Replies to post #9030 on FEC Resources Inc. (FECOF)

[Lottalead]

Seismic surveys indicate that the Reed Bank is rich in oil and gas deposits, but they have only been partly tapped due to disputed claims from various countries, most particularly the PRC.[5]

Exploration in the area began in 1970, and in 1976 gas was discovered in the Sampaguita structure following the drilling of a well. In total, three wells have been drilled to date, all located at the south west end of the Sampaguita structure. The initial 2-year concession by the Philippines' Government to extract the resources, (SC72, formerly GSEC101,) was awarded to Sterling Energy PLC in June 2002. In April 2005, Forum Energy PLC (FEP) acquired the concession from Sterling and became its operator.[6] Forum Energy PLC (FEP) is a London-based listed oil and gas exploration firm focused on the Philippines; it is 64.45% owned by Philex Petroleum Corporation.[7]

[styl]

Hdymaniac; When was this drilled and confirmed?? Did I miss something? We stopped this project right before our first drill. We surveyed this.... twice. Seismographs. First it was a joint effort with china and the philipines... or maybe it was sterling who had the contract originally. But China was contracted to help with the exploration in seismographs. So did the USA . A first successful drill would be huge news. I don't think it's happened unless you're referring to that story two decades ago under the Marcos govt. in ph. Everything needs to be in legal format for it to fly. If there was a successful drill lately let me know when. I doubt it. At least not yet.