Cyprus-Forum.com

[kurupetos]

What are the chances of a nuclear power plant in Cyprus? (I just need a job)

Are you Homer Simpson?

No he's Mr Burns.

YFred is Smithers.

[bill cobbett]

Here is a para that explains the delay in publishing the final results of the Block 12/Aphrodite exploratory drilling by Noble...

"Two months ago, "Globes" reported that water had seeped into the borehole and premature signs of gas were causing problems in the drilling, and would delay publication of the findings. Noble Energy has not confirmed the report, saying only that 3D seismic survey found 3-9 trillion cubic feet of natural gas at Block 12."


In the same article there is an small indication of the revenue sharing model between Noble and the Republic...

"Cyprus's tax model on gas discoveries is different from Israel's. Israel levies a 40-50% tax and collects 12.5% royalties on sales from reservoirs. In Cyprus, the rights owner signs a profit sharing agreement on future oil and gas sales."


Haven't been able to find a % split for the profit sharing agreement.


http://www.globes.co.il/serveen/globes/ ... 4&fid=1725

[wyoming cowboy]

i heard cyprus will only get approximately 1 billion per year from plot 12

[Hermes]

Block 12 results are imminent. Latest rumour is looking good:

Market sources believe that the reservoir has at least eight trillion cubic feet (TCF) of natural gas, making it larger than the Tamar field. Noble Energy will probably begin production tests at the well site in February 2012. Cypriot website "Philenews" reports that Block 12 has 8-13 TCF, but the report is unsubstantiated and its credibility cannot be verified.

http://www.globes.co.il/serveen/globes/ ... 8&fid=1725

[bill cobbett]

Block 12 results are imminent. Latest rumour is looking good:

Market sources believe that the reservoir has at least eight trillion cubic feet (TCF) of natural gas, making it larger than the Tamar field. Noble Energy will probably begin production tests at the well site in February 2012. Cypriot website "Philenews" reports that Block 12 has 8-13 TCF, but the report is unsubstantiated and its credibility cannot be verified.

http://www.globes.co.il/serveen/globes/ ... 8&fid=1725

Politis is going even further carrying unconfirmed report that Aphrodite matches or is even bigger than the Israeli Leviathan well.

http://mobile.bloomberg.com/news/2011-1 ... -says.html

In the original Politis gives its source as being from the "ΓΕΩΤΡΗΣΗ" , from the "drilling" site.

[Hermes]

Politis is going even further carrying unconfirmed report that Aphrodite matches or is even bigger than the Israeli Leviathan well.

Here it is (via google translate):

AMAZING NEWS FROM DRILLING
Venus, like Leviathan!

Expectations appear to exceed the deposit on plot 12 of the Cyprus EEZ. Reliable sources that are able to know, say the Cypriot ore is similar to that of the Leviathan, which was marked "giant".

The same sources do not exclude even the possibility that the plot of Venus to overcome the Leviathan, creating new data even in the global gas market.

http://www.politis-news.com/

[bill cobbett]

Politis is going even further carrying unconfirmed report that Aphrodite matches or is even bigger than the Israeli Leviathan well.

Here it is (via google translate):

AMAZING NEWS FROM DRILLING
Venus, like Leviathan!

Expectations appear to exceed the deposit on plot 12 of the Cyprus EEZ. Reliable sources that are able to know, say the Cypriot ore is similar to that of the Leviathan, which was marked "giant".

The same sources do not exclude even the possibility that the plot of Venus to overcome the Leviathan, creating new data even in the global gas market.

http://www.politis-news.com/

... and according to the CY press digest at Reuters, Politis is reporting...

Noble Energy prospect off Cyprus thought to contain between 14 and 20 trillion cubic feet of gas, putting it on a par with Leviathan, in Israeli waters.

Jees!!!! Be nice if that were confirmed later in the week...

[B25]

That'll be our Chrismas box sorted, and the TCs can go ............ ask turkey for a loan.

[Hermes]

Further moves on the gas front. Looks like Gazprom are looking to set up a base in Limassol:

Gazprom: Installed in Limassol?

In the publication 'In-Business', the Russian giant Gazprom is in negotiations to secure a piece of land in Limassol, in order to construct a building that will house the headquarters for operations relating to Cyprus.

According to sources, not officially confirmed, strong rumours in recent days from financial circles in Limassol are not far from reality.

Strong rumors also talk about expanding the work of Gazprom in Cyprus in energy activities and there is a Russian bank interest and investment services firm in Limassol.

According to the same information from economic and political circles of Thessaloniki, the Russian consortium intends and is able to secure a plot in the Cyprus EEZ, for research and extraction of natural gas.

Indeed, some link the loan of EUR 2.5 billion from Russian banks with interest by the gas company for a plot in the EEZ of the Republic.

http://www.simerini.com.cy/

[bill cobbett]

Further moves on the gas front. Looks like Gazprom are looking to set up a base in Limassol:

Gazprom: Installed in Limassol?

In the publication 'In-Business', the Russian giant Gazprom is in negotiations to secure a piece of land in Limassol, in order to construct a building that will house the headquarters for operations relating to Cyprus.

According to sources, not officially confirmed, strong rumours in recent days from financial circles in Limassol are not far from reality.

Strong rumors also talk about expanding the work of Gazprom in Cyprus in energy activities and there is a Russian bank interest and investment services firm in Limassol.

According to the same information from economic and political circles of Thessaloniki, the Russian consortium intends and is able to secure a plot in the Cyprus EEZ, for research and extraction of natural gas.

Indeed, some link the loan of EUR 2.5 billion from Russian banks with interest by the gas company for a plot in the EEZ of the Republic.

http://www.simerini.com.cy/

Ooooh nice one Hermy,

Also in the same article and for the first time that have seen is an % take for the Republic... Sigma gives it as 85% of the profit for oil and 75% of the profit for gas. If these figs are accurate, they do seem very good for the Republic.

Also another range of estimates of between 9 and 12 trillion cf for Aphrodite.

The article also brings up the question of which to extract first the oil or the gas. Oil can be extracted very quickly, and they are saying within a remarkable 6 months.

This is what the article says about the oil... and the amounts of money are massively, hugely, way, way beyond eye-watering staggering...

Under the contract with Noble Energy, the profit rate for the Republic of oil is 85% and gas 75%.
The cost of extracting oil is about $ 30 a barrel. The amount estimated to contain the plot is approximately 12 290 (?) to 300,000,000,000 barrels and the price is over $ 100 a barrel. The mining can be done at 6 months and sell it directly.

Surely this is the quickest way to immediate profit, within a semester, but with the agreement made with Noble Energy, left the company alone to decide the first extraction of natural gas or oil.