InvestorsHub Logo
Followers 43
Posts 2886
Boards Moderated 0
Alias Born 05/17/2005

Re: None

Monday, 03/12/2007 9:52:28 AM

Monday, March 12, 2007 9:52:28 AM

Post# of 361654
The STP point of view...


Blocks 2 and 4 of the joint zone Are Tomé and Príncipe/Nigéria goes to be perforateed in August of 2008 The two companies who had gained right to explore blocks 2 and 4, had decided to join financial resources in the order of 20 million dollar to give to beginning the oil research. The company Whisker Addax Petroleum that operates no 4 block and the Sinopec Chinese block 2, had initialed no last weekend no Miramar hotel in Is Tomé, the dos agreement that goes to allow to the opening first punctures us two wells already in August of 2008. The company Indiana Aban Abraham Offshore, is the responsible one for the execution of the 5 enrolled punctures in the agreement. In a cerimónia where they had taken part the directors of the Joint Authority Are Tomé and Príncipe/ Nigéria, the company Addax Petroleum and Sinopec, had decided to join ways to contract the boat that goes to make the first punctures in simultaneous in the two blocks. Tim Martison, director of the Swiss company for operations in the zone of joint exploration Is Tomé and Príncipe/Nigéria, explained that it has not been easy to find ships capable to effect punctures in so deep waters. Blocks 2 auctionzed by 71 million dollar and 4 in the value of 90 million, are located in a depth that varies enters 1500 the 3500 meters. according to technician of the Addax company, the operation costs very are avultados, therefore the two company had decided to join themselves to lead ahead in the task of perforation of the blocks that goes to cost 20 million dollar more than. To support the operation that goes to last 45 days, the two company go to pay to the company Indiana Aban Abrahan 410 a thousand dollars per day. "Therefore we decide to perforate in set to reduce the costs. We go to make 5 punctures in next the 5 years ", clarified Tim Martison. The boat contracted for the perforation workmanships, goes to pass in the next months for a deep whitewashing. The Minister of the Natural resources, Manuel de Deus Rasp, that presided over the cerimónia, detached the importance history of the signature of the agreement that goes to allow the country to know the potential of existing oil in the two blocks. "He has much that we were the wait of this event, or either of the companies who if find in the blocks that already had been evicted. Therefore our enormous satisfaction for the fact of wants the Sinopec wants the Addax to have fond of this agreement with the Aban Abraham in the direction to proceed the perforation from blocks 2 and 4", affirmed the Minister. Manuel de Deus Rasp, added that identical process goes to happen briefly with block 3, that the American company Anadarco for the value of 40 million dollar was evicted. The signature of the agreement enters the three on companies the oil exploration, happened in a weekend where dossier oil was in the center of the attentions in Is Tomé and Príncipe. The Joint Ministerial Advice, supreme agency of the zone of joint exploration Is Tomé and Príncipe/Nigéria was congregated in Is Tomé. The decisions exits of the meeting enter the Ministers of the some sectors of the two countries, had still not been become public.

A wise man never plays leap-frog with a unicorn.