Big News letter from greenchip review
they are pumping up the Libian oil, calling it the new middle east.....don't know about that, but sure has the attention of alotta folks...... 8 )
Wednesday, January 3rd, 2007
"African oil exploration is booming... the stampede for oil in Africa has continued..." –Associated Press, December 31, 2006
"It's one of the fastest growing petroleum regions in the world" -US Energy Secretary Bodman, December 1, 2006
"Africa's proven oil reserves more than doubled from 1980 to 2005 to 114.3 billion barrels...That is a growth rate comparable to the Middle East and far outpaces a worldwide increase of 84 percent during the same period."
Libya alone contains 39 billion barrels. In fact, the New York Times has reported that Libya possesses "enough to meet the daily imports of the United States for eight years."
A tiny $7 Canadian company has acquired 3,841 square miles of oil rich land in Libya—and started drilling last September.
I'm predicting each $7 share will be worth $21 in 24 months.
Dear Reader,
It's the only place left on the planet where conventional oil comes out of the ground so clean, it costs just $1 to produce.
With oil trading for $61 a barrel, no wonder nearly every major oil company is there to claim their piece of the pie.
Even three OPEC nations have joined the hunt.
In fact, on December 1, US Energy Secretary Bodman told a group of ministers and executives that "it's one of the fastest growing petroleum regions in the world . . . and [is] of growing strategic energy importance to the U.S., particularly as it tries to diversify its supply of oil and gas."
Is he talking about Russia . . . the Canadian oil sands?
Not even close.
He's referring to Africa.
For decades, Africa's natural resources have been neglected. With constant civil wars and brutal dictatorships, Africa was just too politically risky.But with oil prices at record levels, all of that has changed.
Right now, there's an oil rush occurring in Libya, the crown jewel of Africa. It's estimated that Libya has 39 billion barrels of the cleanest oil left on the planet.
And everybody wants it.
But there's one company that's been there since the bidding started in 2005. And last month they announced that their first drilling effort "has found indications of multiple oil-bearing sandstone reservoirs..."
The company's stock immediately shot up nearly 20% in the week after this news broke. In fact, this stock is up about 50% since I recommended it last month to members of my investment advisory report, Orbus Investor.
But this stock is headed to $21 this year. Here's why...
A Fossil Fuel Time Capsule
The potential in Libya is enormous.
After all, no less an authority than the New York Times has suggested that Libya possesses "enough to meet the daily imports of the United States for eight years."
While that fact alone makes this story a compelling one for investors, I still haven't gotten to the good part...and that is:
One small company has outmaneuvered the largest oil companies in the world and won the rights to 6,182 square kilometers of land in Libya's Ghadames Basin...a proven oil producer.
I'm writing you today to tell you everything you need to know to tap into this "Fossil Fuel Time Capsule"—and get your share of oil profits that the Big Boys got squeezed out of—before it's too late.
Here's what it's all about...
The Libyan Story—A New Oil Frontier
Oil was first discovered in Libya back in 1959-by, ironically enough, New Jersey's Standard Oil...the company now known as Exxon.
Just two years later, in 1961, Libya was up and running as an exporter...and by 1969, the country ranked as one of the world's Top Ten oil producers, reaching a peak output of 3.3 million barrels per day just one year later.
But 1969 was also the year that Qaddafi stormed to power...and that would prove disastrous to the future of Libyan oil exports.
Under Qaddafi's new government, oil production dropped off significantly. In fact, Libya currently produces roughly 1.6 million barrels per day—the same level they were producing ten years ago.
The truth is, for years, Qaddafi was wasting a tremendous opportunity. Libya holds the largest oil reserves in Africa—but without production, that's meaningless.
As ridiculous as it sounds, for decades Libya's reserves sat virtually untapped. In fact, only one quarter of the country had ever been explored as recently as two years ago.
But that's when everything changed...
Now Up For Bid: Libya's 39 Billion Barrels
In August of 2003, Qaddafi did something remarkable.
About Sam Hopkins
Hot off the trail from another developing country and straight to the international investment desk at Wealth Daily, Sam Hopkins is turning the globe into an investor's playground.
You see, while some market researchers are content with flipping through the Journal or tuning in to CNBC for their next "big" 3% return, Sam doesn't have the patience to wait for news to come to him. So he rolls up his sleeves and takes his search abroad, scouring everywhere outside the U.S., attending conferences and talking to common folk to find his readers those tiny and time-sensitive companies you would otherwise only hear about after they explode.
Born and raised in Kansas City, home of world-class barbeque, Sam's fluent in seven different languages, holds dual degrees in linguistics and international relations...and puts them to good use, touring facilities and shaking hands in places where he's the ONLY American—and sometimes, the only Westerner.
Sam has also spent time working on Capitol Hill, learning the ins and outs of Washington politics while specializing in international policy. He took responsibility for a whole host of terrorist attacks, most notably the December 1988 bombing of Pan Am Flight 103...an attack that took 270 lives.
The Libyan government also arrested and extradited its nationals involved in that bombing—and a similar attack on a French airliner in 1989—and paid $2.7 billion to the victims' families.
Then, in December 2003, Qaddafi agreed to a deal with the United States and Great Britain, promising not to pursue weapons of mass destruction.
And that's what got the U.N. sanctions lifted.
But that was just the beginning. In May of 2006, Qaddafi's actions got Libya taken off the U.S. list of countries that sponsor terrorism.
In short, the man Ronald Reagan once called a "mad dog" has evolved into our sweet uncle Muammar...
But let's keep in mind...Qaddafi didn't go through all of this because he saw the error of his ways.
Instead, he saw oil prices shooting up to over $60 a barrel...and he wanted to cash in.
So Qaddafi told the U.N. what they wanted to hear. And then he told the oil companies to line up...and to have their checkbooks open.
39 Billion Barrels of Oil:
Here's How You Can Stake Your Claim
It happened nearly two full years ago...
After two decades' worth of strict trade sanctions...Libya's oil fields were once again open for business.
So, in late January 2005, a crowd of more than 300 black-tied international businessmen gathered to watch a series of envelopes get opened up. No, they weren't attending the Academy Awards.
Instead, they had gathered to hear Libya's national oil company reveal the winners of a once-in-a-lifetime "auction" for the exploration rights to parcels of Libyan real estate.
Fifteen "blocks" for exploration—totaling roughly the size of Louisiana—were put up for auction.
And a total of 120 companies competed for the chance to tap into Libya's oil-rich ground.
The bidders were a regular "who's who" of the power brokers in the oil game. BP was there. So was Royal Dutch/Shell, ChevronTexaco, ConocoPhillips and ExxonMobil. You just knew that the Big Boys weren't going to let an opportunity like this—the chance to open up a true "Fossil Fuel Time Capsule"—pass by.
Here's what happened: Only 12 companies won bids in the first round in January 2005. And as you might expect, the bidding was fierce.
But one small company—a Canadian firm that wasn't even a year old at the time—outmaneuvered the "Big Boys" and won the exploration rights to one of Libya's most coveted properties.
It's a 6,182 square kilometer block in the Ghadames Basin in Northwest Libya...and the existing data suggest the property has a minimum of 25 to 30 exploration prospects.
Newsweek Called it "An Untapped Oil Oasis"
According to the U.S. Department of Energy, Libya has an estimated 39 billion barrels of oil waiting to be tapped.
Newsweek Magazine called Libya "an untapped oil oasis."
And Libya's government has set an ambitious target to almost double oil output-to three million barrels a day by 2010.
"Libya's light sweet crude is ideal for refining into gasoline, and its oil fields are far closer to U.S. and European markets than those in the Gulf, where the Straits of Hormuz—a choke point between Iran and Oman—could be blocked in the event of war."
—Associated Press, May 16, 2006 And now, with drilling underway at this potential whopper in Northwest Libya, you can get in on the action.
I've just finished putting together a comprehensive, easy-to-read research report that tells you everything you need to know...
It's called "Fossil Fuel Time Capsule: How to Profit from Libya's 39 Billion Barrels of Oil."
This report spells out all the relevant details about the remarkable company that outmaneuvered some of the biggest names in the oil business to stake a claim at one of the world's most promising oil properties.
You'll learn how they pulled it off...and what the prospects look like (here's a hint: they're huge) for the years ahead.
Best of all...you'll get access to this report—FREE of charge—so you can stake your claim right away.
I'll tell you how to get your copy in a moment—but first...I need to tell you about the "secret" to Libyan oil that makes this opportunity even greater than I've already described...
AI
