All concerns for "scarcity" would be undermined and
future oil and gas supplies at stable or falling costs could be guaranteed.
Pioneer is a large independent oil and gas exploration and
production company with operations in the United States, Argentina,
Canada, Equatorial Guinea, Nigeria, South Africa and Tunisia. These and other risks are described in Pioneer's 10-K and
10-Q Reports and other filings with the Securities and Exchange
Commission.

somewhat abuja

Gas will overtake coal by 2010 and oil by
2040 . The remaining 2000x109 barrels of recoverable
conventional oil resources will sustain over 50% of oil demand until almost
2060.
Pioneer expects to recognize an after-tax gain associated with the
Canadian asset sale of approximately $75 to $80 million based on the
Company's intent to create a repatriation plan that qualifies for the
provisions of the American Jobs Creation Act of 2004.

inhabitants nigeria

researchandmarkets. At most, its contribution to fossil fuel supplies will be 30%. At Chinchaga, the Company
drilled 56 wells during its winter drilling campaign and has an
extensive inventory of locations remaining to drill in future years.
Pioneer's headquarters are in Dallas.

somewhat obasanjo

Sustainability for a more populous 21st century world
depends on this development.
Serious medium- to long -term upward pressures on oil and gas prices are
unlikely. Enormous implications follow from oil and gas
being renewable resources.

somewhat abuja

144, "Accounting for the Impairment or Disposal of Long-Lived Assets ,"
Pioneer will report the results of operations of the Canadian
properties sold, including the gain on disposition, as discontinued
operations in its second quarter results.

reserves obvious

But their relative contributions will change dramatically. As
gas supply grows more than five-fold over the century , it will contribute 57%
of hydrocarbons supply (oil; 43%).

rule inhabitants

once reserves

newscom. Thereafter,
with its falling contribution to global energy supply and an increasingly
dispersed geographical pattern of production , it will become "just another
source of energy" in a competitive market.

stifled bureaucracy

Carbon fuel use since 1970 has been much below expectations at that time. Modest real price increases from post-1986 levels (of 10 to
20% by 2020 and 20 to 30% by 2040) will subsequently be constrained by lower-
cost renewable energy supplies.
Beginning in June, Pioneer plans to drill a minimum of 80 wells to
assess the potential of its extensive Horseshoe Canyon coalbed acreage
position.

dominate rule

Research and Markets: Carbon Fuels to Dominate the 21st Century's Global Energy Economy

com/reports/c18388 ) has announced the addition
of Why Carbon Fuels Will Dominate the 21st Century's Global Energy Economy to
their offering . The
latter's output will peak only in the penultimate decade of the century and by
2100, its resource-base will be little more than half-depleted.

Pioneer Closes Sale of Non-Strategic Canadian Properties

vast populous

These provide
a secure base for supply growth of coal, oil and gas. Collectively their
present 90% share of global energy use will decline only very slowly, viz.pioneernrc.

inhabitants reserves

com/cgi-bin/prnh/20040820 /RESEARCH )
Global energy demand has grown only slowly since the mid-1970s.
Nevertheless, increasing energy use is required to eliminate energy poverty,
not only for the 2 to 3 billion of the world 's present population which suffer
from the condition, but also for the net additional 3 billion inhabitants of
planet Earth by 2050.
Conventional expectations for a high growth rate in coal's use are
unrealistic.

once dominate

Conventional and non-conventional gas reserves and resources will be
adequate to maintain gas as a growth industry until post-2090 - even without a
contribution from gas hydrates and geo-pressured gas.
Pioneer retained its core areas in Canada, the Chinchaga gas and
the Horseshoe Canyon coalbed gas fields. Forward-looking statements and the
business prospects of Pioneer are subject to a number of risks and
uncertainties that may cause Pioneer's actual results in future
periods to differ materially from the forward-looking statements.

Three tribal communities (Hausa, Yoruba and Ibo) dominate Nigeria.

1966 somewhat

tribal once

For more information, visit
Pioneer's website at www.

Nigeria has vast oil reserves, but its obvious economic potential has been somewhat stifled in recent years by corruption and bureaucracy.

ibo obvious

Oil supply will likely be more demand than resources constrained - given
the demand-side preference for gas for technical and commercial, as well as
environmental, reasons.
The historic and contemporary geo-political significance of the oil
industry will, however, be undermined over the coming two decades.
Finally, what if oil and gas are NOT fossil fuels? As argued by the
inorganic origin theorists of the Former Soviet Union - home to the world's
largest hydrocarbons' industry.UN) for
proceeds after closing adjustments of approximately $199 million.

obvious rule

researchandmarkets.com

Except for historical information contained herein, the statements
in this News Release are forward-looking statements that are made
pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995.

The Federal Republic of Nigeria is situated on the Gulf of Guinea in West Africa.

Nigeria was once a British colony; after its independence in 1966 the country was under military rule until the election in 1999 of President Obasanjo and the introduction of civilian rule.

civilian until

Thereafter, non-conventional oil will take the leading role.

until nigeria

Thus hydrocarbons will remain dominant supplying over 50% of global energy use
until post-2070.

Business Editors

DALLAS----Pioneer Natural Resources
Company (NYSE:PXD) today announced that its Canadian subsidiary has
closed the sale of its Martin Creek, Conroy Black and Lookout Butte
oil and gas properties to Ketch Resources Ltd.

stifled 108

In accordance
with the provisions of Statement of Financial Accounting Standards No.

Nigeria is the most populous state in Africa with 108 million inhabitants; its capital is Abuja .

somewhat until

In spite of
oil's relative decline as an energy source the industry will, nevertheless, be
larger in 2100 than it was in 2000.

reserves nigeria

DUBLIN, Ireland, Research and Markets
(http://www.com/reports/c18388

Laura Wood
Senior Manager
Research and Markets
Fax: +353-1-4100 -980
press@researchandmarkets.com

dominate until

This is
predicated to continue, even without actions to limit/reduce CO2 emissions. to
80% by mid-century and still over 55% by 2100 . Higher finding/exploitation costs will be offset by technologically-
derived savings. (TSE:KER.

hausa somewhat

(Logo: http://www.
Consequently, proven reserves have expanded to an all-time high.
These risks and uncertainties include, among other things, volatility
of oil and gas prices, product supply and demand, competition,
government regulation or action, international operations and
associated international political and economic instability,
litigation, the costs and results of drilling and operations,
Pioneer's ability to replace reserves, implement its business plans,
or complete its development projects as scheduled, access to and cost
of capital, uncertainties about estimates of reserves, quality of
technical data, environmental and weather risks, acts of war or
terrorism .

ibo inhabitants

For more information visit http://www.

abuja colony

---

- - kjjkjk

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