Cyprus close to u.s. oil deal

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
05/12/2008 21:08

Its looking like Cyprus is close to an oil deal with a u.s. company for one of the Hydrocarbon exploration blocks.Will Turkey try to stop the exploration or hang back due to their ties with the u.s.a.,

Paul.

MUSIN M


Joined: 26/06/2008
Posts: 1352

Message Posted:
05/12/2008 22:00

paul

its all rubbish



look up marks post "is this going to get nasty"





musin

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
05/12/2008 22:11

Sorry Musin never saw that one,

Paul.

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
05/12/2008 22:27

newlad.

1: There is oil and gas in the Med.

2: There is not really that much of it.

3: None of the major O&G companies are interested.

4: The seismic survey's have all been done before and nobody was interested in taking up exploration licenses then and aren't now.

5: Exploration licenses were put out to tender, no one was interested so the GC's gave the licenses away. One to an Egyptian company and the other I have no information about (but I think it may be an African company).

It is a political manoeuvre designed to derail the re-unification process.

As simple as that.

AJ

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
05/12/2008 22:51

suzanne

famagusta gazette?

I live in the real world. Oil and Gas has been my life for the last 25 years.

Us "oily's" know what is going on in the industry. It is a very close community.

We will see what happens and I would not want to be the one that tells you "I told you so"

Take care

AJ

BillyB


Joined: 19/05/2008
Posts: 436

Message Posted:
05/12/2008 23:41

Have to agree with AJ at $44 a barrel at the moment there's not alot of room for profit.

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
05/12/2008 23:45

No but over the last 2 years they have had our pants down big style.

andysue


Joined: 12/11/2007
Posts: 891

Message Posted:
06/12/2008 00:06

i watched a programe recently on one of the discovery channels about the oil and gas running out, it asked experts were the last major feilds where, im sorry folks but the med wasnt even mentioned. it seems canada and russia in their extreme regions are the places they are concentrating on. regards andy

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
06/12/2008 00:06

Turtle

The last time they pulled this stunt, oil was at an all time high and still no one was interested. Oil and gas is there but it is marginal. No company in their right mind would invest in marginal fields when there is no existing infrastructure. BP and Esso have pulled out of the North Sea and smaller companies have taken over only because the infrastructure was already in place. To all intents and purposes the North Sea is finished Oil & Gas wise. So why would anyone be interested in the the paltry reserves in the Med?

AJ

Peeky



Joined: 08/05/2008
Posts: 100

Message Posted:
06/12/2008 00:34

Oil and gas reserves are finite. Full marks here Peeky for stating the obvious. But at some time in the future the paltry Med reserves will be worth exploiting. Meanwhile both Greece & Turkey like to rattle sabres whenever the topic comes to the fore, because not to do so would be interpreted by their respective electorate and the rest of the world as being weak. And there will be hope on both sides of finding larger than predicted reserves, no matter what the "Oilies" reckon.

RedSnapper


Joined: 12/08/2008
Posts: 540

Message Posted:
06/12/2008 00:45

for all the clampits out there they`ve even started drilling in England near me in the middle of a wheat field in Eakring, looks like they`re going to some real lengths to get the stuff, like you`ve said $140 a barrel when they got this licence, $44 now... http://www.egdon-resources.com

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
06/12/2008 00:53

Peeky

"But at some time in the future the paltry Med reserves will be worth exploiting." Maybe maybe not. Who knows what will happen in the future. I am talking about the present. I think it is unfortunate that tax payers in the ROC are being taken for a ride because of their governments political posturing.

AJ

Turtle


Joined: 28/05/2007
Posts: 2669

Message Posted:
06/12/2008 00:57

Nothing new there then AJ.

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
06/12/2008 01:01

Oil and gas reserves in the mediteranean region are likely to be very small, deep and at the moment too expensive to extract.

Exploration at moment would simply be to identify a presence. In 15 -20 years extraction may beome viable but probably with very limited return.

ROC are probably more interested in the political one upmanship over TRNC to be gained if they are able to declare a find.

It is also very likely that TRNC are aware of this and, in my view, are correctly viewing the escapade as divergent from the current settlement talks.

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
06/12/2008 01:08

Waz

Spot on.

MUSIN M


Joined: 26/06/2008
Posts: 1352

Message Posted:
06/12/2008 01:16

aj

and waz 24 7



at last you guys have read the greeks ambitions,they are provoking turkey and hoping they will react.



but you know what guys if we have worked it out i,m sure the turkish politicians have .



have a nice evening

musin

long live the kktc

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
06/12/2008 01:23

musin

It does not take oil and gas exploration to make me aware of what is going on in Cyprus. It just confirms it.

Take care and keep the faith.

AJ

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
06/12/2008 12:06

Alsancakjack,

re-mess 4 hasnt the re-unification process already come of the rails.I realise that there is a lot of propaganda flying about regarding the oil and i have become a lot more street wise to the conflict.The problem i find though is hearing or reading the other(t.c.) side of the argument.Which is very frustrating,

Paul.

windmill


Joined: 06/07/2008
Posts: 143

Message Posted:
06/12/2008 13:26

All you "oily,s"out there,

What if any,are your views on Emerald Energy ,is it a buy ?

I know DYOR

AlsancakJack



Joined: 14/08/2008
Posts: 5762

Message Posted:
06/12/2008 13:47

windmill

I don't do stocks and shares but as far as I know Emerald Energy are more of an oil and gas exploration company rather than a production company. If you want to buy shares in an exploration company then be prepared for a bumpy ride.

AJ

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
06/12/2008 17:11

Check out Tollow oil... A much better bet.

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
06/12/2008 17:35

Sorry, ...shold be Tullow oil

windmill


Joined: 06/07/2008
Posts: 143

Message Posted:
06/12/2008 17:52

Hello WAZ,

Funny you said that,if you can get hold of todays Mail,there is a small piece on Tullow oil

windmill


Joined: 06/07/2008
Posts: 143

Message Posted:
06/12/2008 18:07

AJ

Thanks for your reply,bumpy ride,tell me about it,will it ever end.

WAZ-24-7



Joined: 18/10/2008
Posts: 695

Message Posted:
06/12/2008 18:12

Windmill, Not seen it.

What does article report?

windmill


Joined: 06/07/2008
Posts: 143

Message Posted:
06/12/2008 19:52

Waz,

With oil trading at a four year low,below $44 a barrel,Tullow Oil dipped 51p to 443p

Tell me a share that has not dipped