Is the ROC really up to the job?

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
08/10/2011 21:31

Re the EU presidency for 6 months:

http://www.cyprus-mail.com/eu-presidency/can-cyprus-pull-eu-presidency/20111002



I don't think so.

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
08/10/2011 21:53

They shouldn,t even be in the EU let alone host the Presidency

deputydawg


Joined: 30/03/2010
Posts: 1727

Message Posted:
08/10/2011 21:58

A 10 year old with a calculator would quickly conclude that the EU is financially bankrupt following being bankrupt of leadership from the off. No doubt the ROC would be as self serving as all the others who have had a turn at presidency/turn at the trough.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
08/10/2011 22:01

Why not, If they can afford to buy a round of drinks, at the Bar!!!!!!.



Of course NOT. They have no credibility.



wyn

gusanova


Joined: 23/11/2010
Posts: 187

Message Posted:
09/10/2011 11:24

uly is still a long way off and with this 'storm' brewing with Oil/Gas Exploration and this amazing story about allowing Israeli Warplanes to use its bases I feel soon that some of the Bigger Fish in EU will seek answers.



Also Turkeys comments cannot be taken lightly.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
09/10/2011 22:52

The stormy waters of the med.Everyone seems to want a piece now there is a chance of a bit of penga,



Paul.

andy-f


Joined: 03/05/2009
Posts: 1256

Message Posted:
09/10/2011 23:44

commie chris is in deep shit . i cant see him being in power when the south take on the E.U presidency and certainly not if and when a soloution is found the the cyprus problem.



hes trying to detract from his problems at home by involving isreal in the oil and gas dispute and all this is doing is making the U.S and nato edgy and concerned that a major conflict could erupt between to staunch freinds turkey and isreal.



NATO head rassmusen said as much in an interview with the washington post last week



andy

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
09/10/2011 23:53

Has it been confirmed that Cyprus is rich in oil and gas yet or is it still just a possibility? Is it exploration or confirmation?

philbailey


Joined: 17/01/2011
Posts: 3534

Message Posted:
10/10/2011 01:30

Surely anything that brings Cyprus

into the public/international news

is a good thing

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
10/10/2011 09:21

Well AJ,



For better or for worse, we'll get to see if you're right

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
10/10/2011 09:32

Mark

I am sure they will get a lot of 'guidance' if you know what I mean.

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
10/10/2011 09:37

Yup, but if your theory is right - they won't heed it..

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
10/10/2011 09:39

IF some folks in the EU are as smart as I hope they are.. they'll use this to highlight the CY problems for ALL Cypriots...





The Presidency of the EU means the RoC should represent ALL Cypriots.. it could be a poisoned chalice..

Troodo


Joined: 12/06/2008
Posts: 1002

Message Posted:
10/10/2011 09:53

mm. I do hope so.

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
10/10/2011 10:54

Bradus

Re message 8:



'Has it been confirmed that Cyprus is rich in oil and gas yet or is it still just a possibility? Is it exploration or confirmation?'



Despite being misquoted by 6ms (on a regular basis) I will reiterate that there is oil and gas under the sea every where on this planet but the problems are many fold. First you have to identify exactly where the the sub sea rock bearing strata is (seismic survey) and locating the same does not guarantee anything. Next once the seismic surveys are complete and everyone is happy with the surveys then the area concerned will be split up into licensing blocks and companies invited to bid for the right to carry out test drilling, also these companies by rights of their license will have a share of any proven hydrocarbons (oil and /or gas). Now come the problems, The quality of the oil and/or gas is not guaranteed and any operator has to assess the cost of pulling either/or out of the sea.

Continued

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
10/10/2011 11:09

It is well known that the gas reserves in the Med are of the 'sour gas' variety which means that the gas has to go through heavy processing. As to oil my guess is that there is not enough to make it economically viable. The other facts are that when the results of the seismic surveys were given to most of the major oil and gas companies in the hope that they would bid for licenses there were no takers. In the end a 'Wildcat' outfit called Noble Engineering were given a licence. The definition of 'Wildcat' is a company that will take chances where no others are interested. So in conclusion there have been no reported results from drilling that I am aware of and even if gas is found then there is going to have to be a major investment in building processing plants unless the gas is immediately exported to another country that has the facilities.

Bradus


Joined: 25/02/2007
Posts: 2641

Message Posted:
10/10/2011 12:25

Thank you AJ for such an excellent well detailed explanation. I will ignore all those forum members who are suggesting that Cyprus will be the richest country in the world, until more concrete evidence is forthcoming.

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
10/10/2011 12:41

re msg AJ



>>Despite being misquoted by 6ms (on a regular basis)<<



Please quote specifics, AJ.. happy to debate, but you're going to need to back such a contentious statement up..

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
11/10/2011 16:37

Hi AJ, I'm anxious to clear this up.. WHERE have I misquoted you.. ?



I'm not seeking a spat - heathy debate is good and educational..



You made a statement - please back it up with evidence or have the good manners to withdraw



Thanks

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
11/10/2011 17:01

AJ,

When you say 'ROC' do you mean the bit 'occupied' by CG's? i.e. The bit over the *border* ?



BTW, it tends to be gas in the northern Med that's sour, as in much of the Greek fields that virtually float on H2S.

southern fields (off Egypt certainly) are no problem.

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
11/10/2011 18:59

Hi Yrret



re msg 20



AJ certainly means the section being surveyed by Noble - right now



The Guardian article certainly backs up your contention that the southern areas might appear to be more productive..



http://www.guardian.co.uk/business/feedarticle/9854682

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
11/10/2011 20:29

Marky,

I am very familiar with the geology of the SE Med, worked there for many years on and off.

In fact, if you know anything about how Cy was formed, a process called subduction, where the Eurasian plate subducted below the African plate (hence the very deep Anatolian Trench between NC and Turkey) forming Cy above the Florence rise, you would easily understand from a few simple geological maps how the formations off the coast of Israel continue towards Cyprus, and get shallower. Doesn't necessarily mean there will be hydrocarbon deposits, in fact less likely the closer you get, however, close to the S coast of Cy would be a good place to shoot magnetic surveys, and if these looked good, 3D seismic.

If Noble find good returns where they are, it wold be a no-brainer to access the area further.

The only real problem nearer to the end of the Karpaz could be the tectonic slip fault there which if not sealing could have allowed a leak long ago.

There almost as boring as sat TV lol!

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
11/10/2011 20:43

Greece was accepted into the Economic and Monetary Union of the European Union by the European Council on 19 June 2000, based on a number of criteria (inflation rate, budget deficit, public debt, long-term interest rates, exchange rate) using 1999 as the reference year. After an audit commissioned by the incoming New Democracy government in 2004, Eurostat revealed that the statistics for the budget deficit had been under-reported.



Surely they are there by default?

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
11/10/2011 21:22

Hi Yrret,



Thanks for the non boring and knowledgeable explanation



I see Reuters has picked up on the possible visit by 'commie Jim ' to the platform and raised expectations of the potential of the field.



http://af.reuters.com/article/energyOilNews/idAFL5E7LB02D20111011

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
11/10/2011 21:28

AJ & Yrret

Thanks for your explanation & information on this subject,... very enlightening.



This Noble company, you say they are a "wildcat" outfit are there any instances where this company have been successful in finding large amounts of oil or gas ?

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
11/10/2011 21:53

Turtle

http://www.nobleenergyinc.com/Operations/Eastern-Mediterranean-128.html



You may want to read between the lines

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
11/10/2011 22:33

AJ,



I admit it, I failed to spot the message between the lines ..can you humour me, please ?

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
12/10/2011 08:56

Turtle,

'Wildcat' is a term used to describe an actual well, it's where there is little geological data in the area from other(called offset) wells. This is not strictly speaking a 'wilcat' as the geology is fairly well know, but not confirmed. Pressure below the surface can be estimated from other areas nearby, and from knowing the geology. This is more of an 'exploration' well, i.e. they know there 'may' be something there, but they are not shooting in the dark.



Many big finds have been made over the years with 'wildcat' wells, the most recent of significance probaly being the Falklands area, but none of these operations are carried out without detailed assessment and planning.

Gravity surveys taken from aircraft measure the sea bed contours, and the rock strata below and give an indication of where hydrocarbon traps could be, and seizmic data shot from boats will be more accurate still. it's then up to geologists to play 'pin the tail on the donkey' as to what may be there.