150 million barrels found - shale. Don't know if anyone here follows other oil stocks but YPF just found 150 million barrels. I have for dividend. CPL too. But look see. Hopefully OOAg someday gets assets from Lanza and has shale find too.
UPDATE 1-Argentina's YPF says makes big shale oil find
Tue May 10, 2011 8:08pm GMT Print | Single Page[-] Text [+]
* Discovers 150 million barrels in Neuquen province * Company says find represents 35 pct of its oil reserves * YPF's crude output has dipped in last few years
(Adds quotes, context) BUENOS AIRES, May 10 (Reuters) - Argentina's biggest energy
company, YPF (YPFD.BA: Quote), said on Tuesday it had made a large
shale oil discovery that was equivalent to 35 percent of its
current crude reserves. The discovery at YPF's Loma La Lata property in Neuquen
province could eventually help put the brakes on falling oil
production in Latin America's No. 3 economy, where energy
demand is rising due to strong economic growth. YPF Chief Executive Sebastian Eskenazi said the company had
discovered 150 million barrels of potential resources. "The important thing about this ... is the fact that this
is new energy," he said in a televised speech. Federal Planning Minister Julio De Vido said the discovery
represented 8 percent of the country's total crude reserves. According to the U.S. Energy Information Administration,
Argentina's proved petroleum reserves in 2009 totaled 2.62
billion barrels. Argentina has been forced to import more fuel to meet its
needs in recent years and critics blame government intervention
in the market and political uncertainty for discouraging
investment in exploration. Tuesday's announcement comes months after YPF said it had
found a huge deposit of unconventional natural gas that would
be equivalent to a quarter of the country's proven reserves in
the same region. [ID:nN07279120] Soon after the Argentine find, a U.S. Department of Energy
report meanwhile showed that Argentina holds more natural gas
trapped in shale rock than all of Europe does -- a
774-trillion-cubic-feet bounty that could transform the outlook
for Western Hemisphere supply. (DOE report:
link.reuters.com/byd98r)
(Reporting by Helen Popper;editing by Sofina Mirza-Reid)
(helen.popper@thomsonreuters.com; +54 11 4318 0655; Reuters
Messaging: helen.popper.reuters.com@reuters.net))
