Weekly Report - 3 August 2004
Tracking trends
CUBA | Oil find inconclusive. Repsol-YPF has found evidence of oil in the Yamagua-I field 30 kilometres off Cuba's northern coast (one of six it is exploring). However, the find fell short of commercial viability. The oil company says it believes there may be better-quality oil at greater depths than the 3,300 metres drilled in this first well. Repsol-YPF had classified Cuba as a 'high risk' prospect with only a 20% chance of striking oil.
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