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BG strikes oil at Iara well in Brazil

08-Aug-2008
Story Timeline:  61 days

LONDON (Reuters) - BG Group has made a "material" new oil discovery at its Iara well in Brazil's subsalt reserves, its sixth-straight success in the deep water Santos Basin since drilling began, the gas producer said on Friday. BG shares were indicated up about 4 percent. Geologists say Brazil's subsalt reserves, which span an area from the Santos Basin in the south to the Campos and Espirito Santos basins up the coast, could exceed 70 billion barrels -- more than OPEC members such as Libya. Brazil's Petrobras... [read full story]                    

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Latest article on this story:

Brazil's Message To Obama-Pelosi And The Don't Drill Democrats...(HUGE OFFSHORE OIL DISCOVERY!!)

freerepublic.com 09-Aug-2008
First article on this story:

BG Group: has made material oil discovery offshore Brazil

marketwatch.com 08-Aug-2008
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