Hydrocarbons Daily Record (19/02/07)

HYDROCARBONS DAILY RECORD: MONDAY, 19 FEBRUARY 2007 By J. Brock (FINN) At 1800 LMT on Monday, 19 February 2007 Light Sweet Crude down44 Cents to settle at $58.98 on the New York Mercantile Exchange and Brent Crude lost 41 Cents to settle at $58.54 on London’s ICE Futures Market. TRENDS: Warmer weather in the US overpowered the tension in the Niger Delta and helped to lower the price of crude today. THE MARKETS: FTSE 100 closed at 6,444.40 up +24.87 FTSE 250 closed at 11,636.10 up +79.75 FTSE Small Cap closed at 4,088.o0 up +14.93 DJI closed at 12,765.01 up +2.56 NASDAQ closed at 2,496.31 down -0.79 S&P500; closed at 1,444.54 down -1.27

REGIONAL DEVELOPMENTS:

(Argentina)

Argentina's Río Negro provincial government has announced that Eleven companies have shown interest in bidding thus far for the exploration of seven oil blocks in the Neuquén basin of Argentina's Río Negro province. Companies expressing interest are Spanish oil major Repsol YPF (NYSE: REP), Brazil's federal energy company Petrobras (NYSE: PBR), Canadian oil company Petrolifera Petroleum (TSX: PDP), Anglo-Argentine firm Pan American Energy (NYSE: PAE), the Argentine subsidiary of US firm Vintage (NYSE: VPI) and local firms Pluspetrol, Interenergy, Tecpetrol, Petrolera Entre Lomas, Compañia General de Combustibles (CGC) and Oil M&S.; The blocks are Agua Amarga, Aguada de Córdoba, El Cuy, Lago Pellegrini, Meseta Baya, Vaca Mahuida and Villa Regina. Rio Negro Province will keep selling bidding information until March 20. Technical offers will open on 21 March. Economic bids should be open on April 26 and award the blocks could take place from May-June, A light news day today with few developments to report regionally or internationally. (Falkland Islands) A huge Global Warming interview to be presented in Tuesday’s Hydrocarbons Daily record.

Relevant Share Prices for Monday, 19 February 2007:

Tullow Oil up +6.50 to stand at 396.50 Desire Petroleum down 1.50 at 30.00 FOGL unchanged at 88.00 Rockhopper Exploration unchanged at 44.50 Borders & Southern up +0.50 at 33.50