the following is and exerpt from fxpe's north sea up and coming venture. could also be very huge!
TRACS International Ltd were engaged to prepare a competent person's report on the Anglesey Prospect. In April of 2007, the report estimated that the Anglesey Prospect could represent total potential reserves of up to 234 million barrels of recoverable oil. At $60 per barrel, Fox's 33.33% interest could potentially amount to approximately $4.68 billion.
fxpe has the option to increast their interest to 60% after testing is done! also huge!!
"Fox Petroleum has signed a Farm-in Agreement with Granby Oil and Gas plc and Atlantic Petroleum as a co-venturer in this licence, having received approval from the Secretary of State for BERR (formerly DTI) in the UK. As part of the agreement, Fox Petroleum maintains the option to increase its stake from 33.33% up to 60% after completion and appraisal of seismic data."
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