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North Dakota swimming in oil -- report draws worldwide interest

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BISMARCK, N.D. - A report that as much as 4.3 billion barrels of oil could be recovered from the Bakken shale formation in North Dakota and eastern Montana is drawing worldwide interest, a state official says.

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"We have had contacts from Scotland and Australia today," state Mineral Resources Director Lynn Helms said Friday.

The oil industry is interested, and so are banks, Helms said. "I think they are looking for a place to invest venture capital," he said.

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