amadeus greg ambrose, page-10

Good one CB.

Let's talk about Hess.

As we all know they have invested heavily in the Beetaloo ,
quite a bit north of CTP. Fine.

NOW - they have announced that they are moving executive staff to Perth. (Don't ask for the link , I haven't got it right now , it's in the memory bank.Scary)

In 2008! they conceded they had only 10 years of oil resources remaining. That's a very short time scale in the scheme of things.

Intersting isn't it?

"Our company invested $4.8 billion in capital and exploratory expenditures in 2008, nearly all of it focused on finding, developing and producing energy resources. This investment has helped us to attain a reserve life of 10 years and build a strong foundation for sustainable growth with assets geographically balanced between the United States, Europe, Asia and Africa."


http://www.hess.com/reports/sustainability/US/2008/Message%20from%20Our%20Chairman/default.aspx