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Investor News
PRESS RELEASE ARCHIVES FROM SEND2PRESS® NEWSWIRE
NOTICE: THIS IS ARCHIVAL CONTENT AND LIKELY OUT OF DATE.
Edited for Send2Press by Carly Zander
Crack Down On Oil Reserves Fueling Demand For High-tech Resources
RENO, NV - Jan. 13, 2004 /Send2Press Newswire/ -- AXcess News
(www.theaxcess.net) released a story that oil companies are facing calls
for a crackdown in the way they handle their oil and gas reserve figures
in the wake of Friday's shock announcement from Shell. Microsoft
technology partner, The Project Group (OTC BB: PJTG), could hold the
answer for many of those companies.
The U.S. Securities and Exchange Commission has asked oil companies to
review their assessment of reserves in the US Gulf of Mexico. The request
was unrelated to Royal Dutch/Shell's review, which was triggered by
studies done in the fourth quarter. Last year, British Petroleum PLC
reduced its estimate of reserves in a Russian joint venture because of a
change in SEC rules.
Friday, Royal Dutch/Shell Group, one of the world's largest oil
companies, cut its estimate of proved oil and gas reserves by 20 percent
and failed for a third year to find as much oil as it pumped.
With oil companies worldwide facing tighter controls, The Project Group's
software integration services are facing a significant challenge. But its
elevated Microsoft status is opening new opportunities for The Project
Group's IT services in partnership with one of the few software companies
capable of delivering what the oil and gas industry needs.
Has PJTG ever contracted with large oil companies? What is it about their
services that are setting them apart? To read this and other small cap
business news go to http://www.theaxcess.net
About AXcess News
Dubbed the "Yahoo! of small cap business news" by Gordon Borrell, one of
America's leading media and research gurus, AXcess News is fast becoming
a known commodity for both the serious investor and people in general
looking for informed articles and insightful columns that appeal to a
broad spectrum of readers.
• Previous News from AXcess News
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