ideadude <idead...@gmail.com>

Here is an article that came through the pipe in E*Trade, which may
explain why the stock is down today. IMO, it's some more weakness BS
that you should be able to buy into.

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CARACAS (Dow Jones)--Venezuela's Seniat tax agency plans to bill two
more heavy oil upgrading plants for unpaid taxes in two or three
months, the agency's tax chief said Friday.

Seniat officials have also concluded a tax review for two foreign
mining companies, U.S. Hecla Mining Co. (HL) and Canadian company
Crystallex International Corp. (KRY), which has shown a willingness to
pay its taxes, Jose Vielma Mora, head of the Seniat tax agency, told
reporters during a press briefing.

"In two or three months we will hand out tax bills for Ameriven and
Cerro Negro," Vielma said, referring to the heavy oil upgraders
located along the Orinoco river belt.

Venezuela already billed the Sincor oil project last year $877,115 for
unpaid taxes from 2002 and 2003. The Seniat also billed Petrozuata,
another Orinoco venture, $98 million last month for years of pending
taxes.

Vielma said Petrozuata is "beginning the process to pay what it
owes."

The four heavy crude Orinoco ventures are jointly controlled by
Venezuela's government and France's Total (TOT), Norway's Statoil
(STO), Exxon Mobil (XOM), BP PLC (BP), Conoco Phillips (COP) and
Chevron (CVX).

The tax authority also reviewed the tax payments of various mining
companies last year. Hecla already paid $3.2 million in income taxes
owed from 2005, Vielma said, while Crystallex "has shown a willingness
to pay and is paying" taxes owed for the years 2004 and 2005.

-By Raul Gallegos; Dow Jones Newswires; +58-212-564-1339;
raul.galle...@dowjones.com

(END) Dow Jones Newswires

January 26, 2007 11:08 ET (16:08 GMT)
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