One of many articles keying off same report. While I'm as amused by the Eike Reality Distortion field as anyone these articles bemoaning "worst year" etc are getting ridiculous. The guy is investing billions of investor money and other capital in a massive bet on Brazil. If he is right then these capital investments will yield cash flows and profits many times the original investment. So, an optimist, would title article "Batista continues massive, unprecedented investment in the future and Brazil"
One problem is that he has "no proven reserves" according to De Golyer. The reason he has not done the work to achieve certification makes one wonder that it is possible there isn't enough oil to certify. His oil production is a pitiful 10 000 barrels a day. He has had a very long track record of business failures. One of them was a partnership with Azurix, an Enron subsidiary. He is in bed with Brazilian politicians and gets special favors from them. However, things may sour. Right now one of his buddies, a construction magnate called Cavendish was forced to sell his company for peanuts after being caught in a scandal also involving the governor of Rio, another close buddy of Mr. Batista. He talks too much and may become a liability and too hot to handle for the corrupt politicians who are his masters.