JUNIOR OIL PLAYS

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FECOF .048... read this... its almost unbelievable

Aquino bares 2 oil exploration projects

January 26, 2011, 8:45pm
MANILA, Philippines – President Aquino is excited about two oil exploration projects in the country, including a probable oil reserve in Palawan that may be as big as Iraq’s stock.

The President mentioned the two prospective oil finds that could help meet the country’s oil requirements during a tribute to his mother, the late President Corazon Aquino, in Malacañang last Tuesday.

“A military official has told me about the start of a seismic study in an area of Palawan (that is FECOF .048) which allegedly is as big as Iraq’s proven reserves. Iraq, by the way, has the second biggest proven reserve next to Saudi Arabia,” he said in his speech.

The President also cited that local officials of Mindoro Occidental have also informed him about the “sizeable natural gas field” that is being verified in their province.

“Those are the natural resources that are found in the country but there are also those secured by our hard work,” he said.

Apart from oil exploration projects, the President highlighted the flow of investments in the country coming from Japan and other countries. (Genalyn Kabiling)