hearing from sources!!!

[Exile]

Yu and Jawge? No...mi naw bathe at all...

[Don1]

Oil drilling in the walton Basin as long started and Commercial Quantity is found.However they are now doing more indepth analysis as to the Quantity and Quality before going to the appropriate Ministry.

This would be great if true. I doubt it however.

Offshore drilling requires the construction of big oil platforms. Any reports of that in the area? Their existence would be very newsworthy.

Last reports stated that Finder/Gippsland who own the concession were trying to farm out the acreage for drilling by a bigger company because they can't afford the US$50-100m cost of exploratory drilling. There's been no announcement of any development in drilling.

I hope you are right and I'm wrong.

[Willi]

Lol

You need a wash rag then. LoL

[Willi]

Even in the best case, we would be at least 2 years from any production of oil/gas.

[Exile]

OK...will buy one today...(yu gwan)

[Willi]

And same some of the "water" for you fren dem. LoL

We not bathing, we getting flayed!

[Don1]

Even in the best case, we would be at least 2 years from any production of oil/gas.

agreed. but that would be OK.... we would have hope of some relief.... but EXPLORATORY drilling itself may be 2-3 years down the line IF a major thinks it's worthwhile based on the seismic and hydrogeological studies.

[Willi]

Based on what I recall, it seems that exploratory drill was expected in a matter of months, given the quality of the prelim data.

Lets say 6 months in the very best case, that means practically production is at least 3 years away in the best scenario....unless an elephant field is suspected and then all bets are off as EVERYONE would be charging in and compressing time to half of "normal".

[Pepsi]

This would be great if true. I doubt it however.

Offshore drilling requires the construction of big oil platforms. Any reports of that in the area? Their existence would be very newsworthy.

Last reports stated that Finder/Gippsland who own the concession were trying to farm out the acreage for drilling by a bigger company because they can't afford the US$50-100m cost of exploratory drilling. There's been no announcement of any development in drilling.

I hope you are right and I'm wrong.

grippsland had sign a contract with a chinese firm to drill.

[Don1]

Based on what I recall, it seems that exploratory drill was expected in a matter of months, given the quality of the prelim data.

Lets say 6 months in the very best case, that means practically production is at least 3 years away in the best scenario....unless an elephant field is suspected and then all bets are off as EVERYONE would be charging in and compressing time to half of "normal".

my guess would be in best case scenario.... production in 5-7 years.

In case you like details (as I do)

http://finderexp.com/Portals/0/docs/...%20Summary.pdf

[Don1]

grippsland had sign a contract with a chinese firm to drill.

Maybe so but here is a Nov. 2 report from Upstream Oil & Gas:


Gippsland back in Jamaica hunt

By Russell Searancke

Australia's Gippsland Offshore Petroleum has resumed its pursuit of a farm-in partner for its frontier offshore exploration in Jamaica, and is preparing to start operations on a new onshore permit in France.

The company reckons its five Jamaican blocks could contain several billion barrels of recoverable oil, and that this potential and its proximity to the US is driving interest in the area by "major oil companies".

"Progress with our farm-out of Jamaica has been slow thanks to us commencing the process as the northern hemisphere parties were all heading on summer breaks," said Gippsland boss Cathy Norman. "All companies are back to business now and we are reigniting pursuit of a partner to join us in the next phase of exploration involving, most likely, further seismic and drilling."

Partners in blocks 6, 7, 10, 11 and 12 in the Walton basin are Gippsland (50%) and its compatriot Finder Exploration (50%).

Meanwhile, Gippsland is pleased that its long application process for its French acreage is over and it has been awarded the St Griede permit in the Aquitaine basin together with

compatriot Gas2Grid.

The partners plan to start their five-year exploration programme in the new year.

02 November 2007 00:43 GMT | last updated: 02 November 2007 04:48 GMT
Jamaica party: Gippsland is seeking a partner to explore off the Caribbean
country



The Chinese are very efficient but I doubt that they could have gotten drilling going in the 4 days since this release.

[Pepsi]

well well well,thanx a million .atleast we have something to look forward to.Good post Doni.

[Willi]

Sweet.

Thanks