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REMARKS BY DR. NANSEN G. SALERI DURING 2008 OIL & MONEY CONFERENCE PEAK OIL PANEL IN LONDON

2008 OIL & MONEY CONFERENCE

NGS

October 30, 2008 - Quantum Reservoir Impact today distributed the key remarks of its CEO and President, Dr. Nansen G. Saleri at the Peak Oil panel discussion held this week at the 2008 Oil & Money Conference in London.

“The recent collapse in oil prices reflects an overdue correction and should not be exclusively attributed to the financial tremors in the world markets,” said Dr. Nansen G. Saleri, CEO and President of Houston-based Quantum Reservoir Impact. “The body of leading indicators regarding energy in general and oil in particular are clearly pointing up, dissipating concerns that world economic growth will be choked by an energy bottleneck.

“The notion of the world running out of oil or that global liquids production will go into an irreversible decline within the next few decades is simply not supportable by scientific analysis,” he added.

Dr. Saleri is the former head of reservoir management at Saudi Aramco.

http://www.energyintel.com/om/