Saturday, October 17, 2009

OGX Finds 1.5 Billion Barrels of Oil off Brazil Coast

Oct. 14 (Bloomberg) -- OGX Petroleo e Gas Participacoes SA, the oil firm controlled by billionaire Eike Batista, said it may have found as much as 1.5 billion barrels of crude in one of its blocks off Brazil’s southeastern coast after drilling a well.

The BM-C-43 block, located in the shallow waters of the Campos Basin, may hold between 500 million and 1.5 billion barrels, based on well information and seismic data, Rio de Janeiro-based OGX said today in a regulatory filling. The company owns all of the block, according to its Web site.
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David Tice Gold to $3000

Among the cavalcade of gold bulls to recently grace Tech Ticker's stage, David Tice is something of a centrist. Gold will hit at least $3000 per ounce before the current rally ends says Tice, Federated's chief portfolio strategist for bear markets. The forecast falls roughly in between Peter Schiff 's $5000 per ounce call and Jimmy Rogers 's forecast of $2000.






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Is the Dollar Dead - Russia Today Cross Talk

In this edition of the program we have a look at what is happening to the US dollar. Is it doomed? Probably not, yet its global hegemony is slowly but surely coming to an end.




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