what the........., page-13

Hi All,

I've been in this since 1.3c and am free carried so I am not concerned. For those that may not have seen the "Presentation" or have forgotten what was in it please see sections from it below.

Also for those that did not see the article on the oil reserves estimated by the Department of Energy please see below.

JMHO there is still a lot of upside from here and I am happy to continue to hold. Time will tell......

Cheers,
Brantley

http://www.atimes.com/atimes/Global_Economy/FD27Dj02.html

# US: Procuring the world's oil
# By Michael Klare
# Apr 27, 2004

# //The one that is likely to receive greatest attention from policy makers is the Caspian Sea basin, consisting of Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Turkmenistan, Tajikistan, Uzbekistan and adjacent parts of Iran and Russia.

According to the Department of Energy, this area houses proven reserves (defined as 90 percent probable) of 17 to 33 billion barrels of oil, and possible reserves (defined as 50 percent probable) of 233 billion barrels. If the amounts were confirmed, they would constitute the second largest untapped reserves after the Persian Gulf area.

# To ensure that much of this oil will eventually flow to consumers in the West, the US government has made strenuous efforts to develop the area's petroleum infrastructure and distribution system. The US first sought access to the Caspian's oil supplies during the Bill Clinton administration. Because the Caspian Sea is landlocked, its oil and natural gas must travel by pipeline to other areas. Tapping the resources requires the construction of long-distance export lines.


# The administration was reluctant to see Caspian oil flow through Russia on its way to Western Europe, since that would allow Moscow a degree of control over Western energy supplies. Transport through Iran was prohibited by US law because of that country's pursuit of weapons of mass destruction. So Clinton threw his support behind a plan to transport oil and gas from Baku in Azerbaijan to Ceyhan in Turkey via Tbilisi in the former Soviet republic of Georgia. Before leaving office, he flew to Turkey to preside at the signing ceremony for a regional agreement permitting construction of the $3 billion Baku-Tbilisi-Ceyhan (BTC) pipeline.//