Shell announced today that it has found oil off the coast of Brazil. The announcemnrt was amde to the Brazilian Oil Agency. Details are forthcoming.
The discovery was in well S-M-518, in the Santos basin, which the company owns 100%.

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Shocked that companies and mutual funds would invest OPM (Other People's Money) in high-risk investments, the Shocked Investor was originally on a mission to find out if our money ended up in these dubious instruments. This blog now also discusses other financial topics, such as straddles, options, gold, natural gas, agri/food stocks, and the collapse of the US Dollar.
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