Cyprus-Forum.com

[bill cobbett]

Reported at Sigma Live...

Total Oil and ENI are reported to be signing the licenses for three of the CY EEZ plots later today.

Signature bonuses of 150 Million being paid to the Republic are reported.

The Director of the Energy Service of the Ministry of Commerce, Solon Kassinis, is saying that TOTAL WILL GO STRAIGHT TO THE OIL, drilling to 7,400 feet. Mr Kassinis is further reported as saying he is sure oil will be found.

Oil can be monetized much more quickly than gas. The crude is pumped straight into tankers for export to refineries.

More in Greek at... http://www.sigmalive.com/news/local/27011

[CBBB]

I wonder how quickly Christophias can spend the €150 million, he only has a few weeks left!

[bill cobbett]

Correction... other sources are reporting the signing today was between the Republic, Italy's ENI and S. Korea's KOGAS.

TOTAL reported as signing for two other plots in the near future.

[Get Real!]

It doesn’t look like it matters what they sign anymore… the money will vanish anyway!

[bill cobbett]

Our dear fellow Sheik GR, not even CY politicians and bankers could squander the staggering amounts that are potentially involved.

Breaking news from AP...

TOTAL of France will sign on the dotted line for two Blocks of the CY EEZ tomorrow (Weds)...!!!

... for a signing on fee of 100 Million Euros...!!!

Charles Ellinas (!) the head of the CY National H/C Company confirms TOTAL will prospect for the easy to monetise O>>>I>>>L ...!

Charles E. also gives us another estimate of the potential value of the estimated 60 Trillion cubic feet of gas in the CY EEZ, which at current prices of 10 Billion USD per trillion cubic feet, that makes OMG... !!! ... er... 60 Bil.... no it makes a remarkable 600 Billion USD ...!!! (less BillC's consideration)

http://www.usnews.com/news/business/art ... e-to-total

[CBBB]

Our dear fellow Sheik GR, not even CY politicians and bankers could squander the staggering amounts that are potentially involved.

Breaking news from AP...

TOTAL of France will sign on the dotted line for two Blocks of the CY EEZ tomorrow (Weds)...!!!

... for a signing on fee of 100 Million Euros...!!!

Charles Ellinas (!) the head of the CY National H/C Company confirms TOTAL will prospect for the easy to monetise O>>>I>>>L ...!

Charles E. also gives us another estimate of the potential value of the estimated 60 Trillion cubic feet of gas in the CY EEZ, which at current prices of 10 Billion USD per trillion cubic feet, that makes OMG... !!! ... er... 60 Bil.... no it makes a remarkable 600 Billion USD ...!!! (less BillC's consideration)

http://www.usnews.com/news/business/art ... e-to-total

Another bloody Charlie!

[bill cobbett]

Salt of the Earth these Charlies.

This is the Press Release from http://www.total.com, which talks of more seismic surveys... in Total's Blocks 10 and 11...

... Paris, February 6, 2013 - Total announces that it has signed two production sharing contracts (PSCs), for Blocks 10 and 11, with the Republic of Cyprus. The PSCs were awarded as part of the second offshore exploration licensing round, launched by the Cypriot government in 2012.
The licenses extend over 2,572 square kilometers and 2,958 square kilometers respectively, southwest of Cyprus, in water depths ranging from 1,000 to 2,500 meters.
The exploration program will begin with seismic surveys.
“We are delighted with this new exploration acreage, where we will be conducting an extensive seismic program, shooting 3D seismic on Block 11 and 2D seismic on
Block 10. Each block is targeting a different play”, commented Arnaud Breuillac, Senior Vice President, Middle East at Total Exploration & Production. “This acreage acquisition is aligned with Total’s ambitious exploration strategy focused on new acreage and plays.”

[Oceanside50]

billions and trillions of barrels and cubic feet of hydrocarbons, when will Greece declare its own EEZ in the Aegean and get this Cyprus problem solved already?