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Monday, May 01, 2006 4:21:19 PM
LAS VEGAS--(BUSINESS WIRE)--April 26, 2006--Franklin Mining, Inc. (OTC Pink Sheets:FMNJ - News), through a new subsidiary, Franklin Oil & Gas, Bolivia, has signed a Memorandum of Understanding with Yacimientos Petroliferos Fiscales Bolivianos (YPFB) for the construction and operation of a gas-to-liquid diesel fuels refinery.
This is the first paragraph of one of their most recent press releases.
Here is the last paragraph of the the press release
Bolivian President Evo Morales Orders Army to Immediately Occupy Natural Gas Fields
Bolivia has South America's second largest natural gas reserves after Venezuela, and all foreign companies must turn over most production control to Bolivia's cash-strapped state-owned oil company, Yacimientos Petroliferos Fiscales Bolivianos, Morales said.
We are already working with the Government. This announcement in essence just eliminated a lot of our competition in Bolivia. I think this is huge for us.
It is also my understanding, our CEO of Franklin mining's Great Grandfather was the President of Bolivia. I am sure that bids well for us. Its like being a Bush or Kennedy in the US the way i see it.
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