Franklin’s processing plant in Tierra del Fuego (Argentina) will convert the isolated gas in this region which is isolated from the rest of Argentina into diesel oil which can then be shipped.
Tierra del Fuego, named land of fire by sailor’s on Columbus’ ship, lies at the bottom of the world. Tierra del Fuego is located at the tip of South America on the Argentine side and it is separated from the rest of Argentina. It’s isolated and rich, rich, rich with gas deposits.
However, the plan is for more than just diesel. The joint venture with the Argentinian government plans to develop LPG, methanol and other gas byproducts for the processing plants as well.
Tierra del Fuego’s gas deposits have been waiting there for millions and millions of years. There are several well established oil and gas companies with large tracts of land. In fact Steve Farris, CEO of Apache Oil and Gas, recently likened Tierra del Fuego to Australia and Egypt in the roaring 90’s.
In late April Apache Oil provided an excellent report on the quarterly conference call in which Farris noted: “Argentina set a production record for the quarter, it averaged 10,800 barrels a day and 198 million cubic feet gas a day, and we really have yet to touch one of the assets that has the most upside, and that’s in Tierra del Fuego.
“Interestingly, we just signed a small, but in our estimation significant, contract in the Neuquen Basin for gas, for 5 million a day. And the price was $2.64, that’s about $1.50 higher than the price we used in our acquisition forecast when we bought the Pioneer assets. Argentina frankly reminds me a lot of Australia and Egypt at the time we first entered in the early 90s.”
However, the plan is for more than just diesel. The joint venture with the Argentinian government plans to develop LPG, methanol and other gas byproducts for the processing plants as well.
Every indication is extremely positive that oil and gas companies with extensive experience are experiencing boom times in Tierra del Fuego and the gas is there for processing.
Contact:
Investor Relations
A. Austin & Company
1-702-386-5379
Jaime Melgarejo Jr., President
Franklin Mining, Inc.
2764 Lake Sahara Driveoli
Suite 111
Las Vegas, NV 89117
Website: http://www.franklinmining.com
Phone: 702-944-8972
Fax: 702-838-5130
Source: El Sureno and Business Infomation Systems
About Franklin Mining, Inc: Franklin Mining, Inc. has mining and exploration interests in the United States, Argentina and Bolivia including a wholly owned subsidiary, Franklin Mining, Bolivia S.A, and 51% ownership in both Franklin Oil & Gas, Bolivia S.A. and Franklin Oil & Gas, Argentina S.A.
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in Franklin Mining, Inc.’s filings with the Securities and Exchange Commission. These risks could cause Franklin Mining, Inc.’s actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, Franklin Mining, Inc.
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