[ampersand]

how is the newly discovered oil field going to affect brazilian football?

 

[JCamilo]

Ok, Amper, are you telling me that the money of the oil will be used in our society ? What a shock :tongue:

 

[WFA]

someone pull me into the loop here......

 

[G. Facchetti]

LOL

Buy some Petrobras and you can get in on some of the action too

Other than that, no one will feel anything.

Ohh yeah and don't take my words at face value. Premium already built in to Petrobras stock price. If anything there can be massive downside disappointment to unrealization of projected reserves.

 

[G. Facchetti]

Ampersand

Pure play = Petrobras
Side plays = Repsol, BG Group

However, they say Exxon Mobile and Hess might have better positioning

But- you can have no doubt that the gov't will make sure Petrobras gains- that is the safest play. However it is already discounted.

That said, the gov't minister is overestimating the reserves. PBR themselves have said that it might be much much less.

Initial drilling and exploration starts this summer with more expected by end of 2008 and early next year. Stay tuned for details...

 

[G. Facchetti]

Okay apparently I was reading up on this thing and the foreign oil companies gained a lot more than Petrobras. I am thinking the foreign firms have better positioning, although it is weird that Petrobras is the one calling the shots right now and saying that you shouldn't get too excited yet.