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Article: BG bubbles on Brazilian buzz.
- Article from:
- Daily Mail (London)
- Article date:
- December 13, 2007
CopyrightCOPYRIGHT 2007 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Geoff Foster
IT WAS a case of light the touch paper and stand clear as shares of oiland gas explorer BG Group gushed to 1128p in early trading on a hefty turnoverof 21m before closing 4p better at 1083p.
Rumours of stakebuilding by the People's Bank of China continued to do therounds but dealers became more excited by talk that the group is on the vergeof announcing a major oil find in Brazil.
BG already owns a 25pc stake in the Tupi oil field in Brazil, about 155 milesoff Rio, which analysts believe could yield a total of 8bn barrels of lightcrude and represent 40pc of the oil ever found in Brazil.
The Tupi find, announced in ...