From the latest company's drilling update....17 Feb

http://moneyam.uk-wire.com/cgi-bin/articles/200402170700084897V.html

Can anyone with mining knowledge explain these terms....

What does sidetracking mean? Approx how ong will that take?
Approx. how long will it take to correct a deviated section?
Is 'crude oil in shale samples' a good indication that there is oil?
Is 'Gas-bearing porous sands being logged' a good indication that there is gas?
Basically what does logging involve ?

Any views re AEX potential??

Regards
Stephen

S.Korea offers to trade electricity for nukes


Last Updated(Beijing Time):2005-07-13 09:38


South Korea is willing to provide electricity aid directly to the Democratic People's Republic of Korea (DPRK) if the latter agrees to drop its nuclear program, said South Korean Unification Minister Chung Dong-young on Tuesday.

In a televised press conference held on late Tuesday afternoon, Chung unveiled the main contents of the so-called "important proposal" that South Korea made to the DPRK at an inter-Korean vice-ministerial talks held in late May in an effort to help resolve the nuclear issue on the Korean peninsula.

Chung said if the DPRK agrees to dismantle its nuclear program,South Korea is willing to "provide 2 million kilowatt of electricity annually" to the DPRK by building inter-Korean borderpower line.

Coincidentally with the resolution of the nuclear issue on the Korean peninsula, South Korea will complete construction of the power line "in three years."

Chung told reporters he already explained the proposal to the DPRK's top leader Kim Jong Il when they met in Pyongyang in mid-June.

Local media also reported the US side gave positive reaction when Chung was in Washington to brief the US leadership of his meeting with Kim and the "important proposal" in early July.

In exchange for the power provision, the proposal calls for ending a suspended project to build two light-water reactors in the DPRK, Chung said.

Under a 1994 agreement with the United States, the DPRK was promised two light-water reactors in return for freezing its nuclear facilities. The Korean Peninsula Energy Development Organization (KEDO), a US-led consortium, had worked toward implementing the 4.6 billion-US-dollar project before suspending it in 2003 amid a tension over the nuclear issue on the Korean peninsula.

As a member of the KEDO, South Korea has invested 1.12 billion dollars into the suspended light reactor project.

"In case of the resumption of the light reactor project, it needs South Korea to spend an additional 2.4 billion dollars. The cost for our direct power supply plan will be less than that," Chung explained.

However, the South Korean proposal also raised concern that it will lead to shortage of power in South Korea. The envisioned supply is to reduce the peak-season power reserve rate of South Korea from the current 12 percent, or 6.67 million kilowatts, to around 8 percent.

Chung dismissed such concerns, insisting that the dedication ofadditional atomic power plants in South Korea in the coming years would help the nation maintain its current power reserve rate beyond 2008.

"As soon as the upcoming six-party talks in Beijing produce an agreement on the North (DPRK)'s dismantlement of its nuclear programs, South Korea will start construction of cross-border power line linking Gyeonggi Province's Yangju and the North Korean(DPRK) capital Pyongyang," Chung further explained.

Chung stressed that the timing for beginning of the power supply will be strictly linked to the DPRK's implementation of thenuclear dismantlement.

He estimated that the 200-kilometer-long power supply line between Yangju and Pyongyang would cost about 500 billion won (485million dollars), with an additional 1 trillion won (961.5 milliondollars) to be needed for the construction of power transformer facilities.

The South Korean minister also said there should be progress inthe fourth round of six-party talks.

In a meeting of the National Security Council (NSC) held earlier Tuesday which was presided over by South Korean President Roh Moo-hyun, participants agreed to disclose the content of the "important proposal," as the DPRK had already agreed to rejoin the six-party nuclear talks in the last week of July.

The recent nuclear issue on the Korean peninsula erupted in October 2002. In order to peacefully solve the nuclear issue, China, the DPRK, the United States, Russia, South Korea and Japan have convened three rounds of six-party nuclear talks in Beijing.

However, the fourth round of the multilateral talks failed to be convened as the DPRK refused to attend the talks, citing US hostile policy.

The DPRK announced it would suspend participation in the six-party nuclear talks indefinitely in February.

A recent remark made by the DPRK's top leader Kim Jong Il that "the DPRK is willing to rejoin the six-party talks even in July, if the US respects and recognizes it" brightened the outlook of the multilateral talks.

As it stands, Aminex could do deals with China, India, Pakistan, Russia etc, but if the DPRK nuke their nukes, USA, UK, Europe etc will all be interested in exploring in DPRK for oil and gas, especially those US oil companies where Bush and family are directors .... but they all have to go through Aminex to get anything, and Aminex get a cut of all production, so if DPRK sort it out, Aminex will be in prime position to benefit, and will be tipped as a buy everywhere ....


=====================================================
U.S., N. Korea hold longest session yet


Published: Friday, Jul. 29, 2005

BEIJING (AP) The top U.S. envoy held his longest meeting yet Thursday with his North Korean counterpart and said he hoped they would soon be able to draft a joint document that would signal some progress in talks aimed at curbing the Norths nuclear ambitions.

Such a document of agreed principles would indicate a new level of dialogue between the two countries and came amid renewed promises for progress in the negotiations, which on Friday will become the longest round of nuclear talks between the U.S. and North Korea in more than a decade.

U.S. Assistant Secretary of State Christopher Hill and others have stressed that they do not expect any breakthroughs. We have a long way to go still, he said. Theres certainly some points of agreement, but there continues to be points of disagreement.

Thursdays bilateral meeting held as part of six-nation talks was a maybe the first time both sides talked so deeply, so concretely and for such a long time, said Deputy Foreign Minister Alexander Alexeyev, the chief Russian delegate.

=======================================

North Korea, US seek to bridge gap on nuclear crisis
(Reuters)

29 July 2005



BEIJING - Six-party talks aimed at ending the crisis over North Koreas nuclear weapons ambitions are to stretch into the weekend, China announced on Friday, as Washington and Pyongyang struggled to bridge their differences.


The negotiations, which resumed on Tuesday after a 13-month hiatus, have seen the parties retreat to familiar territory, with North Korea demanding aid and security guarantees before scrapping its nuclear programmes and the United States insisting it scuttle those programmes first.

There is agreement among the six parties to have another top delegates meeting tomorrow and to seriously discuss how to take this forward, South Korean deputy chief delegate Cho Tae-yong. told reporters in Beijing.

It is too early to be packing or drawing conclusions.

It was unclear what if any progress had been achieved so far, but this round has already lasted longer than the previous three and has seen unprecedentedly frequent one-on-one contacts between Washington and Pyongyang, the two main protagonists.

The talks, which this time are open-ended, also involve South Korea, Russia, Japan and the host nation, China. The six met for a plenary session in the afternoon that lasted just half an hour.

Chinas Xinhua news agency said the Americans and North Koreans held two bilaterals on Friday and would hold another on Saturday, which would be their sixth this week.

The discussions we had yesterday involved our ideas on how to get to the denuclearisation of the Korean peninsula and their ideas, US chief negotiator Christopher Hill told reporters before the start of Friday discussions.

Im not saying they were identical ... but we heard some of their ideas which very much correspond to some of the ideas that we have, he said as he left his hotel.

Long haul

Hill has expressed a desire to put together a joint document setting out agreed principles that would form the basis for negotiating an eventual agreement. Joint statements have failed to materialise at three previous rounds.

A Japanese delegate said the six parties would start drafting such a document on Saturday, to be spearheaded by China.

The delegate said talks were likely to go on past Saturday, echoing Hills remarks that he was prepared for a long haul.

Well keep at it as long as its useful to keep at it.

But White House spokesman Scott McClellan said the United States would not negotiate a bilateral deal with North Korea. That approach was tried and it failed, McClellan said, a reference to the Clinton administrations efforts to resolve the nuclear crisis in the 1990s.

All sides are committed in principle to a nuclear-free peninsula. The crux of the disagreement is over timing, whether Pyongyang should receive security guarantees and aid before it moves to scrap its weapons programmes, as it insists, or if it should move first, as Washington wants.

Its not a matter of who goes first; its a matter of a strategic commitment that the goal of a nuclear-free Korean Peninsula is embraced by all, US Secretary of State Condoleezza Rice said.

The question is do the North Koreans embrace that goal as well?, Rice told PBS television.

Big offshore oil in Bohai Bay ....


Another large offshore oil field at Bohai Bay starts production
06-09-04 Following Bohai Penglai 19-3 Oil Field, China's largest offshore oil field, Caofeidian 11-1/11-2 Oil Field, another large offshore oil field with a reserve of hundreds of million tons of oil, was put into production on September 2.
The two oil fields are jointly exploited by investors from China and the US. Caofeidian Oil Field is co-developed by Kerr-McGee, one of the world's largest oil and gas developer in the US and China National Offshore Oil Corporation, one of China's largest oil company.

With four years development, this oil field with an annual capacity of 2 mm tons of oil was set up on western shore of Bohai Bay. After the trial production on July 18, 11-1-A5H oil well of Caofeidian can produce hundreds of million bpd of oil currently, which breaks record.
By far, the most significant achievement in oil development at Bohai Bay is still Penglai 19-3 Oil Field. This oil field has a 600 mm-ton oil reserve. It is China's largest offshore oilfield been exploited. Currently the first phase project was put into production in 2002. It has 22 oil wells, and the annual capacity reaches 1.5 mm tons of oil.

Big money too ....

Phillips China Inc. to Invest US$ 2 Billion for Penglai Offshore Oilfield
Phillips China Inc. will invest 2 billion U.S. dollars for the development of Penglai oilfield in the Bohai Bay with its Chinese partner, China National Offshore Oil Corporation Limited (CNOOC).


Phillips China Inc. will invest 2 billion U.S. dollars for the development of Penglai oilfield in the Bohai Bay with its Chinese partner, China National Offshore Oil Corporation Limited (CNOOC).

Phillips is among the earliest foreign oil companies to develop China's offshore oil. In 1999, Phillips discovered China's largest-ever offshore oilfield, Penglai 19-3 located in the Bohai Bay.

The oilfield will be developed in two phases, with phase one scheduled to produce crude in 2002.

How big ?

Construction of China's Largest Offshore Oilfield Launched

Construction of the first phase of Penglai 19-3 Oilfield, the largest offshore oilfield in China, has commenced in the southern Bohai Sea.

The oilfield, with reserves of 600 million tons, is believed to be the second-largest complete oilfield after the famous Daqing Oilfield, which was discovered in 1959 in northeast China.

The Penglai 19-3 Oilfield covers an area of 50 square kilometers, and lies at a depth of between 900 and 1,400 meters near Longkou coastline in Shandong Province. It has an oil layer of 150 meters deep on average.

It was jointly prospected by the China National Offshore Oil Corporation and the Phillips Oil Corporation of the United States in 1999.

The two sides signed a contract on construction of the project on March 15 this year. The Chinese side takes 51 percent of the stake, with the remainder held by the United States.

By the end of 2002, 24 oil wells are expected to start production, with a combined annual output of 2.5 million tons. The field's annual output is expected to reach 8.5 million tons by 2005. By then, the output of the Bohai Oilfield as a while will top 20 million tons, making it China's largest offshore crude producer.

China's oil reserves total 94 billion tons, with most located on land. The country began to seek overseas cooperation for offshore oil development in 1979, as the output of many onshore oilfields had begun to decline.

LNGL, one of Aminex's partners

http://www.lnglimited.com.au/

Huge oil profits go for exploration

By Elliot Blair Smith, USA TODAY
With oil trading near $60 a barrel, U.S. energy companies are reporting huge profits this week and heralding global searches for new supplies after years of investing in stock buybacks rather than oil stocks.
But renewed exploration is tied to remote and risky areas of the world amid greater competition for those potential resources, energy analysts say. The upshot: High prices are probably here to stay for a while.

Energy traders on the New York Mercantile Exchange have bid oil futures above $61 a barrel through most of next year. Futures quotes do not dip below Wednesday's $59.11 a barrel for September delivery until June 2008, by which time new supplies in Africa and the Gulf of Mexico are expected to be available.

Simmons & Co. energy consultant William Herbert says, "We're in a new era for oil prices because this industry has suffered from a significant lack of reinvestment for the last 20 to 30 years." His firm predicts global demand will top 86 million barrels a day by the end of this year, exceeding supply by 2 million to 4 million barrels, a trend it likens in research materials to a "runaway train ... barreling toward a brick wall."

For now, energy companies are enjoying windfall profits. ExxonMobil today reported second-quarter earnings of more than $7.5 billion, a 32% gain. Wednesday, ConocoPhillips reported a 51% spike in second-quarter profit to $3.1 billion; Kerr-McGee's earnings more than tripled to $371 million; Amerada Hess' profits rose 3.8% to $299 million. (Related: ExxonMobil profit up on oil prices)

However, the companies revealed that the search for oil is taking them deeper into uncertain territory:

ConocoPhillips earned about $148 million in the quarter from its 12.6% stake in Russia's Lukoil at a time when some companies are backing away from Russia due to a legal framework there some perceive as anti-business, says IHS Energy Vice President Peter Stark.

Kerr-McGee attributed its higher quarterly sales volumes to new production in China's Bohai Bay and the deepwater Red Hawk field in the Gulf of Mexico.

Amerada Hess is buying energy licenses in Russia's Volga-Urals region with exploration also underway in Gabon, Peru, and near Malaysia and Thailand.

In addition, tiny Murphy Oil said Wednesday that its quarterly exploration expenses rose 72% to $40 million due to energy searches in the Congo and Malaysia. Start-up Kosmos Energy, backed by $300 million in Wall Street capital, is partnering with Pioneer Natural Resources to explore oil and gas ventures from Morocco to Angola. And earlier this week, energy giant BP said it will launch 35 major projects in the next five years, expecting oil to remain above $40 a barrel.

Analyst Herbert says most of these ventures share the risky profile of being undertaken in "harsher environments" and "relatively inhospitable countries" compared with mature existing oil reserves.

"There's just not that many corners of the world left to go drill holes in anymore," affirms PFC Energy analyst Seth Kleinman, who says the exploration activity underway will be accompanied by a consolidation wave in a struggle of the fittest. "One sure way of adding to your reserves," he says, "is to buy them. And companies are sitting on top of a lot of cash right now."

More on Bohai Bay ....

China
Bohai Bay
China's Bohai Bay is Kerr-McGee's newest core area, with eight discoveries to date and continued exploration activities. We operate four adjoining blocks in China's Bohai Bay, totaling 1.7 million gross acres.

China represented 3% of our 2004 reserves and 3% of our 2004 production. Production from two fields in block 04/36 began in July 2004, and at year-end 2004, peak production ranged from 40,000 to 45,000 barrels per day. Kerr-McGee is operator with 40% interest.

The hub-and-spoke development in 75 feet of water includes a floating production, storage and offloading (FPSO) facility and two fixed platforms for dry wellheads some 50 miles from shore.

The FPSO, with a capacity of up to 80,000 barrels of oil per day, and related infrastructure allows for the timely, cost-efficient development of future discoveries. The double-hulled vessel stores oil in 10 main tanks and has storage capacity of 1 million barrels for offloading to shuttle tankers.

Read a feature story about production in China's Bohai Bay in Endeavors Magazine.
http://www.kerr-mcgee.com/SiteObjects/files/endvr_story_2004_3q_bohai_bay_pdf.pdf

South China Sea
In early 2005, Kerr-McGee and China National Offshore Oil Corporation (CNOOC) signed a production sharing contract for block 43/11, covering 2.4 million undeveloped acres in the South China Sea, in water depths from 5,000 to more than 10,000 feet. This contract more than doubles Kerr-McGees China acreage and will allow the company to leverage its deepwater expertise and build on its long-standing relationship with CNOOC to explore for additional energy resources in China.

http://www.kerr-mcgee.com/businesses/oilgas/ogassets/bus_og_ bohaibay.htm

Also ....

http://www.kerr-mcgee.com/SiteObjects/files/kmg_location_chi na.pdf

I have been reading the Aminex thread with great interest. I have held shares in this Company for 18 years or so (from the days it used to be called Eglinton Oil & Gas). No matter what has happened to the oil price over the last two decades this company has always managed to not make any money.
Two things have continuously improved over the years - the directors renumeration and the quality and size of the annual reports (all gloss and very little substance).
In the meantime the share price has gone down from 660p in 1987 to the current 9p !!!!
As Gordon Gekko might say not only is this share a dog but a dog with fleas.
Be careful with this one - there are numerous better oil exploration companies you can spend your money on.

sm,

I guess you spend too much time looking at the past, not at the future, like the prospects in DPRK and Tanzania, the broker certainly does not share your negative opinion, neither does oilbarrel.com and resourceinvestor.com, and Lemming Investor are looking at Aminex right now, and they won't be negative either.

If you were in back then you would have got a nice cut of the money they dished out when they sold the Russian areas ???? does that now make all your stock 'free' ????

Of the 'numerous better oil exploration companies', how many have a deal that gives them revenue on every single drop of oil or gas from AN ENTIRE COUNTRY ???? a country with an estimated 73 BILLION BARRELS OF OIL BENEATH IT ???? then add gas ! .... How many have around 10m in the bank to explore such a country with ???? How many have already been pumped and dumped many times, leaving no P.I willing to risk putting money into them (PET, OILQ, ROS, etc) Aminex has never had that, but no doubt it will when the rampers hear Aminex are drilling in DPRK next year, and Tanzania, and possibly Egypt too, so I suggest buying at 8p and holding until they hit paydirt in DPRK, maybe trading on the inevitable pump n dumps, rather than buying at the much higher prices they will create.


Read the brokers note, just register for free access here ....

http://www.edisoninvestmentresearch.co.uk/members/register.html

An extract below ....

Valuation
We have calculated the company's net asset value, on a fully diluted basis, is 8.2p excluding the cash settlement from Petrom, and 10.6p including the Petrom cash settlement. This means the current share price includes little value for Tanzania, North Korea, and the other areas Aminex is pursuing" (that was from before the placing and open offer raised 5m)

Outlook
Aminex is pursuing a number of exciting prospects in various parts of the world, any one of which is a potential company maker, the share price is underpinned by the 8.2p NAV, most of which is attributable to it's hydrocarbon reserves in the US. This ignores the managements track record for creating value from remote and risky projects, and the recent cash settlement with Petrom.

DPRK Petroleum Resources
The country does not currently have proven hydrocarbon resources. Nevertheless, there are thought to be seven potential oil and gas basins in the country: Pyongyang Basin, West Sea Bay Basin, East Sea Basin, Onchon Basin, Kyongson Basin, Anju Basin, and Kilju Basin. The West Sea Bay Basin could be an extension of China's Bohai Bay. The West Sea Bay and Anju Basins are currently considered the most prospective areas, with the former basin estimated to contain 5 to 40 BILLION BARRELS OF OIL IN PLACE, in the West Sea Bay Basin, eleven exploration wells were drilled in the 80's, two of which flowed light crude oil under limited test.

Cheers,
PM

I appreciate all the research that you have put in to this. Without my prior knowledge of the Board of this company I would have suggested that everyone should pile in. However this board has managed to make an awful lot of money and assets disappear in value. The money 'dished out' from the russian projects was negligible. Every year since 1988 I have read of potential blockbusting deals in this or that part of the world. However nothing ever seems to come of it that affects the share price in a positive way.
Of course I still have my shares and, heaven forbid, should this be the time that something spectacular happens, then I will stand to benefit. However past experience suggests caution.
I also note that the share price has done nothing at all recently despite the oil price being so high. Just about every other oil exploration stock is doing OK so why not any action at all with the Aminex share price !!

SM,

Aminex only produce a small amount of hydrocarbon, other companies that produce a lot more hydrocarbon would obviously go up a lot more, with the rising oil price. Also companies that are actively drilling, like NOP will be from this/next weekend, will also go up on blue sky potential, but Aminex won't be drilling again until next year probably, so the blue sky potential effect is not happening to Aminex.

As the broker says, Tanzania, DPRK and Egypt are not in the price, and the price is supported by the NAV of the hydrocarbons they are producing in Texas, so therfore the price should at least not go any lower, and the best place to buy a stock is when it has no further to fall, also an MCap similar to PET is a joke for a company already producing hydrocarbons, and that must be seen as value to prospective shareholders, especially with the changes in Texas going on at the moment, that will replace the lost revenue from Vinton Dome, and we have the cash from Vinton Dome to boot.

One oil strike in Tanzania or DPRK next year, and where do you think the MCap will be then ? certainly nowhere close to 7m that's for sure.

I have belief mainly in the West Sea Bay Basin, it has already been shown to have oil, but the new technologies that Aminex have at their disposal, will undoubtedly provide better targetting of that oil, and if there is a continuation of Bohai Bay into West Sea Bay Basin, that would be a huge find for a 7m company.

Before we get that far, I expect the DPRK nuclear issue to go away, talks are going very well, and China has just(today !) presented a draft agreement, which USA and Russia are pleased with, and are backing. Once that is sorted, big oil companies won't be sitting around, they will be applying for acreage in DPRK, and some will become Aminex's partners in the areas Aminex has already cherry picked, ie the BEST areas, and where do you think the MCap will be then ? again, nowhere near 7m.

Aminex is still very unheard of by invesors, but that will change, once they get moving in DPRK. Don't forget, they are still looking at the 20 years worth of data provided by the DPRK, but they will be aquiring acreage, under their own designed profit sharing agreement with DPRK, very soon, and they could also be doing their own seismic before XMas, so what do you think will happen to the MCap then ? again, nowhere near 7m.

Cheers,
PM

PM
Thanks for the info.
I sincerely hope you are correct.
Indeed, assuming St Gobain get their act together and make a proper offer for BPB (thus allowing me to sell my shares and reinvest elsewhere) I will have a nibble at some more Aminex to average down from 660p.
That's a promise.
Regards
Mono

Russian envoy expects nuclear talks to finish this week
MOSCOW, Aug. 1 (Yonhap) -- The ongoing six-party talks on the North Korean nuclear issue are likely to finish at the end of this week, Russia's chief delegate to the meetings said on Monday.

In an interview with Russia's official Itar-Tass news agency, Alexander Alexeyev expected the Beijing talks to last a few more days.

http://english.yna.co.kr/Engnews/20050801/410100000020050801200210E1.html

http://english.ohmynews.com/articleview/article_view.asp?article_class=2&no=240634&rel_no=1

China proposes new draft of joint statement for Korean nuclear talks

Monday, August 1, 2005 Updated at 6:26 AM EDT

Associated Press

Beijing The U.S. envoy to nuclear talks with North Korea said Monday that China has proposed a new draft of a joint statement after weekend discussions were snarled by the North's demands for what it should receive in exchange for disarming.

The new draft, submitted late Sunday, reflected all sides' modifications to the first Chinese-written draft, said U.S. Assistant Secretary of State Christopher Hill. He wouldn't give any details, but said, I think the process is going forward rather well.

Full article here ....
http://www.theglobeandmail.com/servlet/story/RTGAM.20050801.wkorea0801/BNStory/International/

Aug 1 2005 12:36PM
Russia offers electricity, gas if N. Korea ends nuke program

BEIJING. Aug 1 (Interfax) - Russia could offer electricity supplies and natural gas deliveries and the reconstruction of thermal power plants built with Soviet assistance in exchange for North Korea's termination of its military nuclear programs, Valery Yermolov, deputy head of the Russian delegation to the six-nation negotiations on the Korean nuclear problem, said on Monday.

http://www.interfax.ru/e/B/politics/28.html?id_issue=11356739

Marathon North Korean nuclear talks struggle through seventh day
(AFP)

1 August 2005

BEIJING - Six-nation talks on ending North Koreas nuclear weapons drive struggled through a seventh day with limited progress on Monday as differences persisted on key disarmament issues.

Its been a long day without a lot of progress to report, chief US delegate Christopher Hill told reporters at his hotel late Monday.

I dont see any breakthroughs on the immediate horizon, he added.

The United States and North Korea held two more one-on-one meetings and all sides spent three-and-a-half hours studying a revised document submitted by China aimed at establishing a framework on ridding the Korean peninsula of nuclear weapons.

The United States and North Korea, still observing a truce after the Korean war in the early 1950s, have met eight times on the sidelines of the talks in the past week.

We continue to have rather major differences between North Korea on one hand and the other five parties on the other, Hill said without going into specifics.

He said the issue of energy aid to a nuclear arms-free North Korea is one of the several principles to be included in the document.

Full article here ....
http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/theworld/2005/August/theworld_August24.xml&section=theworld&col=

Koizumi urges efforts be maintained to reach accord in nuke talks

Monday, August 1, 2005 at 17:37 JST
TOKYO Japanese Prime Minister Junichiro Koizumi called on Monday for delegates to ongoing six-party talks in Beijing to continue efforts to reach an accord on resolving the North Korean nuclear crisis.

Talks have been rough but delegates from the two Koreas, the United States, Japan, China and Russia should do their utmost to achieve a certain direction "no matter how long it will take," Koizumi told reporters. (Kyodo News)

http://www.khaleejtimes.com/DisplayArticle.asp?xfile=data/theworld/2005/August/theworld_August24.xml&section=theworld&col=

US:S Korea Pwr Offer To North To Be In Joint Statement-NYT

NEW YORK -(Dow Jones)- An existing offer by South Korea to supply North Korea with two million megawatts of electricity annually will be included in a planned joint statement from nations involved in talks with the North, the New York Times reported in its Monday edition, citing the U.S. chief negotiator in those talks.

"The electricity offer, of course, is in the draft agreement," the Times quoted Christopher R. Hill, the U.S. negotiator, as saying Sunday.

http://www.nasdaq.com/aspxcontent/NewsStory