Replies to post #79008 on Biotech Values

[WID]

[OT] HES: Hess Corp. (HES US) fell the most in the S&P 500, dropping 11 percent to $60.30. The fifth-largest U.S. oil producer slid on concern its exploration in Brazil may be limited, after Energy Minister Edison Lobao told reporters that state- controlled Petroleo Brasiliero SA should explore part of the region even if it fails to win a bid for an exploration block.

[OakesCS]

Dew,
As of late 2005 BM-S-22 was Hess's only Brazilian asset (they retained a 40% interest after selling the other 60% to xom & petrobras) but I think they have at least 2 others now (bm-es-20 bm-c-15). Look for info on wells Azulao & Guarani. They are continuing to explore the Santos & Esperito basin although they've cut their capex budget by ~35%. Petrobras recently announced a new shallow water oil discovery in a block that formerly belonged to Hess.

this may be useful
http://rigzone.com/news/article.asp?a_id=76780

I dont know much about Hess or exploration efforts in Brazil and i have to be careful about what i say. The above is all public domain but hopefully it will be helpful.
regards,
Charlie