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Alias Born | 04/12/2006 |
Wednesday, July 21, 2010 11:33:55 AM
In any event I think its time to step back and look at the BIG picture kind of like BB does.
As far as the JDZ having oil:
1. the initial seismics indicated lots of oil (was it 14 bbn of oil?). Plus, oil is being discovered all around the JDZ
2. first indication from Block 1 was lots of oil, but then the tight hole took over for a couple of years until the news
3. Addax buys into Block 1, are they stupid or do they know something we don't know?
4. Chinese buys Addaz, are they stupid or do they know something we don't know?
5. Total buys into Block 1, are they stupid or do they know something we don't know?
6. ERHC releases news about Blocks 2,3 & 4 drilling, gas found, but comments very controlled about details because of operator. The operator, Sinopec, do they know something (or refuse to disclose) we do not know?
The common thread here is that information about the JDZ is being kept VERY secretive. What could be the reason? Does Sinopec want to hide bad results to save face or is Sinopec being secretive because they have future plans in other Blocks of the JDZ as well as the EEZ? What makes sense? Still the BIG question is, IS THERE OIL IN THE JDZ (blocks 2,3 & 4). We know now from Total's entry into Block 1, there IS oil in the JDZ. Does the oil stop at the boundary line of Block 1. You make the call.
Still thinking about the drilling results? Do we have to wait to Sept? Will Sinopec announce they are going forward with Phase 2 before Sept? When will the NSAI report be issued? Will anyone announce that a drillship is coming to the JDZ? Soon?
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