Isaac and bina victor just bought a 4, 500-square-foot colonial in East Hanover, N.

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Seventy-five miles from Bina Bawi runs Iraq's biggest export route, the Kirkuk-to-Ceyhan pipeline.

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But Petoil needed a partner to shoulder some of the risk and put up the cash to drill Bina Bawi.

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Rajasthan Tourism Minister Bina Kak, who inaugurated the elephant village on Saturday, said it was a great gift to the animal.

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CNN's James MacDonald and journalist Bina Brown contributed to this report.

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After several months of negotiations Prime in 2004 decided to contribute several million dollars for 50% of Petoil's stake in Bina Bawi and several Iraqi oil prospects.

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Adjacent to the ridge formation that marks Bina Bawi is a field called Taq Taq, where a Swiss-Canadian outfit, Addax Petroleum, says it found 2 billion barrels in September.

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If successful, Bina Bawi will be Prime's biggest investment.

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The idea was to reach a target depth of 9, 500 feet in a Bina Bawi field around New Year's and uncork what seismic studies indicate could be 500 million barrels of oil.

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"A capital-intensive infrastructure project aimed at cars when the focus should be on more sustainable modes of transportation, is not doing a favor to Mumbai, " said Bina Balakrishnan, a transportation and engineering consultant.

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