Message-ID: <12236403.1075841952039.JavaMail.evans@thyme> Date: Fri, 18 Jan 2002 02:31:59 -0800 (PST) From: emaildelivery@businesswire.com To: tx-industrial-info-res@businesswire.com Subject: Alaska: America's Last Oil and Gas Reserve, in an Advisory by Industrialinfo.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: emaildelivery@businesswire.com X-To: TX-INDUSTRIAL-INFO-RES@businesswire.com X-cc: X-bcc: X-Folder: \ExMerge - Thomas, Paul D.\Deleted Items X-Origin: THOMAS-P X-FileName: paul d thomas 6-26-02.PST Welcome to eMail News Delivery, a service from Business Wire. Here is your Industrial Information Resources Inc. news release. If you have received this in error please send a message to: eMailDelivery@businesswire.com with the following command in the body of the message: unsubscribe TX-INDUSTRIAL-INFO-RES If you have questions about this service, please contact your Business Wire Account Executive or service@businesswire.com BW2007 JAN 18,2002 2:30 PACIFIC 05:30 EASTERN ( BW)(TX-INDUSTRIAL-INFO-RES) Alaska: America's Last Oil and Gas Reserve, in an Advisory by Industrialinfo.com Business/Energy Editors HOUSTON--(BUSINESS WIRE)--Jan. 18, 2002--The following is an advisory by Industrialinfo.com (Industrial Information Resources Incorporated; Houston). When Secretary of State William Seward purchased Alaska from Russia on March 30, 1867 for $7.2 million, his goal was to increase the United States' (U.S.) landmass. In reality "Seward's Folly" has arguably turned out to be, the single best deal the U.S. government has ever completed. While Alaska does cover over 656,000 sq miles, its greatest contribution to the U.S. has been, and will continue to be, its natural resources. The first major oil reserve in Alaska was first discovered in 1968 in Prudhoe Bay. Soon thereafter, construction of the Trans-Alaska Pipeline kicked off in 1974 and by 1977 oil was being transported 800 miles south to Valdez, Alaska. Today, the Trans-Alaska Pipeline transports 20% of the annual U.S. oil production. With the discovery of the oil and natural gas reserves on the North Slope, Alaska was thrust into the limelight of the U.S. energy industry. Alaska boasts over 9 billion barrels of oil reserves yet to be recovered. In addition, Alaska has the potential to recover 4 billion barrels of liquid natural gas and up to 65 trillion cubic feet of raw natural gas. With the traditional oil and gas reserves in the lower 48 states slowly depleting, Alaska remains the best hope to meet the fuel needs of the U.S. energy industry in the future. Having resources of this magnitude provides the state of Alaska with numerous capital opportunities. Over $38 billion will be spent in Alaska developing, processing and transporting the oil and gas reserves in the next few years. New finds will be developed and existing finds will be expanded as the industry seeks to develop the natural resources to their utmost. Companies such as Phillips Alaska, ARCO Alaska, BP Canada Energy, Foothills Pipeline, Yukon Pacific and Arctic Resources are developing the oil and gas reserves at a feverish pace. Industrialinfo.com provides daily news related to the industrial market place including industry alerts and databases for the energy and industrial markets. For more information on trends and upcoming construction activities for the oil and gas markets as well as other industrial sectors send inquiries to energygroup@industrialinfo.com or visit us at www.industrialinfo.com and www.iirenergy.com. --30--AA/ho* CONTACT: Industrialinfo.com, Houston Ed Weatherly, 713/783-5147 KEYWORD: TEXAS ALASKA INDUSTRY KEYWORD: ENERGY GOVERNMENT OIL/GAS SOURCE: Industrialinfo.com For the best viewing of the news releases please use the following email settings: Courier 10 point. -Notice of Copyright and General Disclaimer- (c) 2000 Business Wire. All of the releases provided by Business Wire are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire`s members who are solely responsible for their content, accuracy and originality. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission. - Notice of Copyright and General Disclaimer -- (c) 1999 Business Wire. All of the releases provided by Business Wire are protected by copyright and other applicable laws, treaties and conventions. Information contained in the releases is furnished by Business Wire`s members who are solely responsible for their content, accuracy and originality. All reproduction, other than for an individual user`s reference, is prohibited without prior written permission.