.
In relation to the average sanction given in the House of Representatives to the new hydrocarbon law, the agent chief executive maintained that the norm is very positive for the Land province of the Fire, because “definitively we happened to be the policemen of our own resources”.
Now - he added would lack that only the legislature approves the law project by which the provincial is created company RENASA, and “from the province it could there to directly handle and to administer his own resources of better way, and to make businesses with the investors whom they love to come to put silver to explore, because it does more than eleven years that it is not reversed strong in this heading”.
“We know that we have resources, but is necessary the money to begin to make works of exploration”, emphasized the provincial Chief of State.
It sentenced that Renasa is going to be the tool that needs the province to negotiate of different ways with the oil companies that come to invest in the island, and will allow that not only we remain with the 12 percent of the exemptions but with the benefits that the hydrocarbons, the gas and petroleum can offer us.
Although there were supplies of the no areas to explore, Cóccaro indicated that several companies, like Sipetrol, Petrobra's, YPF-Repsol, among others, showed extreme interest in area CA12, reason why the government tries to summon to licitation before year end or to make an important business through Renasa and these companies.
Here's an excellent documentary by PBS on Newmont Mining. It's worth taking a look at it.
http://www.pbs.org/frontlineworld/stories/peru404/thestory.html
Argentina - Petrochemical in Grande River
http://www.tiempofueguino.com.ar/main/modules.php?name=News&file=article&sid=21557
Petroquímica en Río Grande
Por otra parte, y en referencia a la situación actual del sector del comercio, Cóccaro apreció que el mismo “ha experimentado un repunte, evidentemente. Pero no hay que dormirse en los laureles, porque la verdad es que viene mucha gente a Tierra del Fuego, por lo general viene sin trabajo, y la búsqueda de fuentes de trabajo es incesante. Hay que trabajar mucho”. En este sentido, informó puntualmente que “estamos viendo el proyecto de una Petroquímica que si Dios quiere se va a instalar en Río Grande, hemos hecho reuniones en la Secretaría de Combustibles, con los empresarios, es una empresa norteamericana que se llama Franklin Oil & Gas, y hemos coordinado una reunión con gente de Total que es la que encabeza el consorcio que explota nuestros hidrocarburos, que en todo caso debería proveerle de gas a esta empresa”. Para finalizar, anunció que “en pocos días más, si se logra cerrar este acuerdo entre las dos empresas, en algunos meses más se puede dar inicio a la Petroquímica que es algo que buscamos hace mucho tiempo
Translation -
Petrochemical in Grande River
On the other hand, and in reference to the present situation of the sector of the commerce, Cóccaro appreciated evidently that he himself “has experienced a rise. But it is not necessary to fall asleep in the laurels, because the truth is that much people come to Land of the Fire, generally comes without work, and the search of work sources is incessant. It is necessary to work much”. In this sense, it informed precise that “we are seeing the project of a Petrochemical one that if God wants is going to install in Grande River, we have made meetings in the Secretariat of Fuels, with the industralists, is a North American company that is called Franklin Oil & Gas, and we have coordinated a meeting with people of Total that is the one that heads the partnership that operates our hydrocarbons, that in any case would have to provide to him with gas to this company”. In order to finalize, it announced that “in few days, if is managed to close this agreement between the two companies, in some months beginning can more more be given the Petrochemical one that is something that we looked for long ago”.
Companies interested in oil exploration in La Paz exist
http://www.eldiario.net/noticias/nt060913/5nal.php
xisten empresas interesadas en exploración petrolera en La Paz
• Estadounidenses, coreanos y rusos quieren explotar el petróleo del Norte paceño.
Comunarios de Capiwura Gran Poder descubrieron nuevas filtraciones del energético. Mientras los residentes de Apolo se reunieron con dos empresas interesadas en la exploración.
Las empresas “Franklin Oil and Gas Bolivia” de Estados Unidos, la “Korbol Comercio Internacional” de Corea del Sur y la rusa “Gazprom in Questions & Adswers” expresaron su interés en realizar exploraciones petroleras con sus propias inversiones en el Norte del Departamento de La Paz.
El presidente del Comité Cívico de Residentes de Apolo, Augusto Oblitas informó a EL DIARIO que se reunió con los representantes de dos de las empresas petroleras extranjeras.
Agregó que, el representante legal de “Franklin Oil and Gas Bolivia”, Álvaro Antelo, ha manifestado el interés de explorar la región. Este consorcio cursó una carta de intenciones al Ministro de Hidrocarburos, Andrés Soliz Rada.
De igual manera el coordinador General de la empresa de Corea del Sur, “Korbol Comercio Internacional”, Marco Montoya ha expresado su interés de invertir en la exploración y explotación del hidrocarburo en esa región, dijo Oblitas.
MAS EMPRESAS
Por otra parte, se conoce que también los empresarios rusos de la compañía “Gazprom in Questions & Adswers” se encuentran nuevamente en la Sede de Gobierno para ratificarle al Gobierno boliviano su interés de invertir en los proyectos en el rubro hidrocarburos.
Los ejecutivos de “Gazprom”, que se reunieron con el ministro de Hidrocarburos, Andrés Soliz Rada, explicaron su voluntad de hacer realidad los proyectos expuestos, durante la primera reunión efectuada el pasado siete de junio, cuando hablaron sobre la exploración de gas en Camiri, Bermejo y en el Norte de La Paz.
“Gazprom” expresó a las autoridades del Poder Ejecutivo su intención de consolidar los planes de sociedad con la estatal petrolera boliviana y sellar el pacto con la suscripción de un acta de entendimiento que involucre la exploración, explotación, producción, refinación, comercialización e industrialización del gas y petróleo en territorio boliviano.
El interés de las empresas extranjeras responde al anuncio del descubrimiento de petróleo en el Norte del Departamento de La Paz que EL DIARIO ha iniciado a partir de la década de los 70 y que recientemente ha sido comprobado por la Facultad de Ingeniería de la Universidad Mayor de San Andrés (UMSA).
Por otra parte, según datos oficiales de YPFB en materia de hidrocarburos, el Departamento de La Paz, aún no ha sido estudiado en toda su magnitud, aunque existen formaciones de interés petrolero como en el altiplano, la Faja Sub Andino Norte, la Llanura Beniana y parcialmente de la Cuenca del río Madre de Dios.
Según especialistas de YPFB el sistema petrolífero de las cuencas mencionadas, tiene la capacidad de generación, migración y posiblemente entrampamiento de hidrocarburos.
DECISIÓN POLÍTICA
Por otra parte, el representante de Apolo, Augusto Oblitas exigió al Gobierno que asuma una decisión política para dar inicio a la exploración petrolera en el Norte de La Paz.
Asimismo, aclaró que ambas empresas, tanto la “Franklin Oil and Gas Bolivia” como la “Korbol Comercio Internacional” no solicitarán ni un centavo al Gobierno boliviano -sólo el permiso correspondiente- e invertirán en las exploraciones hidrocarburíferas en la región. Las empresas inversoras sólo pedirán la autorización para la posterior explotación del petróleo del Norte paceño.
El Centro Cívico de Residentes de Apolo ha sostenido varias reuniones innecesarias con los personeros de YPFB y autoridades del Gobierno y sólo se “intenta diluir el desarrollo para la región”, aseveró Oblitas.
Sin embargo, las empresas que manifestaron su interés en explorar el Norte paceño no han especificado el monto de inversión para los trabajos petroleros.
Translation -
Companies interested in oil exploration in La Paz exist • American, Korean and Russian paceño wants to operate the petroleum of the North. Comunarios de Capiwura Great Power discovered new filtrations of the power one. While the residents of Apolo met with two companies interested in the exploration. The companies “Franklin Oil and Gas Bolivia” of the United States, the “Korbol Comercio the International” of South Korea and the Russian “Gazprom in Questions & Adswers” expressed their interest in making oil explorations with their own investments in the North of the Department of La Paz. The president of the Civic Committee of Residents of Apolo, Augusto Oblitas informed to the NEWSPAPER that met with the representatives of two of the foreign oil companies. He added that, the legal representative of “Franklin Oil and Gas Bolivia”, Alvaro Antelo, has showed the interest to explore the region. This partnership attended a letter of intent to the Hydrocarbon Minister, Andrés Soliz Road. Of equal way the General coordinator of the company of South Korea, “Korbol Comercio the International”, Marco Montoya has expressed his interest to invest in the exploration and operation of hydrocarbon in that region, said Oblitas. MAS COMPANIES On the other hand, it is known that also the Russian industralists of the company “Gazprom in Questions & Adswers” are again in the Seat of Government to ratify to the Bolivian Government their interest to him to invest in the projects in the heading hydrocarbons. The executives of “Gazprom”, who met with the Hydrocarbon minister, Andrés Soliz Road, explained their will to make reality the projects exposed, during first meeting carried out the past seven of June, when they spoke on the gas exploration in Camiri, Bermejo and in the North of La Paz. “Gazprom” expressed to the authorities of the Executive authority its intention to consolidate the plans of society with state the oil Bolivian and to seal the pact with the subscription of an understanding act that involves the exploration, operation, production, refinement, commercialization and industrialization of the gas and petroleum in Bolivian territory. The interest of the foreign companies responds to the announcement of the petroleum discovery in the North of the Department of La Paz that the NEWSPAPER has initiated as of the decade of the 70 and which recently it has been verified by the Faculty of Engineering of the Greater University of San Andrés (UMSA). On the other hand, according to official data of YPFB in the matter of hydrocarbons, the Department of La Paz, not yet has been studied in all its magnitude, although they exist formation of oil interest like in the plateau, Faja North Andean Sub, the Beniana Plain and partially of the River basin of the river Madre de God. According to YPFB specialists the petroliferous system of the mentioned river basins, has the capacity of generation, migration and possibly entrampamiento of hydrocarbons. POLITICAL DECISION On the other hand, the representative of Apolo, Augusto Oblitas demanded the Government who assumes a political decision to give beginning to the oil exploration in the North of La Paz. Also, he clarified that both companies, as much the “Franklin Oil and Gas Bolivia” as the “Korbol Comercio the International” the corresponding permission does not ask for nor a cent to the Bolivian Government - only and invests in the hidrocarburíferas explorations in the region. The investing companies will only request the authorization for the later operation of the petroleum of the North paceño. The Civic Center of Residents of Apolo has maintained several unnecessary meetings with the personeros of YPFB and authorities of the Government and “are only tried to dilute the development for the region”, asserted Oblitas. Nevertheless, the companies that showed their interest in exploring the North paceño have specified the amount of investment for the oil works.
Oil companies interested in exploration of the North paceño
http://www.eldiario.net/noticias/nt060913/0ptd.php?pag=0_03ptd.html
Empresas petroleras interesadas en exploración del Norte paceño
• Compañías estadounidenses, coreanas y rusas harán inversiones.
Empresas petroleras dispuestas a invertir sus recursos en tareas de exploración de nuevos campos hidrocraburíferos.
Las empresas “Franklin Oil and Gas Bolivia” de Estados Unidos, la “Korbol Comercio Internacional” de Corea del Sur y la rusa “Gazprom in Questions & Adswers”, manifestaron su interés en realizar exploraciones petroleras con sus propias inversiones en el Norte del Departamento de La Paz.
El presidente del Comité Cívico de Residentes de Apolo, Augusto Oblitas, informó a EL DIARIO que los representantes de dos de las tres empresas petroleras declararon, a través de reuniones, la predisposición de invertir en la explotación del hidrocarburo.
Agregó que, el representante legal de “Franklin Oil and Gas Bolivia”, Álvaro Antelo, ha ratificado el interés de explorar la región. Este consorcio cursó una carta de intenciones al ministro de Hidrocarburos, Andrés Soliz Rada.
De igual manera, el coordinador general de la empresa de Corea del Sur, “Korbol Comercio Internacional”, Marco Montoya, ha expresado su interés de invertir en la exploración y explotación del hidrocarburo en esa región, dijo Oblitas.
Por otra parte, se conoce que también los empresarios rusos de la compañía “Gazprom in Questions & Adswers”, se encuentran nuevamente en la Sede de Gobierno para ratificar a las auto ridades boliviano su interés de invertir en los proyectos en el rubro petrolero.
Según datos de YPFB en materia de hidrocarburos el Departamento de La Paz no ha sido estudiado en toda su magnitud; sin embargo, existe un sistema petrolífero identificado que tiene la capacidad de generación, migración y posiblemente el entrampamiento del energético.
Translation -
Oil companies interested in exploration of the North paceño • American, Korean and Russian Companies will make investments. Oil companies ready to invest its resources in tasks of exploration of new hidrocraburíferos fields. The companies “Franklin Oil and Gas Bolivia” of the United States, the “Korbol Comercio the International” of South Korea and the Russian “Gazprom in Questions & Adswers”, showed their interest in making oil explorations with their own investments in the North of the Department of La Paz. The president of the Civic Committee of Residents of Apolo, Augusto Oblitas, informed to the NEWSPAPER that the representatives of two of the three oil companies declared, through meetings, the predisposition to invest in the operation of hydrocarbon. He added that, the legal representative of “Franklin Oil and Gas Bolivia”, Alvaro Antelo, has ratified the interest to explore the region. This partnership attended a letter of intent to the Hydrocarbon minister, Andrés Soliz Road. Of equal way, the general coordinator of the company of South Korea, “Korbol Comercio the International”, Marco Montoya, has expressed his interest to invest in the exploration and operation of hydrocarbon in that region, said Oblitas. On the other hand, it is known that also the Russian industralists of the company “Gazprom in Questions & Adswers”, are again in the Seat of Government to ratify to the Bolivian car ridades their interest to invest in the projects in the oil heading. According to data of YPFB in the matter of hydrocarbons the Department of La Paz has not been studied in all its magnitude; nevertheless, an identified petroliferous system exists that has the capacity of generation, migration and possibly the entrampamiento of the power one.
I wouldn't care much about the market and technicals right now. As long as management are executing the projects and generating revenues, I think we are good enough for now.
Since the Financial Auditing is done, Franklin should move out of pinksheets for better visibility. Does anyone has information about that?
The great challenge of the nationalization
http://www.la-razon.com/versiones/20060908_005658/nota_264_329989.htm
El gran desafío de la nacionalización
¿Qué hay de realidad en la nacionalización?
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Carlos d’ Arlach
El gran desafío de la Nacionalización de los Hidrocarburos es paradójicamente concretar la migración de los contratos de riesgo compartido a alguna de las modalidades de contrato establecidas en el Ley de Hidrocarburos 3058 del 19 de mayo del 2005.
Cuando el MAS asumió el poder el 21 de enero pasado la gran mayoría de los bolivianos pensaba que iba a ser un gobierno que sabía lo que tenía que hacer, que existía un plan coherente en todos los temas nacionales y por fin estaba en sus manos todo el poder para ejecutarlo. Lamentablemente no es así, y cada día que pasa se desnudan más sus limitaciones.
En el tema de los hidrocarburos se le ha mentido al pueblo cotidianamente sobre todo a través de la voz del Ministro de Hidrocarburos. Entre otras cosas se le dijo al pueblo que era una cuestión de días el inscribir las reservas de hidrocarburos a nombre de YPFB con lo que se podría acceder a créditos millonarios; que se iba a conseguir con Brasil y Argentina un precio internacional igual al Henry Hub, es decir del orden de diez dólares; que con el Convenio con Venezuela se daba fin para siempre a la escasez de diesel; que con una inversión mínima se podía transformar a las refinerías para convertir a Bolivia en exportadora de diesel; que con la diplomacia de los pueblos ya casi teníamos mar, y que las compañías hacían cola para invertir sumas millonarias en el país. ¿Cuánto de esto es cierto? Es más, ¿cuanto de esto puede ser cierto?, la respuesta es que muy poco, tal vez nada.
Las reservas no sólo no se han inscrito, si no que no se pueden inscribir en la bolsa. Es más, YPFB, no ha brindado un informe de cuánto son las reservas actualizadas al 1 de enero del 2006; la escasez de diesel continúa, y el contrato con Argentina es de 5 dólares por millón de BTU, no diez, ni ocho, es decir entre 15 y 20% mas que lo acordados con Brasil.
Algunas de las supuestas inversoras auspiciadas por el MAS desde la oposición como Shen-Li han desaparecido de escena, pero han aparecido otras como la Franklin Oil (el “Oil” le pusieron en Bolivia), sin capital comprobable ni tradición petrolera en parte alguna del mundo.
En lo que estuvo acertado el Ministro es en calificar a YPFB como una institución débil, llamándola una cáscara vacía, por lo que el MAS procedió a fortalecerla. ¿Cómo?, pues echando a la poca gente profesional de experiencia que tenía, entre ellos 16 ingenieros y contratando a 7, sólo que ninguno es petrolero, y a 5 geólogos de planta para no contratar a ninguno, y tener como asesores principales a un ingeniero cuestionado por tráfico de influencias y conflicto de intereses, y otro asesor especialista en ingeniería cero, es decir sin profesión. ¿Le va a confiar el país a esta planta profesional petrolera los miles de millones de dólares que conseguirá el Ministro Solíz Rada en la bolsa? Por supuesto que no. La refundación de YPFB será paso a paso, y mientras eso ocurre, si queremos que siga fluyendo a nuestras arcas del gas vendido a Brasil a Argentina, habrá nomás que encontrar el camino para migrar los contratos, tal como lo establece la Ley de Hidrocarburos 3058 en su artículo 5º y el DS 28701, mal llamado de Nacionalización, porque no hubo tal, en su articulo 3º. Por eso también la censura al Ministro Solíz Rada, concretada el 23 de agosto, al margen de los hechos de corrupción denunciados en YPFB por la misma Superintendencia de Hidrocarburos.
Carlos d’ Arlach
es senador de la República.
Translation -
The great challenge of the nationalization
What has of reality in the nationalization?
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Carlos d' Arlach
The great challenge of the Nationalization of Hydrocarbons is paradoxicalally to make specific the migration of contracts of risk shared to some of the established contract modalities in the Hydrocarbon Law 3058 of the 19 of May of the 2005.
When the MAS assumed the power the 21 of last January the great majority of the Bolivians thought that it was going to be a government who knew what had to do, that existed a coherent plan in all the national subjects and finally it was in his hands all the power to execute it. Lamentably it is not thus, and every day that happens they undress plus its limitations.
In the subject of hydrocarbons it has been lain to him to the town daily mainly through the voice of the Hydrocarbon Minister. Among other things it was said to him to the town that was a question of days registering the reserves of hydrocarbons to name of YPFB with which it would be possible to be acceded on millionaire credits; that one was going away to obtain with Brazil and Argentina an equal international price to the Henry Hub, that is to say, of the order of ten dollars; that with the Agreement with Venezuela aim for always occurred to the diesel engine shortage; that with a minimum investment it was possible to be transformed to the refineries to turn to diesel engine exporter Bolivia; that with the diplomacy of the towns already almost we had sea, and that the companies made tail to invest millionaire sums in the country. How much of this is certain? It is more, whatever of this can be certain? , the answer is that very little, perhaps nothing.
The reserves not only have not registered, if not that cannot be registered in stock-market. It is more, YPFB, has not offered a report of how much they are the reserves updated to the 1 of January of the 2006; the diesel engine shortage continues, and the contract with Argentina is of 5 dollars by million BTU, not ten, nor eight, that is to say, between 15 and 20% but that the decided thing with Brazil.
Some of the investing supposed ones supported by the MAS from the opposition since Shen-Li has disappeared of scene, but have appeared others as the Franklin Oil (the “Oil” put to him in Bolivia), without comprobable capital nor oil tradition partly some of the world.
In which the Minister was guessed right is in describing to YPFB like a weak institution, calling it an empty shell, reason why the MAS came to fortify it. How? , because throwing to the little professional people of experience that he had, among them 16 engineers and contracting 7, only that no is oil, and 5 geologists of plant not to contract any, and to have as main advisers to an engineer questioned by influence peddling and conflict of interests, and another specialistic adviser in engineering zero, that is to say, without profession. Is going to trust the country to this oil professional plant the thousands to Him of million dollars that Road in stock-market will obtain to Minister Solíz? By all means that no. The refundación of YPFB will be step by step, and while that happens, if we want that it continues flowing our coffers of the gas sold to Brazil to Argentina, will be necessary just to find the way to migrate contracts, as 5º establishes the Hydrocarbon Law 3058 in its article and DS 28701, badly called of Nationalization, because there was no such, in his I articulate 3º. For that reason also the censorship to Minister Solíz Road, made specific the 23 of August, to the margin of the denounced facts of corruption in YPFB by the same Hydrocarbon Supervision.
Carlos d' Arlach
he is senator of the Republic.
Since Financial Audting for 2004 and 2005 is done, when is FMNJ moving out from Pink Sheets ?
Anyone has information ?
Never mind, I found it on the web. EU - ESTADOS UNIDOS ( United States).
Franklin Mining, a mining group of EU ?
I found this article on the web. I guess its a magzine from Mexico and Franklin Mining was mentioned in this article, which said "Franklin Mining, a mining group of EU"
EU - European Union ?
http://www.simiinforma.com.mx/PDF/142.pdf
El poder ciudadano / ALFREDO JALIFE-RAHME Bolivia: dificultades de la nacionalización gasera Sería muy ingenuo creer que las trasnacionales anglosajonas, sumadas de las hispanas que han mostrado su siempre eterno rostro de re-conquistadores, dejarían el libre paso a la nacionalización del gas que ha encontrado una feroz resistencia. Las intenciones del presidente indígena Evo Morales son insuperables: compartir la riqueza gasera, la segunda reserva más importante de Latinoamérica, con la plétora de miserables. La empresa estatal Yacimientos Petrolíferos Fiscales Bolivianos (YPBF) carece de fondos necesarios para incrementar su participación accionaria lo que le impide obtener el control de las unidades productoras, que todavía dominan la española REPSOL-YPF y la brasileña petrobrás (el principal inversionista). Todavía YPBF no ha podido controlar las refinerías, los gasoductos y su distribución que están en manos de las trasnacionales foráneas Total y Grupo BG. La nacionalización no ha sido sencilla pero sigue siendo popular con el 85% de apoyo. El modelo neoliberal experimentado desde la década de los ochenta no proveyó los empleos prometidos ni redujo la pobreza extrema y la nacionalización se convirtió en un tema unificador. El gobierno ha invitado a los hombres de negocios bolivianos a participar en los servicios y procesos relacionados con la industria gasera, así como en otros sectores como la minería, la vivienda y la agricultura. Las inversiones públicas ascenderán en los próximos cinco años a US$6,900 millones, sin menosprecio de las inversiones foráneas, como la venezolana PDVSA que ha prometido US$1,000 millones para desarrollar la petroquímica en conjunción con YPBF. En forma sorprendente, Franklin Mining, un grupo minero de EU, ha firmado una colaboración con YPBF para invertir en el sector gasero. El gigante gasero ruso Gazprom anunció su intención de invertir US$2,000 millones también en el sector gasero. Pareciera que con la excepción de Petrobras, las trasnacionales energéticas sedientas del oro negro se encuentran dispuestas a realizar inversiones en Bolivia, cuyo 70% del territorio aún no ha sido explorado, pese a la nacionalización que curiosamente entraría en una fase mixta de diversificación de sus inversiones entre el estado y los empresarios. No está mal. jaliferahme@gmail.com
Translation -
The citizen power/ALFREDO JALIFE-RAHME Bolivia: difficulties of the gasera nationalization He would be very ingenuous to think that the transnational Anglo-Saxons, added of Hispanic which they have shown his always eternal face of re-conquerors, they would open the free way to the nationalization of the gas that has found one ferocious resistance. The intentions of indigenous president Evo Morales are insurmountable: to share the gasera wealth, the second more important reserve of Latin America, with the plethora of miserable. The state company Oil fields Fiscal Bolivians (YPBF) lacks bottoms necessary to increase its participation shareholder which him it prevents to obtain the control of the producing units, that still dominate to Spanish REPSOL-YPF and Brazilian Petrobra's (the main investor). Still YPBF has not been able to control the refineries, the gasoductos and their distribution that are into the hands of transnational foreign the Total and Grupo BG. The nationalization has not been simple but it continues being popular with 85% of support. The experienced neoliberal model from the Eighties no it provided the engaged uses nor it reduced the extreme poverty and the nationalization became an unifying subject. The government has invited to Bolivian businessmen to participate in the services and processes related to the gasera industry, as well as in other sectors like the mining, the house and agriculture. The public investments will ascend in next the five years to US$6,900 million, without contempt of the foreign investments, like the Venezuelan PDVSA who has promised to US$1,000 million to develop the petrochemical one in conjunction with YPBF. In surprising form, Franklin Mining, a mining group of EU, it has signed a collaboration with YPBF to invest in the gasero sector. The gasero giant Russian Gazprom announced its intention to invest US$2,000 million also in the gasero sector. It seemed that with the exception of Petrobra's, transnational power sedientas of gold black is arranged to make investments in Bolivia, whose 70% of the territory not yet have been explored, in spite of nationalization that peculiarly would enter a mixed phase of diversification of its investments between the state and the industralists. He is not bad. jaliferahme@gmail.com
I think, may be they meant "Pulacaya" project.
3) An agreement for the Pulacaya project. Roland Kemp, Vice President of B&B Bank and senior partner of Kemp & Associates, has entered into a mining tailings project agreement with Franklin Mining, Bolivia & COMIBOL. Franklin will retain 51% of project (tailings are produced when metallic ores are ground into fine powder to free the metal-bearing mineral).
Thanks very much.
9) Franklin Oil & Gas and Franklin Mining have designed a program for funding for the GTL plants and the tailings projects.
It will interesting to about the funding program. Anyone has information on that ?
YPFB no necesita socios
http://www.bolpress.com/opinion.php?Cod=2006090107
YPFB no necesita socios
Alfonso Arias Anaya
Contactos con el autor
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Alfonso Arias Anaya
Desde la exploración de hcs hasta la comercialización, la industria petrolera debe iniciarse con altísimos riesgos y nulas certezas - con la exploración - y finalizar la cadena con negocio seguro, con cero riesgo, salvo en el mal manejo de información, con la comercialización.
La Exploración demanda grandes inversiones a "fondo perdido". En el mejor de los casos, y luego de muchos millones de gasto, culminará con obtener la información de haberse descubierto uno o más yacimientos comerciales de hcs. La Explotación es la segunda fase de la cadena. Tiene aún el riesgo de invertir en pozos que no caen en buena posición estructural. La industrialización (Refinación, Petroquímica, Procesos GTL o elaboración de metanol o etanol a partir del gas natural) tiene el riesgo mínimo de la mala planificación (de mercados, de producción o del tamaño de plantas). En compensación, la industrialización tiene grandes beneficios. La Comercialización es sin riesgo alguno ¡Puro Negocio!
YPFB no necesita socios para actividades de mínimo o nulo riesgo como la industrialización o la comerc. Solo debiera buscar socios, como lo hacen todas las operadoras, para las tareas de Exploración - Explotación porque estas son actividades de riesgo.
A YPFB lo primero que le quitaron los neoliberales, fue la Comercialización al detalle de carburantes y lubricantes. Algo parecido, pero vendiendo además materia prima, pretendía hacer Don Jorge Alvarado con Ibero América Trading. También firmó una carta de intenciones con "Franklin Oil & Gas", empresa formada recién en 2004 y con el único negocio publicitado en Internet, de "proveer la tecnología y la administración de futuros procesos de industrialización en carta de intenciones suscrita con YPFB".
* ¿Quiénes son los genios de "Franklin Oil & Gas" que en dos años han desarrollado tecnología para procesar gas natural?
* ¿Será confiable esta asociación con una empresa bisoña, sin experiencia ni tradición en estos procesos?
Para Industrializar el gas natural, debe llamarse a una Licitación Internacional, buscando a las mejores empresas que acepten el pago en productos, y el entrenamiento de todo el personal necesario de YPFB, mientras se construye la planta. No necesitamos socios, porque tenemos el capital que es nuestro gas.
Translation
YPFB does not need partners
Alfonso Aryan Anaya
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Alfonso Aryan Anaya
From the exploration of hcs to the commercialization, the oil industry must begin with highest risks and null certainties - with the exploration - and of finalizing the chain with safe business, with zero risk, safe in badly the handling of information, with the commercialization.
The Exploration demands great investments to “lost bottom”. In the best one of the cases, and after many million cost, it will culminate with obtaining the commercial data of to have discovered one or more deposits of hcs. The Operation is the second phase of the chain. It still has the risk of investing in wells that do not fall in good structural position. Industrialization (Refinement, Petrochemical, Processes GTL or elaboration of metanol or ethanol from the natural gas) has the minimum risk of the bad planning (of markets, production or as large as plants). In compensation, industrialization has great benefits. The Commercialization is without risk some Pure Business!
YPFB does not need partners for activities minimum or null risk like industrialization or comerc. Single it had to look for partners, since all the operators do, for the tasks of Exploration - Operation because these are risk activities.
To YPFB first that cleared the neoliberal ones to him, it was the retail fuel Commercialization and lubricants. Something similar, but selling in addition raw material, tried to make Don Jorge Alvarado with Ibero America TRADING. Also it signed a letter of intent with “Franklin Oil & Gas”, company formed just in 2004 and with the only business publicitado in Internet, “to provide the technology and the administration with future processes of industrialization in letter of intent subscribed with YPFB”.
* Who are the geniuses of “Franklin Oil & Gas” that in two years have developed technology to process natural gas?
* Will be reliable this association with an inexperienced company, without experience nor tradition in these processes?
In order To industrialize the natural gas, the International must be called to a Licitation, looking for the best companies than they accept the product payment, and the training of all the necessary personnel of YPFB, while the plant is constructed. We did not need partners, because we have the capital that is our gas.
Additional photo of the meeting that was held in Ushuaia,Argentina.
http://img143.imageshack.us/my.php?image=convenioconpetroleras1ct3.jpg
Same old news article, but with a different photo.
http://www.noticielo.com.ar/mas-detalle.asp?titulo=El%20Gobierno%20de%20la%20Provincia%20suscribi%F3...
Interesting... Thanks
Well, as a Bolivian citizen he does have legitimate questions and as shareholders we do have same questions too.
I hope in future PRs, Franklin would explain, the financial resources for previous said projects.
Some legitimate questions -
http://www.hoybolivia.com/news.php?seccion=59&d3=37009
Podemos: YPFB y Comibol firman contratos con empresa insolvente
Hoybolivia.com.- El diputado de Podemos, Ronald Moreno, denunció que YPFB y Comibol estarían firmando contratos con una empresa norteamericana insolvente.
“El 25 de abril de este año, YPFB firmó con la empresa norteamericana Franklin Mining Corporation un Memorando de Entendimiento, anunciando la creación de un joint venture con el propósito de construir y operar una planta de procesamiento de GTL. El memorando fue ratificado el 25 de mayo”, informó Moreno.
El diputado acotó que “de acuerdo a las declaraciones a diversos medios de comunicación por el presidente de YPFB, Jorge Alvarado, la empresa invertirá 320 millones de dólares en dicho proyecto”.
“La subsidiaria boliviana de Franklin Mining Corporation también firmó una Carta de Intenciones con Comibol, que fue aprobada por el Directorio. Actualmente, la empresa y Comibol están finalizando los detalles para firmar el contrato de explotación de Cerro Rico de Potosí”, dijo Moreno.
Añadió que en este sentido, Comibol ha autorizado a Franklin Mining la construcción de un planta procesadora de 1000 toneladas que estará localizada en el Cerro Rico de Potosí”.
Reveló que “los estados financieros de Franklin Mining al 31 de diciembre de 2005, muestran activos corrientes de apenas 9.093 dólares americanos, pérdidas por operaciones de 692.330 dólares americanos, y una pérdida total de 726.132 dólares americanos”.
“En las notas adjuntas a los estados financieros, el gerente general de Franklin Mining, Jaime Melgarejo, hace notar que la empresa necesita obtener ingresos suficientes para cubrir sus gastos operativos y poder mantenerse funcionando”, denunció.
El representante del Chaco de Santa Cruz informó que “En una entrevista hecha en Estados Unidos a Jaime Melgarejo por MN1.com, el gerente general de la empresa ratifica que no tuvieron ingresos el año pasado, solamente pérdidas, y que no tienen una fuente de ingresos, sino que estarían funcionando con algunos aportes”.
“Sumándose a esta situación de clara insolvencia, y agravando el caso, en la misma entrevista se indica que Jaime Melgarejo es hijo de un ciudadano boliviano y que mantiene nexos con varios familiares en Bolivia”, dijo Moreno.
El diputado advirtió que “toda esta preocupante información nos despierta varias dudas legítimas, llevándonos a preguntarnos por qué empresas del Estado boliviano están firmando contratos con una firma de dudosa solvencia, con activos corrientes que sólo alcanzan a la irrisoria suma de 9.000 dólares”.
“Entonces, nos preguntamos: ¿Es Franklin Mining una empresa fantasma? ¿Estamos ante un negociado igual o peor que las capitalizaciones de Sánchez de Lozada? ¿Jaime Melgarejo tiene nexos con autoridades bolivianas?”, cuestionó.
2006-07-27
Translation
We can: YPFB and Comibol sign contracts with insolvente company
Hoybolivia.com. - The deputy of We can, Ronald Moreno, denounced that YPFB and Comibol would be signing contracts with a insolvente North American company.
“The 25 of April of this year, YPFB signed with the North American company Franklin Mining Corporation a Memorando de Entendimiento, announcing the creation of joint venture in order to construct and to operate a plant of processing of GTL. Memorando was ratified the 25 of May”, informed Brown.
The deputy limited that “according to the declarations to diverse mass media by the president of YPFB, Jorge Alvarado, the company will invest 320 million dollars in this project”.
“The Bolivian subsidiary of Franklin Mining Corporation also signed a Letter of intent with Comibol, that was approved by the Directory. At the moment, the company and Comibol are finalizing the details to sign the contract of Hill operation Rico de Potosí”, said Colored person.
It added that in this sense, Comibol is authorized to Franklin Mining the construction of a plant processor of 1000 tons that will be located in the Hill Rico de Potosí”.
It revealed that “the financial statements of Franklin Mining to the 31 of December of 2005, hardly show current assets of 9,093 dollars American, losses by operations of 692,330 dollars American, and one total losses of 726,132 dollars American”.
“In attached notes to the financial statements, the general manager of Franklin Mining, Jaime Melgarejo, make notice that the company needs to obtain income sufficient to cover its operative expenses and to be able to stay working”, denounced.
The representative of the Chaco of Santa Cruz informed that “In an interview done in the United States to Jaime Melgarejo by MN1.com, the general manager of the company ratifies that they did not have income the last year, only losses, and that they do not have a source of income, but that would be working with some contributions”.
“Adding themselves to this situation of clear insolvency, and aggravating the case, in the same interview he indicates himself that Jaime Melgarejo is son of a Bolivian citizen and who he maintains nexuses with several relatives in Bolivia”, Colored person said.
The deputy warned that “all this worrisome information wakes up several legitimate doubts to us, taking to ask to us to us so that companies of the Bolivian State are signing contracts with a company/signature of doubtful solution, with current assets that only reach to irrisoria sum of 9,000 dollars”.
“Then, we asked ourselves: Is Franklin Mining a ghost company? We are before negotiating equal or worse than the capitalizations of Sanchez de Lozada? Jaime Melgarejo has nexuses with Bolivian authorities? ”, it questioned.
2006-07-27
Potosí: Mega proyectos apoyan encuentro minero
http://www.redbolivia.com/noticias/Regiones/24339.html
APG Noticias
Agosto 23, 2006, 15:46 EDT
Potosí, Bolivia -- Los mega proyectos de minería apoyan el Primer Encuentro Departamental de Minería 2006, según se puede evidenciar en el programa elaborado para el efecto.
Los proyectos Minera San Cristóbal y Manquiri además de las empresas Sinchi Wayra, Franklin Mining Bolivia y Aitcobol están apoyando el evento previsto para el 24 y 25 del presente en Hotel Claudia.
El programa del evento establece que se busca socializar el análisis del Código de Minería para que ese marco normativo genere actividades mineras responsables, capaces de crear y regular toda la cadena productiva.
Asimismo, buscan contar con un Nuevo Código de Minería en una realidad minera altamente practicada dentro el marco legal, que vaya a consolidar la cadena productiva minera y evite nuevamente vacíos de competencia de orden jurídico, que tanto perjudica a la economía.
El evento minero contará con el concurso de los diferentes actores del proceso productivo de la capital y provincias además de las entidades públicas vinculadas a esa actividad como el Servicio Geológico Técnico Minero (Sergeotecmin) y la Corporación Minera de Bolivia (Comibol).
Los asistentes al encuentro verán el Código de Minería en sus diferentes títulos y capítulos en especial lo que concierne a las disposiciones referidas al pago del Impuesto Complementario Minero.
Existen algunas organizaciones que ya pidieron que se suban los impuestos mineros pero esa posición se enfrenta a la de los cooperativistas mineros que establecieron estado de emergencia y pie de lucha contra cualquier alza del ICM o lo que llaman "regalía minera".
Los trabajadores del subsuelo sostienen que si se define el aumento del ICM iniciarán medidas de presión para frenar lo que consideran un atentado a su economía.
Translation
Potosí: Mega projects supports mining encounter
APG the News
Agosto 23, 2006, 15:46 EDT
Potosí, Bolivia -- The mega mining projects supports the First Departmental Encounter of Mining 2006, according to can be demonstrated in the program elaborated for the effect.
The projects Mining San Cristóbal and Manquiri in addition to the companies Sinchi Wayra, Franklin Mining Bolivia and Aitcobol are supporting the event anticipated for 24 and 25 of the present in Hotel Claudia.
The program of the event establishes that it looks for to socialize the analysis of the Code of Mining so that that normative frame generates mining activities responsible, able to create and to regulate all the productive chain.
Also, they look for to count inside on a New Code of Mining in a mining reality highly practiced the legal frame, that is going to consolidate the mining productive chain and avoids again empty of competition of legal order, that as much harms the economy.
The mining event will count on the aid of the different actors from the productive process of the capital and provinces in addition to the tie public organizations from that activity like the Geologic Service Technical Miner (Sergeotecmin) and the Mining Corporation of Bolivia (Comibol).
The assistants to the encounter will see the Code of Mining in their different titles and chapters in special what concerns the dispositions referred to the payment of the Mining Complementary Tax.
Some organizations exist who or requested that the mining taxes rise but that position faces the one of the mining cooperativistas that established emergency situation and foot of fight against any rise of the ICM or what they call “mining exemption”.
The workers of the subsoil maintain that if the increase of the ICM is defined they initiate pressure measures to restrain what an attack to their economy considers.
Nueva casa ejecutiva
http://66.102.7.104/search?q=cache:Y8dUOIE0cQkJ:www.energypress.com/Eventos.htm+Franklin+Oil&hl=...
Nueva casa ejecutiva La compañía Franklin Oil and Gas Bolivia, realizó la inauguración oficial de su casa ejecutiva en la ciudad de Santa Cruz de la Sierra. En este importante acto fueron invitados empresarios, autoridades, parlamentarios y representantes del Gobierno. A tiempo de inaugurar la casa matriz, William Petty, asesor y accionista mayoritario de la compañía (segundo desde la izquierda), resaltó los logros alcanzados por Franklin Oil and Gas. Señaló que el valor de la compañía en la Bolsa de Valores de los Estados Unidos es de aproximadamente 54 millones de dólares y que actualmente cuenta con más de 4.700 accionistas. Esta empresa transnacional, de inversionistas norteamericanos, llegó a Bolivia con el objetivo de industrializar el gas natural, con la construcción de una planta de GTL (Gas to Liquid) en el área de Río Grande, del departamento cruceño.
Translation -
New executive house
The company Franklin Oil and Gas Bolivia, made the official inauguration of its executive house in the city of Santa Cruz of the Mountain range. In this important act industralists were invited, authorities, parliamentarians and representatives of the Government. In time to inaugurate the first house, William Petty, adviser and majority shareholder of the company (second from the left), he emphasized the profits reached about Franklin Oil and Gas. It indicated that the value of the company in stock-market of Values of the United States is of approximately 54 million dollars and that at the moment it counts with more than 4,700 shareholders. This transnational company, from North American investors, arrived at Bolivia with the objective to industrialize the natural gas, with the construction of a plant of GTL (Gas to Liquid) in the area of Grande River, of the department cruceño.
Photo of Jamie
http://img81.imageshack.us/my.php?image=ww95b8l1cnxjwinqwr2.jpg
Is that Jamie on the left with Lady Rosario Martone ?
Photo of Jamie - Here's cached page from MSN search of the news from one of Argentinan Newspaper
http://cc.msnscache.com/cache.aspx?q=3971050513432&lang=en-US&mkt=en-US&FORM=CVRE
Search for Franklin in that page and click on the news article.
On the right frame of the news article, click on the image that has title text "Galería de Fotos". It will popup window with larger image.
Is that Jamie sitting next to the Lady Rosario Martone ?
Translation -
USHUAIA. - The governor Hugo Cóccaro subscribed, with directors of the companies Franklin Oil & Gas and Franklin Inc. Mining, an agreement of cooperation and interinstitutional support to develop to projects of industrialization in hidrocarburífera matter such as plants of processing of gas, metanol and other derivatives. For it an economic study preliminary, structural, legal will be made and of viability, including in the investigation the possible locations for each project in individual. The company will contribute the financial, technological and administrative resources to carry out the studies, that will end at future investments. The agreement was sealed by the fueguino Governor, the president of the Franklin Oil - Jaime Melgarejo- and by vice-president Rosario Martone. Cóccaro thanked for the visit of the industralists and discounted that it is possible to be advanced of beneficial way in the decided points. On the other hand, the President of the company emphasized the predisposition of the Governor and also he caused an important projection in the province.
Who is Hugo Cóccaro - http://en.wikipedia.org/wiki/Hugo_C%C3%B3ccaro
In my previous post, USHUAIA city is in Argentina and news appeared on Aug 22. I found it only in Yahoo and not in Google.
I am not sure, whether the news is trustworthy, but here's the link with search criteria in Yahoo.
http://news.search.yahoo.com/search/news?_adv_prop=web&x=op&ei=UTF-8&fr=FP-tab-web-t500&...
Acuerdo de cooperación con una reconocida empresa petrolera
http://www.surenio.com.ar/index.php?s=ARgmunqs$$diarios/veo$WW95b8casrxv6l35
Acuerdo de cooperación con una reconocida empresa petrolera
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USHUAIA.- El gobernador Hugo Cóccaro suscribió, con directivos de las compañías Franklin Oil & Gas y Franklin Mining Inc., un acuerdo de cooperación y apoyo interinstitucional para desarrollar proyectos de industrialización en materia hidrocarburífera tales como plantas de procesamiento de gas, de metanol y otros derivados.
Para ello se realizará un estudio preliminar económico, estructural, legal y de viabilidad, incluyendo en la investigación las posibles ubicaciones para cada proyecto en particular. La compañía aportará los recursos financieros, tecnológicos y administrativos para llevar a cabo los estudios, que desembocarán en futuras inversiones.
El acuerdo fue rubricado por el Gobernador fueguino, el presidente de la Franklin Oil -Jaime Melgarejo- y por la vicepresidente Rosario Martone. Cóccaro agradeció la visita de los empresarios y descontó que se pueda avanzar de manera provechosa en los puntos acordados. Por su parte, el Presidente de la empresa destacó la predisposición del Gobernador y también propició una importante proyección en la provincia.
Very good find. Thanks
Well, it was not a news article on Franklin Mining. It was about current Natural Gas sutiation in Bolivia.
Franklin Mining in BBC News
http://news.bbc.co.uk/2/hi/business/4801233.stm
Last Updated: Thursday, 17 August 2006, 23:11 GMT 00:11 UK
E-mail this to a friend Printable version
Bolivia's nationalisation plans in trouble
By Jane Monahan
La Paz, Bolivia
Three months after Bolivia's president, Evo Morales, nationalised the country's oil and natural-gas industry - which has the second largest gas reserves in Latin America - the political motives for the nationalisation are unchanged.
La Paz woman wearing a traditional hat
President Morales wants Bolivia's poor to gain from gas riches
The government remains eager to make sure the country's poor benefit from the nation's natural resources.
But the government has also admitted setbacks.
Bolivia's energy ministry has acknowledged that because of a lack of money, Yacimientos Petroliferos Fiscales Bolivianos, (YPBF) the state energy company, has been unable to increase its shareholdings to 51% of the industry's principal upstream (exploration/production) units.
In other words, the state energy company has failed to gain control of these crucial units, which remain in the hands of the Brazilian state oil company Petrobras, the biggest investor in the sector, and Spain's Repsol YPF.
YPBF has also failed to acquire control of facilities like the industry's refineries, distribution and pipelines.
Foreign investors, which include energy giants Total and BG Group, have continued to control these operations.
YPBF has also missed a 1 July deadline to restructure into an integrated company, as it had been supposed to do under to the nationalisation plan.
Moreover, following its failures, the state energy company has asked the central bank for $180m to help it accomplish the takeovers.
Still popular
YPBF, which was almost entirely privatised in 1996/1997, was re-nationalised in 2004.
La Paz street sellers
The gap between rich and poor remains large in Bolivia
Many of the developments associated with the nationalisation have been beneficial for the government, notwithstanding the latest setbacks.
Gonzalo Chavez, a political analyst at Bolivia's Catholic University in La Paz, says the nationalisation move continues to be very popular, and insists it is seen as a unifying measure.
According to Professor Chavez, the government also went ahead with the nationalisation "to make a break" with the liberal economic measures and privatisation programmes of the 1980s and 1990s, "which failed to fulfil Bolivians' expectations at least in terms of reducing poverty and unemployment in the country".
"The country is very fragmented regionally, socially and even linguistically," he says.
"But independent surveys conducted after the nationalisation showed 80% to 85% of Bolivians supported it."
This is down from 2004, when 95% of Bolivians approved nationalisation in a referendum, yet the percentage remains high.
Chavez support
The principal political reason why the Morales government moved to take control of the hydrocarbons sector, which generates the country's largest revenues, became clear on 16 June, when Carlos Villegas, Bolivia's minister of planning and development, announced a five-year plan.
La Paz presidential office
Mr Morales was elected in December last year on a campaign pledge to increase the state's share of the proceeds from Bolivia's lucrative natural gas industry
Q&A: Bolivia's gas takeover
Mr Villegas said the plan would start "a process to eradicate poverty in Bolivia and in particular among the majority, which consists of farming communities and indigenous groups".
The process would be started , he said at the time in an interview with me, with several measures to generate 90,000 jobs a year; health, education, nutrition and literacy programmes; and with the creation of an environment that would encourage the development of national industries.
In Villegas view, a principal reason why Bolivia is still South America's poorest country and has only a very small middle class, is because Bolivia's private sector "has also been excluded during the last 22 years of de-regulation and liberal economic policies".
"With the exception of a very small group of businessmen that were in a condition to participate in a global economy, the majority of Bolivian businesses - large, medium-sized and small - were in a situation of complete stagnation.
"(But) what we're doing now is to invite Bolivian businesses to participate in services and processes related to the industrialisation of natural gas, to the business of installing natural gas in households and to the business of the installation of natural gas in economic centres, schools and hospitals.
"Bolivian businesses will also have ample guarantees and opportunities for widespread participation in mining, manufacturing, construction, agriculture and housing. Public investments in the entire plan will amount to $6.9bn over the next 5 years, and there will be a lot of foreign direct investments in oil and gas, mining, electricity, petrochemicals, gas-to-liquids, iron and steel."
So whereas Petrobras and Repsol have both cut their investments following the nationalisation, but other investors have been stepping up to the plate.
PDVSA, Venezuela's state oil company controlled by President Hugo Chavez - who is the Bolivian president's main South American ally - has pledged $1bn to develop petrochemical companies with YPBF.
PDVSA has also agreed to train up to 300 YPBF staff in petrochemical production and other hydrocarbon industry skills, according to Jorge Alvarado, YPBF's president.
Global partners
Franklin Mining, a US mining group, signed a memorandum of understanding with YPBF just weeks after the nationalisation.
It plans to set up a joint venture to construct and operate a 10,000 barrels per day gas-to-liquids processing plant that should help Bolivia industrialise its gas and reduce the need for imported diesel fuels.
The plant capacity might be expanded later.
And Russia's Gazprom announced in June that it was considering investing up to $2bn in Bolivia's gas sector and is looking at building gas separation plants and pipelines to export LNG, or liquified natural gas.
On top of that, Mr Villegas is confident that most existing oil and gas investors will accept new contracts after negotiations with YPBF.
"There's nothing that's a supposition about this. It's a reality. With the exception of Petrobras, all the other oil and gas companies have accepted the nationalisation and are negotiating new contracts.
All these companies will fulfil the 180 day deadline for the negotiations (October 31st) and I believe many of them will sign new contracts."
Eduardo Peinado, president of Bolivia's National Chamber of Industries, also thinks most companies will agree to comply with Bolivia's new production-splitting contracts.
Investment in new facilities might be scarce, though.
"The majority will stay," says Mr Peinado. "But the concern is they may only invest in installations that already exist and not put anymore money into exploration."
YPBF's boss rejects this assertion and says the government is insisting that companies seeking new contracts must invest more in exploration.
"Bolivia's reserves of natural gas are 26.5 trillion cubic feet and probable reserves are 22 trillion cubic feet, "says Mr Alvarado.
"Sixty to 70% of the hydrocarbon area in Bolivia hasn't been explored yet."