This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Statoil ASA's Management Hosts Exploration Seminar (Transcript)

Please note that questions can be posted by means of telephone only not directly from the web. The dial-in numbers for posting questions can be found on the website. All the presentations are published on statoil.com. I currently ask you to make special note of the information regarding forward-looking statements, which is attached to the presentations.

It is now my privilege to introduce Statoil’s Executive Vice President for Exploration, Mr. Tim Dodson. Please.

Tim Dodson – Executive Vice President, Exploration

Thank you, (Hilda) and good afternoon and good morning to everyone wherever you might be. And welcome to Statoil’s exploration seminar and I guess we couldn’t have picked a much better day, a little bit fortunate with that, but that's how it is sometimes. Luck does play some part in exploration, but hopefully as we will be able to demonstrate to you through the next three hours is not only about luck.

And of course what I am thinking about is the updated information on the Pao de Acucar discovery in the Campos basin in Brazil. We issued a press release at 12 o’clock as do the operator Repsol, where we have communicated significant upgrade in volumes for the pre-salt discovery in the Campos basin. And as you have probably seen, we are now communicating volumes of more than 700 million barrels recoverable of light oil and 3 TCF of gas. And for those of you who need a conversion fact of that, so you can multiply by 180 to get barrels of oil equivalents. So, this in itself is a joint discovery, more than 1 billion barrels, very significant in itself, but as stated also in the press release, very important for our position otherwise in Brazil. And we think also very important for the acreage, which we picked up in the Angola, the pre-salt acreage which we picked up there at the end of 2011.

2 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs