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TLE Forum V opening remarks

chairman, TLE Editorial Board

Mick Lambert

President & CEO of GX Technology

The first 20% of the full text of this article appears below.

Welcome to the 5th TLE Forum. The Editorial Board is pleased to present a panel of distinguished industry experts and executives, representing the petroleum and investment banking industries, as well as geophysical services companies.

I am holding a copy of the latest Forbes magazine, dated October 18. The cover page has the headline "Why $45 oil is good for you." Evidently, some experts believe that high pump prices are driving new technologies to explore new sources of fuels and maximizing extraction methods. High oil prices are giving oil companies incentives to make long and expensive bets. Of course, the price of oil closed at $53.31/barrel last Friday. So, I took the liberty of attaching a $50 bill to the back of the Forbes magazine. And maybe, we should change the headline to "Why $50. oil is good for you (and our industry)".

Scenes of the TLE Forum in Denver on 11 October 2004. Top row, . . . [Full Text of this Article]