Cyprus-Forum.com

[Demonax]

Oil potential ‘double previous estimates’:

Noble: 3 billion barrels of oil at Leviathan, Block 12

Noble Energy has told analysts that Leviathan and the neighboring field in Cyprus might each contain 1.5 billion barrels of oil.

Noble Energy Inc. (NYSE: NBL) believes that as much as 3 billion barrels of oil might be discovered in Israeli and Cypriot waters. Delek Group Ltd. (TASE: DLEKG) is Noble Energy's partner in the Leviathan prospect and the neighboring Block 12 (Aphrodite) prospect in Cyprus. Until now Noble Energy had only spoken about the potential for 1.5 billion barrels of oil at Leviathan but now it seems there may be similar oil potential at Block 12. Noble and Delek have already discovered 19 trillion cubic feet of natural gas at Leviathan and 4 trillion cubic feet at Block 12.

Noble confirmed the estimates that have been circulating in recent days that the oil potential in the region is double previous estimates during a comprehensive briefing with analysts. Regarding the start of an exploratory drill for oil at Leviathan, Noble Energy confirmed "Globes" reports that it will not begin before the end of 2014 or early 2015. The main reason for the delay according to Noble Energy CEO Charles Davidson is the regulatory uncertainty over the Leviathan field's development program.

http://www.globes.co.il/serveen/globes/ ... 85&fid=942

[bill cobbett]

Massive, massive news for CY...

... and it isn't just about the big reservoir of nice and sticky oil that underlies the gas at Aphrodite, it's also about the relative ease and speed with which this oil can be exploited and brought to market.

Much, much easier to exploit oil as opposed to gas. It goes straight in to tankers from the well-head for delivery to any refinery anywhere.

At a guess, this oil could start to be monetised within a couple of years.

Very exciting news for CY.

[Get Real!]

New flag proposal for the "TRNC" :

ET_060512.jpg

[Paphitis]

New flag proposal for the "TRNC" :

ET_060512.jpg

Should this be "The End Game" by Erdogan.

[Oceanside50]

Barbaros will be making headlines..soon

[Get Real!]

Download the presentation below...

http://www.nobleenergyinc.com/operation ... n-128.html

[bill cobbett]

Oh and just so the few remaining turkish-speaking supporters of "trnc" don't feel completely left out, here is the exciting news in turkish (from haber"kktc") ...

'... Tek yanlı olarak ilan edilen sözde Rum MEB'indeki 12'inci parselde, 24 bin 600 ayak derinlikte; 1,2 ile 1,4 milyar varil arasında petrol bulunduğu ve Rum kesiminin bundaki payının değerinin 60 milyar Euro civarlarında olduğunun hesaplandığı haber verildi.

Fileleftheros gazetesi "12'inci Parselde 60 Milyar Euro'luk Petrol... Noble'nin Araştırmaları Muazzam Bir Potansiyelin Kapılarını Açıyor" başlığıyla manşete çektiği haberinde, Noble, Delek ve Avner şirketlerinin faaliyette bulunmakta olduğu 12'inci parselde yapılan ve kısa zaman önce tamamlanan 2 ve 3 boyutlu detaylı sismografik araştırmaların, bu sonuca işaret ettiğini yazdı. ... "

[kurupetos]

New flag proposal for the "TRNC" :

ET_060512.jpg

RIP.

[Demonax]

Block 12 could hit oil jackpot

TIME will tell, but debt-ridden Cyprus may have hit the jackpot after Noble Energy announced yesterday that some 1.5 billion barrels of oil could lie in deepwater strata off the island’s southern coast.

In a statement, the Texas-based energy company said “There is evidence of multiple opportunities in the Eastern Mediterranean with approximately 3 billion barrels of gross unrisked oil potential in the deep Mesozoic play in both Cyprus (1,496 MMBoe) and Israel (1,538 MMBoe). We are evaluating 3D seismic data on an ongoing basis and plan to resume exploration drilling in the Eastern Mediterranean in late 2014 or early 2015.”

MMBoe stands for one million barrels of oil equivalent.

The statement followed a conference hosted by Noble in Houston with analysts and investors on the company’s operational outlook.

“Significant exploration potential remains on the company’s acreage position in the Eastern Mediterranean, with approximately 3 billion barrels of gross unrisked oil potential in the deep Mesozoic play in both Cyprus and Israel and four trillion cubic feet gross of natural gas potential in Cyprus,” the company said during the conference.

http://cyprus-mail.com/2013/12/18/block ... l-jackpot/

[Flying Horse]

Without a pot to pee in, are the purchase of these two boats to protect the oil potential?

http://cyprus-mail.com/2013/12/18/decis ... -gunboats/


Whilst I can understand the need to protect future investments, and put off antagonistic eyes of such things as the 'Barbarosa'. Is it really necessary at this moment in time, when Cyprus' people are broke and scrabbling around to make ends meet?

Cart before the horse?