Franklin Mining, Inc. (FMNJ)

[americano]

Economy The nationalization gives first $us 32 Petrobras million, Andean and Total they will today deposit that amount of money to the Central bank. This payment corresponds to 32% of additional participation for YPFB. Until the 2 of October, the state one will receive around 160 million? THE FIELD SAN ALBERTO? In the photo it is seen two workers of Petrobras who operate one of the valves. The gas goes to Brazil. Print this note Recommends this note Opinions on this Petrobras Note, Andean and Total they will today deposit first $us 32.3 million corresponding to the participation of YPFB by the gas production of the megacampos San Alberto and San Antonio, they informed yesterday to the Reason sources into the Brazilian state company. The operator of San Alberto and San Antonio is Petrobras, but "the payment will become on the basis of the participation of each one of them in the megacampos", explained another source of the oil sector. It added that Andean - filial of the Hispanic-Argentinean Repsol YPF- it has a participation of 50% in both fields, Petrobras 35% and Total rest 15%. First it will pay $us 16.17 million, the second $us 11.30 million and third, $us 4.84 million. The informant said that the payment will be made cash in hours in the morning and in the fiscal account number qualified by the Hydrocarbon Ministry in the Central bank of Bolivia (BCB). According to the resolution of the Hydrocarbon Ministry, approved the 25 of August, the payments on the value of the production of the main gas fields must be done days 1, 11, 18 and 25 of September and the 2 of October. Article 4 of Supreme Decree 28701 indicates that "for the fields whose registered production average of natural gas of year 2005 has been superior to the 100 million daily cubical feet, the value of the production will be distributed of the following form: 82% for the State (18% of exemptions and participation, 32% of IDH and 32% through an additional participation for YPFB), and 18% for the companies ". With that money, the Moral administration of president Evo hopes to fortify to state the oil one and to assume the control of all the hidrocarburífera chain, as it establishes the decree of nationalization of the 1 of May. Sources of the Executive authority informed to the Reason that the credit of $us 180 million - that were going to be asked for the Central bank of Bolivia to fortify to state the oil one no longer will be necessary. "They are around 160 million dollars that will receive Deposits. Most probable it is than 180 million of the Central bank will not be necessary ", added. On the other hand, the member of the directory of YPFB Mariano Dupleich announced that the project of law for the state reorganization of the oil one is ready. He said that Tuesday the directory will meet to approve the project. According to the norm, YPFB will change of name and will work as holding (society or financial group with interests in other companies), very similar to Petrobras, PDVSA or PEMEX of Mexico.