I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Thursday 29 May 2008

SML and Kep - Will the rise continue with this news?

Petrobras Hits in Deepwater GOM
Wednesday, May 28, 2008

Petrobras announced the discovery of oil and gas in ultra-deep waters in the Central Gulf of Mexico, in the U.S., via its Petrobras America Inc. subsidiary, based in Houston, Texas. The discovery was made via the Stones # 3 well, drilled to perform the exploratory assessment of the Stones discovery, which is operated by Shell and located in Block WR 508, in ultra-deep Walker Ridge Quadrant waters. Petrobras America Inc. holds a 25% stake there. The remaining partners, in addition to Shell (35%), are Marathon and ENI, with 25%, and 15%, respectively. The Stones # 3 well is located at a depth of 2,286 meters from the water line and reached a total depth of 8,960 meters under the sea bed, finding oil in multiple reservoirs. Future drilling and assessment activities are being planned to define this discovery’s size and commercial viability.
This result confirms the potential of significant oil reserves in this type of reservoir in the Gulf of Mexico, where Petrobras operates the Cascade and Chinook fields which at the present are in the production development and facility construction phase.Petrobras will be the pioneer company in production in this type of reservoir in ultra-deep waters. It will also pioneer using an FPSO (Floating Production, Storage and Offloading) type platform in the region, the production of which is slated to go online in June 2010. In this same area, Petrobras also holds 25% stakes in the Saint Malo field. This field is operated by Chevron and is in the assessment and extension exploratory drilling phase. Also, studies are being done to the production development project for Saint Malo.
Holding stakes in these discoveries confers Petrobras a differentiated position in the Walker Ridge Quadrant and its neighboring areas. Furthermore, these discoveries are aligned with the company’s Strategic Plan and are important steps in the consolidation of a quality Exploration and Production project portfolio in deep waters in the Gulf of Mexico."

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