Thursday, January 26, 2006

Lies, damned lies, and oil reserves.


MarketWatch: Repsol cuts proved reserves by 25%.


Oil and gas explorer Repsol YPF on Thursday cut its proved-reserves estimate by 25%, citing new laws in Bolivia that make it more costly to extract gas as well as more field information from Bolivia and Argentina.

A re-run: No Limit WTI Hold 'Em.