>>> VENEZUELA DEFAULT FEARS

VENEZUELA DEFAULT FEARS

FT running a story today that fall in Oil price has further fomented worries of a possible default of Venezuela. Bond yields rose to more than 16% (!) - the riskiest for any sovereign in the world. CDS rose to over 1870 basis points. Remember Oil accounts for arround 95% of Venezuelan export revenues.

(BFW) *ABBVIE BOARD TO MEET OCT. 20 TO DECIDE ON SHIRE

BFW 10/16 07:09 *ABBVIE BOARD TO MEET OCT. 20 TO DECIDE ON SHIRE
BN 10/16 07:03 *ANNOUNCEMENT OF NOTICE TO SHIRE OF ABBVIE BOARD INTENTION TO
Announcement Of Notice To Shire Of AbbVie Board Intention To Reconsider Recommendation
2014-10-16 07:03:16.977 GMT

PR Newswire/Les Echos/

Announcement Of Notice To Shire Of AbbVie Board Intention To Reconsider
Recommendation

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

NORTH CHICAGO, Ill., Oct. 15, 2014 -- AbbVie Inc. ("AbbVie") announces it has
notified Shire plc ("Shire") of its Board of Directors' intention to reconsider
the recommendation made on July 18, 2014 that AbbVie stockholders adopt the
merger agreement needed to complete the proposed combination of AbbVie and
Shire.

AbbVie's Board will consider, among other things, the impact of the U.S.
Department of Treasury's proposed unilateral changes to the tax regulations
announced on Septem ber 22, 2014, including the impact to the fundamental
financial benefits of the transaction.

Accordingly, AbbVie has notified Shire under the Co-operation Agreement that
AbbVie's Board of Directors intends to meet to consider whether to withdraw or
modify its recommendation. Under the Agreement, AbbVie must provide three
business days' notice of any intention to consider a change in recommendation.
Accordingly, AbbVie's Board plans to meet on October 20, 2014, unless Shire
agrees to waive the notice.

At this time, AbbVie's Board of Directors has not withdrawn or modified its
recommendation to AbbVie stockholders. Under the conditions of AbbVie's offer
and the terms of the Co-operation Agreement, if AbbVie's Board of Directors was
to withdraw or modify its recommendation, the withdrawal or modification alone
would not cause a lapse of AbbVie's offer or terminate the Co-operation
Agreement. Unless Shire and the UK Takeover Panel agree otherwise, AbbVie must
convene an AbbVie stockholder meeting to consider the adoption of the U.S.
merger agreement. AbbVie's offer will lapse if the company's stockholders do
not adopt the agreement.

A further announcement will be made as appropriate.

In accordance with Rule 30.4 of The City Code on Takeovers and Mergers issued
by the Panel on Takeovers and Mergers (the "Code"), a copy of this announcement
can be found on AbbVie's website at
http://www.abbvieinvestor.com/
phoenix.zhtml?c=251551&p=irol-disclaimer-documents

Inquiries:

AbbVie investor contacts
Larry Peepo (Tel: +1 847 935 6722)

AbbVie media contacts
Jennifer Smoter (Tel: +1 847 935 8865)

J.P. Morgan (Financial Adviser)
Jeffrey Hoffman / Henry Gosebruch / Ben Wallace (New York, Tel: +1 212 270 6000)

Laurence Hollingworth / Dwayne Lysaght / James Robinson
(London, Tel: +44 207 742 4000)

Richard Jacques
Brunswick Group, UK
+1 44 7974 982557

About AbbVie

AbbVie is a global, research-based biopharmaceutical company formed in January
2013 following separation from AbbVie Parent. The company's mission is to use
its expertise, dedicated people and approach to innovation to develop and market
advanced therapies that address some of the world's most complex and serious
diseases. AbbVie employs approximately 25,000 people worldwide and markets
medicines in more than 170 countries. AbbVie is traded on the New York Stock
Exchange under "ABBV". Additional information is available on the company's
website at www.AbbVie.com.

J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Limited
(which conducts its UK investment banking business as J.P. Morgan Cazenove and
which is authorised and regulated by the Financial Conduct Authority in the
United Kingdom) (collectively, "J.P. Morgan"), is acting exclusively for AbbVie
and no one else in connection with the Transaction and will not be responsible
to anyone other than AbbVie for providing the protections afforded to clients
of J.P. Morgan or its affiliates nor for providing advice in relation to the
Transaction or any other matters referred to in this announcement.

Offer or Solicitation

This release is provided for informational purposes only and does not constitute
an offer to sell, or an invitation to subscribe for, purchase or exchange, any
securities or the solicitation of any vote or approval in any jurisdiction, nor
shall there be any sale, issuance, exchange or transfer of the securities
referred to in this release in any jurisdiction in contravention of applicable
law.

Additional Information and Where to Find It

In furtherance of the combination, AbbVie Private Limited ("New AbbVie") has
filed with the SEC a registration statement on Form S-4 containing a preliminary
Proxy Statement of AbbVie that also constitutes a preliminary Prospectus of New
AbbVie relating to the New AbbVie shares to be issued to New AbbVie stockholders
in the combination. In addition, AbbVie, New AbbVie and Shire may file
additional documents with the SEC.
INVESTORS AND SECURITY HOLDERS OF ABBVIE AND SHIRE ARE URGED TO READ THE PROXY
STATEMENT/PROSPECTUS, AND OTHER DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH
THE TRANSACTION, CAREFULLY AND IN THEIR ENTIRETY, BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION. Those documents, when filed, as well as AbbVie's and New
AbbVie's other public filings with the SEC may be obtained without charge at the
SEC's website at www.sec.gov, at AbbVie's website at www.AbbVieinvestor.com and
at Shire's website at www.Shire.com. AbbVie plans to mail its stockholders the
definitive proxy statement/prospectus after the registration statement on Form
S-4 is declared effective by the SEC. It is expected that the New AbbVie shares
to be issued to Shire shareholders under a scheme of arrangement will be issued
in reliance upon the exemption from the registration requirements of the
Securities Act of 1933, as amended, provided by Section 3(a)(10) thereof.

Participants in the Solicitation

AbbVie, its directors and certain of its executive officers may be considered
participants in the solicitation of proxies in connection with the transactions
contemplated by the proxy statement/prospectus. Information about the directors
and executive officers of AbbVie is set forth in its Annual Report on Form 10-K
for the year ended December 31, 2013, which was filed with the SEC on February
21, 2014, and its proxy statement for its 2014 annual meeting of stockholders,
which was filed with the SEC on March 24, 2014. Other information regarding
potential participants in the proxy solicitations and a description of their
direct and indirect interests, by security holdings or otherwise, are contained
in the proxy statement/prospectus filed with the SEC.

Forward-Looking Statements

This announcement contains certain forward-looking statements with respect to a
combination involving AbbVie and Shire. The words "believe," "expect,"
"anticipate," "project" and similar expressions, among others, generally
identify forward-looking statements. These forward-looking statements are
subject to risks and uncertainties that may cause actual results to differ
materially from those indicated in the forward-looking statements. Such risks
and uncertainties include, but are not limited to, the possibility that
necessary regulatory approvals or stockholder approvals will not be obtained or
any of the other conditions to the combination will not be satisfied, adverse
effects on the market price of AbbVie shares and on AbbVie's or Shire's
operating results because of a failure to complete the combination, failure to
realise the expected benefits of the possible combination, negative effects
relating to the announcement of the possible combination or any further
announcements relating to the possible combination or the consummation of the
possible combination on the market price of AbbVie shares or Shire shares,
significant transaction costs and/or unknown liabilities, general economic and
business conditions that affect the combined companies following the
consummation of the possible combination, changes in global, political,
economic, business, competitive, market and regulatory forces, future exchange
and interest rates, changes in tax laws, regulations, rates and policies, future
business combinations or disposals and competitive developments. These
forward-looking statements are based on numerous assumptions and assessments
made in light of AbbVie's or, as the case may be, Shire's experience and
perception of historical trends, current conditions, business strategies,
operating environment, future developments and other factors it believes
appropriate. By their nature, forward-looking statements involve known and
unknown risks and uncertainties because they relate to events and depend on
circumstances that will occur in the future. The factors described in the
context of such forward-looking statements in this release could cause AbbVie's
plans with respect to Shire, AbbVie's or Shire's actual results, performance or
achievements, industry results and developments to differ materially from those
expressed in or implied by such forward-looking statements. Although it is
believed that the expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will prove to have
been correct and persons reading this release are therefore cautioned not to
place undue reliance on these forward-looking statements which speak only as at
the date of this release. Additional information about economic, competitive,
governmental, technological and other factors that may affect AbbVie is set
forth in Item 1A, "Risk Factors," in AbbVie's 2013 Annual Report on Form 10-K
and in Item 1A, "Risk Factors" of Part II of AbbVie's second quarter 2014
Quarterly Report on Form 10-Q, which have been filed with the SEC, the contents
of which are not incorporated by reference into, nor do they form part of, this
release. Neither AbbVie nor Shire undertakes any obligation to release publicly
any revisions to forward-looking statements as a result of subsequent events or
developments, except as required by law.

SOURCE AbbVie

The content and accuracy of news releases published on this site and/or
distributed by PR Newswire or its partners are the sole responsibility of the
originating company or organisation. Whilst every effort is made to ensure the
accuracy of our services, such releases are not actively monitored or reviewed
by PR Newswire or its partners and under no circumstances shall PR Newswire or
its partners be liable for any loss or damage resulting from the use of such
information. All information should be checked prior to publication.

-0- Oct/16/2014 07:03 GMT

>>> SOCO-Announces that SOCO EPC, operator of the Marine XI Block offshore the R

Announces that SOCO EPC, operator of the Marine XI Block offshore the Republic of Congo (Brazzaville), has completed drilling the exploration well Lidongo X Marine 101 well 

The well encountered oil in a clastics sequence in the Djeno sand formation with drilling shows and early log interpretation indicating approximately a 50 metre gross interval.

Located 23 kilometres northwest of Pointe Noire in a water depth of approximately 45 metres, the LXM-101 well was drilled to a total depth of 2,665 metres after penetrating the target hydrocarbon zone. Analysis of the logs over the hydrocarbon zone indicates petrophysical parameters in line with those published for the Litchendjili field on the adjacent Marine XII Block operated by ENI. 

Due to the tight nature of the reservoir sands a 20 metre section has been selected for testing. The zone will be tested after a 7" liner is set and cemented. Testing, including utilising a stimulation frac, is expected to take approximately three weeks. After the completion of testing there will be a further release with results. 

SOCO EPC holds a 40.39% interest in the Marine XI Block. Project partners are WNR (23%), SNPC (15%), AOGC (13.11%) and PetroVietnam (8.5%).

Reuters - Lockheed says makes breakthrough on fusion energy project


(Reuters) - Lockheed Martin Corp said on Wednesday it had made a technological breakthrough in developing a power source based on nuclear fusion, and the first reactors, small enough to fit on the back of a truck, could be ready for use in a decade.

Tom McGuire, who heads the project, said he and a small team had been working on fusion energy at Lockheed's secretive Skunk Works for about four years, but were now going public to find potential partners in industry and government for their work.

Initial work demonstrated the feasibility of building a 100-megawatt reactor measuring seven feet by 10 feet, which could fit on the back of a large truck, and is about 10 times smaller than current reactors, McGuire told reporters.

In a statement, the company, the Pentagon's largest supplier, said it would build and test a compact fusion reactor in less than a year, and build a prototype in five years.

In recent years, Lockheed has gotten increasingly involved in a variety of alternate energy projects, including several ocean energy projects, as it looks to offset a decline in U.S. and European military spending.

Lockheed's work on fusion energy could help in developing new power sources amid increasing global conflicts over energy, and as projections show there will be a 40 percent to 50 percent increase in energy use over the next generation, McGuire said.

If it proves feasible, Lockheed's work would mark a key breakthrough in a field that scientists have long eyed as promising, but which has not yet yielded viable power systems. The effort seeks to harness the energy released during nuclear fusion, when atoms combine into more stable forms.

"We can make a big difference on the energy front," McGuire said, noting Lockheed's 60 years of research on nuclear fusion as a potential energy source that is safer and more efficient than current reactors based on nuclear fission.

Lockheed sees the project as part of a comprehensive approach to solving global energy and climate change problems.

Compact nuclear fusion would produce far less waste than coal-powered plants since it would use deuterium-tritium fuel, which can generate nearly 10 million times more energy than the same amount of fossil fuels, the company said.

Ultra-dense deuterium, an isotope of hydrogen, is found in the earth's oceans, and tritium is made from natural lithium deposits.

It said future reactors could use a different fuel and eliminate radioactive waste completely.

McGuire said the company had several patents pending for the work and was looking for partners in academia, industry and among government laboratories to advance the work.

Lockheed said it had shown it could complete a design, build and test it in as little as a year, which should produce an operational reactor in 10 years, McGuire said. A small reactor could power a U.S. Navy warship, and eliminate the need for other fuel sources that pose logistical challenges.

U.S. submarines and aircraft carriers run on nuclear power, but they have large fission reactors on board that have to be replaced on a regular cycle.

"What makes our project really interesting and feasible is that timeline as a potential solution," McGuire said.

Lockheed shares fell 0.6 percent to $175.02 amid a broad market selloff.