Cyprus-Forum.com

[GreekIslandGirl]

No, just wondered if you will pay back the Russians first?

We don't owe them anything:

Nov. 15 (Bloomberg) -- Cyprus’s government has enough funds to finance this year’s obligations without a 2.5 billion-euro ($3.4 billion) loan from Russia, the head of the public debt management office said.

[Viewpoint]

No, just wondered if you will pay back the Russians first?

You are a simple mind VP. The Russian loan was not a real one.

You may not have taken it up but it was real alright.

[Viewpoint]

No, just wondered if you will pay back the Russians first?

We don't owe them anything:

Nov. 15 (Bloomberg) -- Cyprus’s government has enough funds to finance this year’s obligations without a 2.5 billion-euro ($3.4 billion) loan from Russia, the head of the public debt management office said.

Are you sure, do you still have what we used to call offshore banking?

[bill cobbett]

Sigma are reporting that Noble may have what it calls the final quantity and quality results of the drilling for gas in the Aphrodite Block 12 concession in ... "the early part of the week"...

http://www.sigmalive.com/

Pretty decent google translation at... http://translate.google.co.uk/translate ... md%3Dimvns

[kurupetos]

Sigma are reporting that Noble may have what it calls the final quantity and quality results of the drilling for gas in the Aphrodite Block 12 concession in ... "the early part of the week"...

http://www.sigmalive.com/

Pretty decent google translation at... http://translate.google.co.uk/translate ... md%3Dimvns

Funny substance...souflidion hydrogen
It was a mistake in the original Greek text. It should read soulfidio, which means Hydrogen Sulphide, H2S

http://en.wikipedia.org/wiki/Hydrogen_sulfide

[bill cobbett]

Sigma are reporting that Noble may have what it calls the final quantity and quality results of the drilling for gas in the Aphrodite Block 12 concession in ... "the early part of the week"...

http://www.sigmalive.com/

Pretty decent google translation at... http://translate.google.co.uk/translate ... md%3Dimvns

Funny substance...souflidion hydrogen
It was a mistake in the original Greek text. It should read soulfidio, which means Hydrogen Sulphide, H2S

http://en.wikipedia.org/wiki/Hydrogen_sulfide

Yes, thought it was H2S as well ... what's that smell?...

[Hermes]

Gas value could amount to $18b

THE DIRECT proceeds from the discovery of natural gas off the island’s southern coast could amount to $18 billion, a University of Cyprus professor has forecast.

Panos Papanastasiou, who heads the civil engineering department at the state university, was referring to the value of unproved reserves, estimated to be between 3 and 9 trillion cubic feet within the gas prospect known as Block 12.

Papanastasiou, who has been appointed to a five-member group of experts advising the government on natural gas issues, said there was a high probability of more hydrocarbons being discovered in other plots.

Speaking yesterday at a lecture in Limassol, Papanastasiou said that due to political reasons a pipeline from Cypriot gas prospects to Turkey does not seem possible.

Noting that gas liquefaction was the best option, he said the most suitable location for an LNG plant would be at the site of the Vasilikos power station. The cost of the plant would reach some €10 billion.

Papanastasiou went on to call for the establishment of a national hydrocarbons agency and a Cyprus Petroleum Corporation and the setting up of an investment fund from gas proceeds.

http://www.cyprus-mail.com/natural-gas/ ... b/20111130

[humanist]

wow .... thats some money

[Hermes]

wow .... thats some money

This figure appears to refer to block 12. I don't even know if Block12 is the best prospect or if it was chosen first because of its proximity to the Israeli fields...

[bill cobbett]

wow .... thats some money

This figure appears to refer to block 12. I don't even know if Block12 is the best prospect or if it was chosen first because of its proximity to the Israeli fields...

On why Block 12 first, understand that...

In the event of a shared field, and the chances are that Block 12 and the Israeli field are the same reservoir, the CoLotSea has a provision (can't remember what it is called) that allows extraction by one of the parties without having to wait for the second party to get its act together, in fields that overlap EEZs.

So it was pressing that Block 12 was developed quickly to catch up with the Israelis in a poss shared reservoir. May explain what some have condemned as the "rush" to drill Block 12.