from a friend.....

Oil production has made important contributions to Belize’s fiscal account and to growth in its gross domestic product (GDP). Although production was relatively low in 2006 and 2007, it has grown and generated important fiscal revenue. Its contribution in the future could be significant and will make the renegotiation of the "Superbond" seem as a strategic default.

I hope that some people on the superbond renegotiation team have M&A and/or Public finance experience.

Some issues that investors will bring up is that when Belize got the "Superbond" the fiscal condition was as is describe in this chart, but now we have the following added indicators.

That chart was data given when we first got the super bond, now these are the new projections from the oil sector

Indicator for Belize Oil Sector (not including any new oil discovery)

Oil as percentage of GDP =47.75
Oil as percentage of exports = 69.75
Oil revenue as percentage of GDP =24.09
Oil as percentage of fiscal revenue =46.88
Oil production per capital =54.554
Oil production per thousand dollars of GDP=9.745