Genvevabird sent me this to post on this board.

================================================Hello Sharpjm..you are pretty sharp with your highlight on NOC''s "emphasis on enhanced oil recovery or EOR to counter on-going depletion of existing reserves and this process will also improve overall new production....existing oilfields are undergoing a 7 to 8 % natural decline rate. Libya''s challenge is to maintain production at its mature fields,while finding new oil and developing new discoveries.AnaLYSTS BELIEVE that production at existing fields expected to fall by around 400,000 bpd by 2010.EOR techniques could increase existing production by around 250,000 bpd."The facts on Lybya''s interest in EOR is quoted from Sharppejm''s post entitled "some reading off the NOC website.

Sharpjm mentioned that he was thinking aloud that perhaps wwf might be interested in pursuing the enhanced oil recovery technology in Libya besides being involved with the ptoposal for Libyan oil refinery construction and ownership .Well foley is a sharp and astute businessman in the oil industry.He started his career in the oil industry from scratch with a hands on approach very early on in his manhood.Consequently he has developed an intimate practical knowledge of the industry,including an enhanced ability in recognizing and sniffing out profitable money churning oil projects.

Was told that WWF is very much interested in negotiating on EOR projects across North Africa whether in Tunisia or Libya.These EOR ''s are reputed to be cash cows requiring minimal capital cost investment. Positive cash flow returns are almost nstant ..approximately 4 to 6 month investment time frame.Each EOR project can generate over 2o million dollar profit and there are rumours that several are in the negotiation or finalization process.The company has the technology to recover oil from depleting fields through the rumoured purchase of a canadian oil recovery engineering company .I understand that this Canadian Engineering company has visions to become a global giant in this area of EOR expertise.For further information perhaps Ian will be more than happy to enlighten us.on excatly what is EOR in the oil industry.

I am just sharing my information ,you are at liberty to believe or reject outright what I have said, but plucking my plumes is a definetely no, no !!

As an ending note,I love the fun game of guessing when we will be trading and I will be joining Diabolical and volatile Agent 999 in choosing next week However I am unable to specify exact day..it could be between next Wednesday to Friday. Have fun everybody..join in guessing the trade resumption date.

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