Franklin Mining, Inc. (FMNJ)

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FMNJ--- DD

Bolivian President names Ramiro Suarez Soruco new YPFB head
12-08-05 Ramiro Suarez Soruco has been appointed by Bolivia's President Eduardo Rodriguez president of state oil company YPFB.
Suarez replaces Carlos D'Arlach, who was appointed in February and was fired after he said that on its opinion for private oil companies the new law is not attractive for investment and has articles that must be modified" local press quoted D'Arlach as saying.

Rodriguez pick Suarez, a geologist and oil industry veteran, to get YPFB on its operating role since its operations when private in the 1990s.
"We are starting what will be, I stress, a state undertaking, a strengthening which will bring better days for Yacimientos [YPFB]... responsible for supporting oil activity throughout its production chain," Rodriguez was quoted as saying.

The hydrocarbons law passed last May is supposed to make head ways for the hydrocarbons sector under the lead of YPFB.
However, the changes in the tax and royalty bases take and the stipulation that present joint venture contracts have now be migrated to new contracts has on hold most of private investment from oil companies.


a deal!

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