摘要 本文主要檢視中國大陸連續虧損公司面臨下市緩衝機制壓力時之盈餘管理行為。本文所謂的下市緩衝機制係指特別處理(簡稱ST)與特別轉讓(簡稱PT)的管制。具體而言，ST管制要求連續兩年虧損的公司，必須冠上ST標記，漲跌幅限制為5%(一般股票為10%)，中報需審計；PT管制要求連續三年虧損的公司，必須冠上PT標記，同樣有停板限制，僅允許週五交易。ST與PT管制設計原意係希望提高整體市場新陳代謝與營造理性投資的環境，但盈餘基礎的本質與保守的配套措施反而衍生盈餘管理與投機炒股。此下市緩衝機制實質之經濟後果為管制機關與投資大眾高度關注，但過去相關研究相當有限，本文希望藉由下列研究問題的探索以補充文獻缺口。 第一，中國大陸上市公司面臨下市緩衝機制漸進懲處時，管理當局如何進行盈餘管理以因應連續虧損門檻？第二，各群虧損公司次年扭虧次數與盈餘管理行為差異為何？第三，零損失的法規門檻如何引發盈餘分配的特殊型態；操控前盈餘與盈餘管理關係為何？ 依據1998年至2000年267家虧損公司樣本，實證結果簡要彙總如下：第一，虧損公司裁決性應計數字(營業外所得)顯著降低盈餘，特別在虧損第一個年度，此結果顯示管理當局意圖儲存盈餘以因應未來更嚴格制裁之緩衝。第二，ST股與PT股盈餘劇烈震盪，其盈餘型態分別呈現V字型與W字型。第三，1998與1999年連續三年虧損的公司次年扭虧百分比小於其他虧損公司；但2000年結果相反。主要理由乃中國證監會於2001年2月22日要求PT股在未來一年扭虧(過去為三年)，否則必須下市。第四，虧損公司次年盈餘分配集中於略高於零損失門檻的區間，隱含實質小虧的公司預支未來盈餘，實質大盈的公司儲存本期盈餘的可能性。第五，虧損公司次年扭虧時，操控前盈餘與盈餘管理呈現負向關係，且操控前盈餘越小的組別其盈餘管理越大。但持續虧損公司操控前盈餘與盈餘管理的關係並沒有系統性的結論。 本文實證結果顯示，中國大陸下市緩衝機制由於仰賴會計基礎管制，衍生相當普遍的盈餘管理行為。建議中國證監會應在下市決策中考量非盈餘資訊，投資大眾亦應關注盈餘以外的訊息以避免功能固著的迷失。 / Abstract This study investigates earnings management of Chinese listed companies subject to delisting buffer mechanism for reporting losses for consecutive years. The delisting buffer mechanism in China means Special Treatment (ST) and Particular Transfer (PT) regulations. Specifically, it requires that companies with two and three consecutive losses be labeled as ST shares and PT shares respectively. ST shares are subject to 5% price limits (one half of common shares) and their interim reports should be audited. PT shares are also subject to price limits and they are allowed be traded only on Friday. Although these regulations originally aim to maintain market’s metabolism and foster rational investment environment, their earnings-based nature and conservative schemes are likely to induce pervasive earnings management and speculation. Their economic consequences are a source of concern by regulators and investors, but previous study is relatively limited. Thus, this paper explores the following research questions to fill this void. First, how do Chinese listed firms manage earnings in response to consecutive loss thresholds, while facing the progressive sanctions of the delisting buffer mechanism? Second, what differences in positive earnings frequencies and earnings management exist among different group of loss firms in the following year? Third, how does the zero-loss regulatory threshold induce specific types of earnings distribution, and what relationship can be found between pre-managed earnings and earnings management? Based on a sample of 267 loss firms from 1998 to 2000, the empirical results are briefly summarized as follows. First, discretionary accruals (nonoperating income) of loss firms show significant earnings decreases, especially in the initial loss year, which is consistent with managerial incentives to save earnings for future more severe regulations’ cushion. Second, ST shares and PT shares experience large earnings volatility, and the patterns of ST shares and PT shares’ earnings generally look like V and W respectively. Third, percentage of positive earnings of firms with 3-year losses in the following year is less than that of other loss firms in 1998 and 1999, but more than in 2000. The underlying reason is the Chinese Securities Regulatory Committee requires PT shares have positive earnings within the next year rather than next three years after Feb 22, 2001, otherwise they are delisted. Fourth, earnings distribution of loss firms heavily clusters slightly above zero-loss threshold in the following year, which implies firms with small latent losses likely to borrow future earnings and firms with large latent earnings likely to save current earnings. Fifth, the pre-managed earnings and earnings management for loss firms reporting profits in the following year are negatively correlated. Furthermore, the smaller the pre-managed earnings are, the larger the earnings management is. However, the data reveal no systematic relationship between pre-managed earnings and earnings management for firms with persistent losses. Overall, the empirical results indicate that China’s delisting buffer mechanism, relying mainly on accounting-based regulation, induces pervasive earnings management. The findings therefore suggest that the Chinese Securities Regulatory Committee should consider non-earnings information into delisting decisions and investors look beyond bottom-line to avoid functional fixation.

Les « dispositions successorales spéciales » de la lex situs apportent une exception particulière au système unitaire de la loi applicable à la succession. Leur reconnaissance dans le récent Règlement du Parlement européen et du Conseil relatif à la compétence, la loi applicable, la reconnaissance et l'exécution des décisions, et l'acceptation et l'exécution des actes authentiques en matière de successions et à la création d'un certificat successoral européen du 4 juillet 2012 témoigne de l’importance et de l’actualité de cette prévision normative. L’exception trouve sa source dans l’article 15 de la Convention du 1er août 1989 sur la loi applicable aux successions à cause de mort, formule qui fut suivi par l’article 3099 al. 2 du Code civil du Québec. La conception originaire de la règle se situe à l’article 28 de la Loi d’introduction au Code civil allemand de 1896. Ces législations reconnaissent la nécessité de respecter certaines dérogations aux règles successorales ordinaires dont le contenu matériel justifie une rupture exceptionnelle de l’unité de la succession internationale. Ainsi, l’opposition traditionnelle entre le système scissionniste qui divise la loi applicable à la succession en fonction de la nature mobilière ou immobilière des biens et celui qui postule l’unité législative trouve dans le respect des « dispositions spéciales » de la lex rei sitae régissant certains biens de la succession un facteur conciliateur. Il s’agit de respecter un minimum normatif de la loi de l’État où sont situés certains biens de la succession malgré la compétence générale d’une lex successionis étrangère. Ce bloc normatif irréductible se présente comme un pont qui relie les deux solutions extrêmes dans une position intermédiaire où il n’y a plus de scission au sens classique du terme mais où l’unité est néanmoins brisée en raison de certaines considérations substantielles tirées de la destination des biens. / The « special inheritance rules » of the lex situs introduce a particular exception to the unitary system of the law applicable to succession. Its recognition by the recent Regulation (EU) No 650/2012 of the European Parliament and of the Council of 4 July 2012 on jurisdiction, applicable law, recognition and enforcement of decisions and acceptance and enforcement of authentic instruments in matters of succession and on the creation of a European Certificate of Succession demonstrates the importance and the current relevance of this legal provision. We find the immediate precedent of the rule in Article 15 of the Convention of 1 August 1989 on the Law Applicable to Succession to the Estates of Deceased Persons, which also inspired Article 3099 par. 2 of the Civil Code of Quebec. The original conception of the rule comes from Article 28 of the Introductory Act of the German Civil Code of 1896. These legislations acknowledged the necessity of giving effect to some special provisions on succession whose material content legitimates an exceptional breach of the unity in international successions. Therefore, the traditional conflict between the scission and the unitary system of the law applicable to succession finds a conciliatory factor in the observation of the “special provisions” of the lex rei sitae over some particular assets of the estate notwithstanding the conflict rule. The intention is to preserve a minimal content of the State’s law where certain assets are located against the threat that a foreign lex successionis brings about. This uncompromising set of rules presents itself as a bridge to close the gap between these two extreme solutions. It does not contemplate the classic meaning of scission based on the movable or immovable nature of the property (territorial scission), but it breaks nonetheless the principle of unity, in favor of certain substantial considerations derived from the economic, family or social function of some specific assets, by means of a special connection to the lex situs.

(in English): Present thesis is foucused on mosaic art as a prticular type of art in architecture, shows the specifical means of expression in mosaic art. It describes the political and sociological conditions of connection of architecture with applied art in Czechoslovakia in 2nd half of 20th century. It follows the history and development of mosaic art in first and in second half of 20th. century and represents the main authors and projects. It points the problematic todays reflection of public art of communistic era in Czechoslovakia. The thesis brings a selected image- catalogue and comprehensive written inventory of traced projects.

Memoria (licenciado en ciencias jurídicas y sociales) / la presente memoria tiene por objeto examinar de manera sistemática las acciones reconocidas actualmente en la Ley 19.496, así como examinar también las acciones consagradas en el derecho comparado, particularmente la legislación norteamericana, española y brasileña, esta última por ser quizás la que tiene la mas completa protección a los consumidores en Latinoamérica.

Made available in DSpace on 2016-04-29T13:31:19Z (GMT). No. of bitstreams: 1 Claudia da Silva Leite.pdf: 816683 bytes, checksum: 7898aff703f0f814bc5a3a57f515948b (MD5) Previous issue date: 2015-09-18 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / The purpose of this research was to analyze the most valued characteristics of university professor in the perception of students from two private institutions. The theme was observed in historical perspective, as from University Reform in 1968, and taking as fundamental reference three periods (1970, 1990 and today) as also three authors Martins (1988, 1993, 2000, 2005 and 2009), Grigoli (1990), and Freitas (2004 a, 2004b and 2012); a question was applied to the students of graduation course in Business Administration and two technology courses (Logistics and Human Resources).The 588 characteristics obtained from 164 undergraduate students and 105 students of technological courses were analyzed as a whole, allowing grouping them into three categories: knowledge, didacticism, and interpersonal relationship; thereafter, two additional analysis were performed: for each collaborator, individually, and a comparison between courses and periods. According to the results, firstly the professor s didacticism stands out and the interpersonal relationship comes secondly, as an exception only for the undergraduate students of the morning period, for whom, in individual analysis, the knowledge is the second option. The comparison of these three moments in the history of higher education in the country illustrates that the business logic increased, to expand the supply of jobs for the middle layers of population in the 1970´s and for the low income classes twenty years later. It also shows that this expansion led to the public education this business logic, which started with the university reform inherited from the 1964 civil-militar government / Nesta pesquisa pretendeu-se analisar as características mais valorizadas no professor universitário na percepção de alunos de duas instituições particulares. Olhado o tema em perspectiva histórica, a partir da Reforma Universitária de 1968, e tendo como referência fundamental três momentos (anos 1970, 1990 e hoje) e três autores Martins (1988, 1993, 2000, 2005 e 2009), Grigoli (1990) e Freitas (2004 a, 2004b e 2012), foi aplicada uma questão a estudantes de curso de graduação em Administração e de dois cursos tecnológicos (Logística e Recursos Humanos). As 588 características, obtidas de 164 alunos de graduação e 105 alunos de cursos tecnológicos, foram analisadas em seu conjunto, permitindo agrupálas em três categorias: conhecimento, didática e relacionamento interpessoal; na sequência, mais duas análises foram realizadas: para cada respondente, individualmente, e uma comparação entre cursos e períodos. Os resultados mostram sempre muito à frente a Didática do Professor e o Relacionamento interpessoal em segundo lugar, exceção apenas para os estudantes de graduação do período da manhã para quem, na análise individual, o Conhecimento é a segunda opção. A comparação dos três momentos da história do ensino superior no país permite ver que a lógica empresarial acentuou-se, ao ampliar a oferta de vagas para as camadas médias da população nos anos 1970, para as camadas populares vinte anos depois. Mostra ainda que esta expansão conseguiu levar para o ensino público esta lógica empresarial iniciada com a reforma universitária herdada do governo civil-militar de 1964

Submitted by Edisangela Bastos (edisangela@ufpa.br) on 2015-09-17T17:39:23Z No. of bitstreams: 2 license_rdf: 22974 bytes, checksum: 99c771d9f0b9c46790009b9874d49253 (MD5) Dissertacao_ComportamentoDietaChiropotes.pdf: 958264 bytes, checksum: 99b9063bb54c2872a976ab71a7f2e992 (MD5) / Approved for entry into archive by Ana Rosa Silva (arosa@ufpa.br) on 2015-09-21T14:07:08Z (GMT) No. of bitstreams: 2 license_rdf: 22974 bytes, checksum: 99c771d9f0b9c46790009b9874d49253 (MD5) Dissertacao_ComportamentoDietaChiropotes.pdf: 958264 bytes, checksum: 99b9063bb54c2872a976ab71a7f2e992 (MD5) / Made available in DSpace on 2015-09-21T14:07:08Z (GMT). No. of bitstreams: 2 license_rdf: 22974 bytes, checksum: 99c771d9f0b9c46790009b9874d49253 (MD5) Dissertacao_ComportamentoDietaChiropotes.pdf: 958264 bytes, checksum: 99b9063bb54c2872a976ab71a7f2e992 (MD5) Previous issue date: 2013-06 / Os cuxiús-de-nariz-vermelho são primatas neotropicais pouco conhecidos e encontramse na Lista de Espécies Ameaçadas da IUCN na categoria “Ameaçada de Extinção”. Este estudo foi desenvolvido com um grupo desta espécie de primatas na RPPN Cristalino, MT. Foi estudado o orçamento de atividades, uso de espaço e a ecologia alimentar do grupo, através do método de “Varredura Instantânea”. O grupo foi acompanhado durante 6 meses, incluindo 2 meses na estação chuvosa e 4 meses na estação seca. As categorias comportamentais Deslocamento, Alimentação e Parado foram responsáveis por 81,17% dos registros gerais de atividades. Os animais utilizaram com maior intensidade o estrato intermediário da floresta (entre 16 e 20 metros). A dieta do grupo foi preferencialmente frugívora (82,52%), mas também se alimentaram de invertebrados. Cerca de 18 famílias botânicas foram consumidas. Sendo os taxons Arrabidaea sp. e Brosimum latescens os mais comuns. Nos meses de seca houve um maior acréscimo de outros itens alimentares, como flores e invertebrados na dieta dos cuxiús. O tamanho do grupo variou entre 1 e 19 indivíduos ao longo do estudo, assim como a estrutura sexual que também variou bastante. Foi observado o cuidado parental por parte dos machos, além de interações agonísticas interespecíficas entre Ateles marginatus e Sapajus apella. / The red-nosed cuxiú, Chiropotes albinasus, is a poorly understood neotropical primate that is listed at ‘Threatened with Extinction’ by the IUCN. The current study was conducted on a group of C. albinasus at RPPN Cristalino, MT, Brazil. Activity budget, use of space and feeding ecology were studied using Simultaneous Scan methods. The study group was monitored for six months (two months in the rainy season, four in the dry season). The behavioural categories Moving, Feeing and Paused accounted for 81.17% of the activity records. Most activity was recorded in the middle strata of the forest (between 16 and 20m). Diet was principally frugivorous (82.52%), but invertebrates were also eaten. Representatives from some 18 plant families were consumed. Arrabidaea spp. and Brosimum latescens were the taxa most commonly consumed. During the dry season there was an increase in the consumption of such nonfruit items as invertebrates and flowers. Group size varied between 1 and 19 throughout the study. The sex-ration of groups also varied greatly. Parental care was observed by male C. albinasus, as well as interspeciic agonistic interactions between the cuxius and Ateles marginatus and between Sapajus apella.

In recent years nickel is mostly produced from lateritic ore deposits such as nontronite, limonite, etc. Resource estimation is difficult for laterite deposits as they have a weak and heterogeneous form. 3D modeling software are rather suitable for deposits having tabular or vein type ores. In this study the most appropriate estimation technique for resource estimation of nickel laterite deposits was investigated. One of the known nickel laterite deposits in Turkey is located at T&uuml / rkmen&ccedil / ardagi - G&ouml / rdes region. Since the nickel (Ni) grade recovered from drilling studies seem to be very low, a reconciliation pit having dimensions of 40 m x 40 m x 15 m in x-y-z directions was planned by Meta Nikel Kobalt Mining Company (META), the license owner of the mine, to produce nickel ore. 13 core drilling and 13 reverse circulation drilling (RC) and 26 column samplings adjacent to each drillholes were located in this area. Those three sampling results were compared to each other and as well as the actual production values obtained from reconciliation pit. On the other side 3D computer modeling was also used to model the nickel resource in T&uuml / rkmen&ccedil / ardagi - G&ouml / rdes laterites. The results obtained from both inverse distance weighting and kriging methods were compared to the results of actual production to find out the applicability of 3D modeling to laterite deposits. Modeling results showed that Ni grade of the reconciliation pit in T&uuml / rkmen&ccedil / ardagi - G&ouml / rdes, considering 0.5% Ni cut-off value, by using drillholes data, inverse distance weighting method estimates 622 tonnes with 0.553% Ni and kriging method estimates 749 tonnes with 0.527% Ni. The actual production pit results provided 4,882 tonnes of nickel ore with 0.649% Ni grade. These results show that grade values seem to be acceptable but in terms of tonnage, there are significant differences between theoretical estimated values and production values.

The aim of the thesis is to investigate theological understandings in conjunction with the baptism of children and to develop such of these understandings as can be seen to be “trovärdiga” (credible or trustworthy) in the contemporary context of Church of Sweden. The theoretical point of departure is taken in a hermeneutical theological method of correlation between interpretation of “Situation” and interpretation of “Tradition”. A trustworthy theology emerges in a critical and/or constructive encounter between the interpretation of Tradition and the interpretation of Situation. Such an encounter can be established within an area of problematics. Three problem areas are identified that are present in the Swedish context of baptizing children in Church of Sweden. A) The first problem area concerns the theological interpretation of the relationship between those baptized and those not in a pluralistic society. B) Theological interpretation of “destruction” and what the theological tradition names original sin. How can a trustworthy baptismal theology be developed that takes suffering, oppression, the ecological crisis, seriously in the present situation and at the same time handle or solve the problems related to the theological tradition of original sin? C) How can a trustworthy baptismal theology solve or handle the problems related to a dichotomous construct of the relationship between God and the world? Four types of material are analyzed: sociological and statistical material, ecumenical theological resources for interpreting baptism, two different orders of baptism at use in Church of Sweden and baptismal liturgies celebrated according to these orders of baptism, and primarily Oriental Orthodox traditions of the Baptism of Jesus. Several understandings are developed and among them three over-arching concepts found fruitful for solving or handling the problems concerned: the baptismal tradition connected to the Baptism of Jesus interpreted in the light of A Trinitarian Theology of Creation that understands baptism as an expression of The Mystery of Creation, The Sacrament of Creation . / Kolla att datum 16 oktober blev rätt!Kolla att de tre kursiveringarna på sista avsnittet i abstarct inte flyter samman till en enda (jfr pdf).Gordon Lathrop är professor emeritus från Lutheran Theological Seminary, Philadelphia, och Yale Divinity SchoolKirsten Busch Nielsen är professor i systematisk teologi vid Köpenhamns universitet (opponenten)

Im Abstrom von Uranbergbauobjekten (Sachsen, Deutschland) wurden Uran, Radium-226 und Arsen in unterschiedlichen Feuchtgebieten untersucht. Dabei wurden Wasser (vor¬wiegend neutrale bis leicht basische pH-Werte), Sedimente und im Wasser befindlicher Bestandesabfall (CPOM) beprobt. Zur Klärung der Genese der Urangehalte im Sediment erfolgten Untersuchungen an Pb-Isotopen. Sie zeigen u. a., dass das Uran in den obersten Zentimetern des Sediments (organische Auflage) aus der wässrigen Phase und nicht von ca. 300 Millionen Jahre alten Erzteilchen stammt. Für die Verlagerung von Radionukliden und Arsen aus dem Wasserkörper in das Sediment wird ein neuer Weg aufgezeigt. Eine Fixierung dieser Stoffe an Bestandesabfällen (plant litter) ist möglich. Allochthoner Bestandesabfall (Blätter, Früchte, Zweige von Alnus spec. und Quercus spec.) weist nach Kontakt mit kontaminiertem Wasser (ca. 100 - 300 µgU L-1) Urangehalte von 50 - 2.000 µgU g-1 auf. Im Vergleich zu Uran sind Ra-226 und Arsen labiler am Bestandesabfall gebunden. Für die Genese der Gehalte in den subhydrischen Auflagen sind die Herkunft des (autochthonen bzw. allochthonen) Bestandesabfalls und der Abbau eine entscheidende Rolle. Sedimente aus leicht abbaubaren Bestandesabfällen (z.B. Lemna spec., Algen) weisen im Vergleich mit allochthonen Bestandesabfällen (von Bäumen) deutlich geringere Urangehalte auf. Exemplarisch wurde für einen aus allochthonen Bestandesabfällen bestehenden Sedimentkern mittels Cs-137-Bestimmung eine maximale Uranfestlegung von 1 – 2 g m-² a-1 ermittelt. Neben allochthonem Bestandesabfall führen Eisen- und Manganhydroxide, die unmittelbar an den Sickerwasseraustrittstellen ausfallen, bei relativ geringen Arsen- und Radiumkon¬zentrationen im Wasser zu hohen Arsen- bzw. Radiumgehalten im Sediment (As ≤ 5 mg g-1; Ra-226 ≤ 25 Bq g-1). Unter reduktiven Bedingungen werden Ra-226 und Arsen jedoch leicht freigesetzt. Ausgehend von den Untersuchungsergebnissen wird eine mögliche Anordnung für eine naturnahe passive Sickerwasserbehandlung vorgeschlagen.

Processing of Bolu-Himmetoglu (Type I Kerogen) and Ankara-Beypazari (Type II Kerogen) oil shales by flotation techniques were investigated for achieving clean solid fuel substitutes. Materials characterization was done through mineralogical, XRD and FTIR analyses. Flotation responses of the samples were tested with non-ionizing and ionizing collectors of cationic and anionic types. The effects of the collector dosage and pulp pH on cleaning were determined. Other important flotation parameters, conditioning time, flotation time, pulp density, particle size and frother dosage were encountered using a statistical approach, through a full two level factorial experimental design. An advanced flotation procedure, assisted by ultrasonic application, was developed for further improvement in flotation performance. The effects of cleaning on thermal characterstics and combustion kinetics were evaluated with Differential Scanning Calorimetry and ASTM methods while the changes in the emission profiles were assessed using Effluent Gas Analysis. Himmetoglu sample was characterized as a carbonate and organic rich humic oil shale with XRD and FTIR analyses while Beypazari oil shale involved significant carbonate and clay minerals and exhibited a fulvic character with a poor organics content. Reverse flotation with amine acetates provided the most effective means of cleaning with Himmetoglu oil shale. Ash was decreased from 34.76 % to 23.52 % with a combustible recovery of 83.57 % using 800 g/ton Flotigam CA at natural pH and the calorific value increased from 4312 kcal/kg to 5010 kcal/kg. Direct flotation with amines was most effective for Beypazari oil shale cleaning. Using Armoflote 17, ash was reduced from 69.88 % to 53.10 % with 58.64 % combustible recovery using 800 g/ton Armoflote 17 at natural pulp pH and the calorific value of the sample increased from 876 kcal/kg to 2046 kcal/kg. Following optimization, ash of Himmetoglu oil shale decreased to 16.81 % with 84.10 % combustible recovery and calorific value increased to 5564 kcal/kg. For Beypazari oil shale ash decreased to % 48.42 with 59.17 % combustible recovery and the calorific value increased to 2364 kcal/kg. Ultrasonic pre-treatment before flotation further decreased the ash of Himmetoglu sample to 11.82 % with 82.66 % combustible recovery at 15 minutes pre-conditioning time and 50 % power level. For Beypazari oil shale, ash decreased to 34.76 % with 64.78 % combustible recovery after 15 minutes pre-treatment time at 70 % power level. Comparative XRD spectra and SEM analyses revealed that the extent of mineral matter removal relied on the flotation performance. The thermal indicators considerably improved after cleaning and the extent of improvement increased with a decrease in the ash of the concentrates. Kinetic analysis showed the favorable effect of inorganics removal on the effectiveness and easiness of combustion and activation energies decreased after cleaning for both oil shales. The contributions of cleaning on the effectiveness of combustion were also revealed by the increases in the emission rates and total CO2 and CO emission amounts. CO2 emissions due to mineral matter decomposition and harmful SO2 emissions apparently decreased as a consequence of the cleaning of the undesired inorganic contituents and potentially cleaning components. Results of the cleaning and thermal analysis sudies revealed that it was possible to achieve a clean energy source alternative from oil shales through flotation and a significant potential can be anticipated for future use of oil shales as a cost effective and environmental friendly solid fuel substitute in view of Turkey&amp / #8217 / s great oil shale reserves.