What will happen with the Oil Blocks on Private Property ??

DG it is possible the US and Britain did not want the government at the time of the find, to be in a position where they could have become wealthy. It would be interesting to find out more on this and as you said..why did things go blank?

cain posted:

Sometime in late 60s to early 70s I remember hearing oil found on some property then never heard a word after. Does anyone remember this?

Home Oil, a Canadian company, found oil at Karanambo but it was determined that the oil was not available in commercial quantities.

Django posted:

 

Looking at this map with the oil block some seems to be on land,it appears a property i have in the homeland is in one of the blocks,suh can i drill and install a pump,damn looks i gonna get rich.

Then this could be a good thing as some people would no longer need the income from fetching pnc slop can.

cain posted:

DG it is possible the US and Britain did not want the government at the time of the find, to be in a position where they could have become wealthy. It would be interesting to find out more on this and as you said..why did things go blank?

Cain, briefly to your comments.

In the early 1960 explorations showed that oil and natural resources exist in commercial quantities in Guyana.

However due to the political situation; first with the PPP in government the approach for further developments were depressed.

When the PNC came to power in 1964 there were a few initiatives. However, as the political situation made a drastic turn when the PNC government nationalised businesses and Forbes Burnham was firmly aligned with the then USSR, issues came to an end.

Also of note, oil was already developed in Venezuela and Trinidad, places which were then; especially Venezuela; firmly aligned with the US_of_A.

Mars posted:
cain posted:

Sometime in late 60s to early 70s I remember hearing oil found on some property then never heard a word after. Does anyone remember this?

Home Oil, a Canadian company, found oil at Karanambo but it was determined that the oil was not available in commercial quantities.

Guyana has a history of petroleum exploration. Guyana's offshore Guyana Basin and the inland Takatu Basin have attracted companies such as ShellTotal and Mobil since the 1940s who have done much geological surveyance of the area and have drilled a number of wells.[1]

https://en.wikipedia.org/wiki/...xploration_in_Guyana


 

I can recall Takatu Basin was mentioned.

Django posted:
Mars posted:
cain posted:

Sometime in late 60s to early 70s I remember hearing oil found on some property then never heard a word after. Does anyone remember this?

Home Oil, a Canadian company, found oil at Karanambo but it was determined that the oil was not available in commercial quantities.

Guyana has a history of petroleum exploration. Guyana's offshore Guyana Basin and the inland Takatu Basin have attracted companies such as ShellTotal and Mobil since the 1940s who have done much geological surveyance of the area and have drilled a number of wells.[1]

https://en.wikipedia.org/wiki/...xploration_in_Guyana


 

I can recall Takatu Basin was mentioned.

Karanambo is in the Takatu Basin. 

Mars posted:
Django posted:
Mars posted:
cain posted:

Sometime in late 60s to early 70s I remember hearing oil found on some property then never heard a word after. Does anyone remember this?

Home Oil, a Canadian company, found oil at Karanambo but it was determined that the oil was not available in commercial quantities.

Guyana has a history of petroleum exploration. Guyana's offshore Guyana Basin and the inland Takatu Basin have attracted companies such as ShellTotal and Mobil since the 1940s who have done much geological surveyance of the area and have drilled a number of wells.[1]

https://en.wikipedia.org/wiki/...xploration_in_Guyana


 

I can recall Takatu Basin was mentioned.

Karanambo is in the Takatu Basin. 

Thanks Mars,

here is an article on Karanambo

Demerara_Guy posted:

A person does not have the rights to oil and other natural resources under their property.

Where the natural resources are developed, the company will be granted access to the areas of the developed resources.

Does Guyana have a statute to this effect (as you stated above) ?

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