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$22.40 -0.01 (-0.04%)
10/10/2008 4:03 PM

Repsol YPF, S.A. (ADR) (REP)

CAPS Rating:
***

The Company is integrated oil and Gas Company engaged in all aspects of the petroleum business, including exploration, development and production of crude oil and natural gas, transportation of petroleum products, petrochemicals, LPG and natural gas.

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Avatar baseballdude (99.33) Submitted: 4/15/08 8:24 AM : Outperform Start Price: $40.64 REP Score: -11.18

Repsol owns 25% of the following:


Brazil holds an estimated 12 billion barrels of crude reserves, South America's second-largest deposit behind Venezuela, according to London-based BP Plc. Should the 33 billion-barrel estimate for Carioca be confirmed by additional drilling, Brazil's reserves would then surpass those of Libya.





``The Carioca well on Block 9 had been tested last year, with reserves put at around than 500 million barrels,'' UBS AG wrote today in an e-mailed report. ``We believe that this is misunderstanding of the names used and that the official was referring to the large `Sugar Loaf' structure on which Blocks BM-S- 9, 21 and 22 are located.''





Petrobras, as the company is known, yesterday said it's still drilling Block 9 in the Santos Basin. Petrobras holds 45 percent of the Carioca project.





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