Petrel Resources
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Gibt es irgendwelche News?
aber die können das öl ja nur fördern wenn es da ruhig bleibt .
gruss botan
MFG
Chali
Wie hoch sind denn die Reserven überhaupt in Subba & Luhais ??
MFG
Chalifmann
20 February 2008
Petrel Resources plc ('Petrel' or 'the Company')
Renewed Agreements with Iraqi Government
O Iraqi Government approved extension to Petrel's current agreements
O Steady progress on Subba & Luhais EPC project
O Registration completed for exploration and development contracts
Petrel is pleased to report that the Iraqi Ministry of Oil has today approved
extension of the technical cooperation agreement with Petrel for another year.
The Company expects to meet shortly with the relevant Ministry officials to
formalise arrangements. It is expected that Petrel will embark on a new oil &
gas field study as part of this programme.
Petrel, as Contractor to the Ministry, is also driving forward the existing
Subba & Luhais EPC (Engineering, Procurement & Supervision of Construction)
project. Surveys have been conducted and major equipment delivered to site
without security incidents. Petrel's experience proves that it is possible to
work without insuperable difficulties in southern Iraq.
Petrel has also recently registered as a company interested in future Iraqi
exploration and field development contracts. Petrel expects to be invited
shortly to discuss Western Desert Block 6, which Petrel has studied since 2000.
The Company believes that negotiations are likely to be conducted under the
existing hydrocarbon laws.
David Horgan, Managing Director of Petrel commented:
We are very pleased to have begun the process which will see us move from
managing technical studies and EPC projects to becoming a fully fledged
exploration and production operation.
Our long standing experience in Iraq will give us vital first mover and
technical advantage over competitors. We remain entirely committed to our
Southern Iraq development strategy and to working with the Iraqi Oil Ministry to
help monetise the potentially vast resources available to risk aware investors'
MFG
Chalifmann
Tue Feb 19, 2008 1:59pm EST
DUBLIN, Feb 19 (Reuters) - Irish exploration company Petrel Resources (PET.L: Quote, Profile, Research) expects to secure rights from Iraq's government for an oil exploration block in the country's western desert, its managing director David Horgan said on Tuesday.
Over 70 companies on Monday registered to compete for oil extraction and service contracts to help develop Iraq's oil reserves, the world's third largest.
Petrel had signed a working agreement in 2002 with the then Saddam Hussein government to explore Block 6, which is situated between Iraq and Jordan.
"We have been invited to negotiations reaffirming our title to Block 6," Horgan told Reuters in an interview. "I don't expect a problem in renegotiating that."
Iraq, currently producing around 2.3 million barrels per day, is seeking major foreign investment to tap into its massive reserves and significantly boost output.
Horgan said the company expected to go to Baghdad for talks in the coming weeks.
"Maybe by the summer the agreement will be in place," he said, adding it was not clear how long the talks would last.
"We will probably end up with somewhere between 25 to 35 percent net (of the concession)," he said.
He said the company could then mobilise seismic crews with a "view to drilling a well in the spring of 2009."
He added that production potentially could begin by 2010 to 2012.
Bloc 6 is believed to have a recoverable potential of about 3 billion to 5 billion barrels, but the site is one of the least explored in the western desert area.
Petrel is also involved in other oil projects in Iraq.
"The government wants us to first rubber stamp our exploration and development bloc before we develop a field," Horgan said.
MFG
Chali
Halt in die Hose gegangen.
Werde mal ab und zu reinschauen, derzeit bin ich nicht so mit cash bestückt.
:-(
Petrel ist gerade in Verhandlungen zu block 6.Hier sind noch ganz andere (zweistellige) Kurse möglich,kannst also immer noch "unten" einsteigen ...
Viel erfolg!
Chali