Released on: September 17, 2008, 4:21 am

Press Release Author: Lisa Hardcastle

Industry: Financial

Press Release Summary: “Private Equity Placement”: Demand for oil explorers’
expertise set to boost share prices .

Press Release Body: Private Equity Placement have reportedly raised the ratings for
a number of oil service and oil exploration companies to “overweight” from
“neutral”.

The wealth management firm is understood to have issued the upgrades in a research
note to clients. Private Equity Placement cite the end of the “cheap oil era” and
burgeoning demand from emerging economies as key drivers behind the demand for these
companies’ expertise.

An individual familiar with research at Private Equity Placement said, “Big
multi-nationals like Exxon and Shell didn’t invest in exploration during the days of
cheaper oil. As this type of investment can take years to yield tangible results,
they are enlisting the expertise of smaller, specialist companies who can provide
platform infrastructure and temporary, easily- deployable piping etc and that
presents the investor with an opportunity to play on the demand for commodities
without becoming embroiled in the volatility that direct investment can bring.”


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