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LONDON (SHARECAST) - A joint venture between Tullow Oil and Royal Dutch Shell has made an oil discovery at its Zeadyus exploration well, 150km offshore French Guiana.

The Guyana Maritime permit said it has encountered 72m of net oil pay in two turbidite fans, and the results of drilling and sampling show "good quality reservoir sands on prognosis."

The operator Tullow, owns a 27.5% interest in the licence, while Shell holds a 45% stake. French giant Total owns a 25% interest, while Northpet (50%-owned by Northern Petroleum and 50%-owned by Wessex Exploration) holds a 2.5% interest. The Northpet owners saw their share prices rocket 29% and 36%, respectively, on Friday morning.

"The objective of the Zaedyus well was to test whether the Jubilee-play, successfully established in West Africa, was mirrored on the other side of the Atlantic. This discovery therefore opens a new hydrocarbon basin within which several neighbouring prospects have been mapped," Tullow said.

Furthermore, the discovery is said to reduce the exploration risk associated with the firm's prospect inventory offshore French Guiana, Suriname and Guyana.

Dave Lawrence, Shell's executive vice president of Exploration and Commercial, said, "We are pleased with the preliminary results of this first ever deepwater well offshore French Guiana. We are early in the evaluation, but the initial results are encouraging for this new play. The joint venture will continue to drill ahead, evaluate the well results, and determine next steps."


Tullow's exploration director Angus McCoss commented, "The discovery at Zaedyus has proved the extension of the Jubilee-play across the Atlantic and made an important new discovery in French Guiana. Tullow has built a commanding and unique acreage position in South America and this result marks the start of a significant and potentially transformational long-term exploration and appraisal campaign in the region."

Shares in Tullow were given a boost on Thursday on the back of rumours that China National Offshore Oil Corporation (CNOOC) is eyeing up the firm.

http://www.sharecast.com/cgi-b...cgi?story_id=4499931

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quote:
Tullow's exploration director Angus McCoss commented, "The discovery at Zaedyus has proved the extension of the Jubilee-play across the Atlantic and made an important new discovery in French Guiana. Tullow has built a commanding and unique acreage position in South America and this result marks the start of a significant and potentially transformational long-term exploration and appraisal campaign in the region."



I wonder if this vain goes all the way to Africa?

Albert, Streetfart, SJdummy et al, allyo keep on cussing dem imperailists, dem Chinese coming to colonize allyo baxside.
Mitwah
Not really. I am shocked that someone who claim to be Educated can be so Dumb and illiterate.
quote:
Originally posted by baseman:
quote:
Originally posted by Nehru:
UH??
quote:
Originally posted by baseman:
The anti-Western posture of the PPP will ensure Guyana remains an island of poverty in a sea of prosperity.

Very appropriate response. Like the train just hit you in the head!
Nehru
quote:
Originally posted by Nehru:
Not really. I am shocked that someone who claim to be Educated can be so Dumb and illiterate.
quote:
Originally posted by baseman:
quote:
Originally posted by Nehru:
UH??
quote:
Originally posted by baseman:
The anti-Western posture of the PPP will ensure Guyana remains an island of poverty in a sea of prosperity.

Very appropriate response. Like the train just hit you in the head!

As I said, very appropriate given from where you came.
FM
quote:
Originally posted by Mitwah:
quote:
Tullow's exploration director Angus McCoss commented, "The discovery at Zaedyus has proved the extension of the Jubilee-play across the Atlantic and made an important new discovery in French Guiana. Tullow has built a commanding and unique acreage position in South America and this result marks the start of a significant and potentially transformational long-term exploration and appraisal campaign in the region."



I wonder if this vain goes all the way to Africa?

Albert, Streetfart, SJdummy et al, allyo keep on cussing dem imperailists, dem Chinese coming to colonize allyo baxside.

The USA will not allow the development of strategic resources in Guyana as long as we have an anti-US/West political environment and leadership. Due to this, Guyana will remain one levl above subsistence. The illiterates don't see the connection and are perfectly at home cutting cane, hauling punts and bagging rice. Then when they can't make it anymore on that, they come in a cobby hole in NY and drink rum and do dem gana-bajana in Nest and such places, singing the praises of the PPP. Unfortunately, this is the bunch who controls the political machinery and have the biggest mouths, albeit bad breath.
FM
quote:
Originally posted by Nehru:
Not really. I am shocked that someone who claim to be Educated can be so Dumb and illiterate.
quote:
Originally posted by baseman:
quote:
Originally posted by Nehru:
UH??
quote:
Originally posted by baseman:
The anti-Western posture of the PPP will ensure Guyana remains an island of poverty in a sea of prosperity.

Very appropriate response. Like the train just hit you in the head!

It's actually amusing to see a big man living a lie and believing it for real. He must have you real psycological gap trying to fill.
FM
quote:
Originally posted by Cobra:
quote:
Originally posted by baseman:
The anti-Western posture of the PPP will ensure Guyana remains an island of poverty in a sea of prosperity.


Guyana oil wealth has been there for decades and President Jagdeo, and the PPP will make such exploration possible.

It has been there for centuries and remain there for a long time. The US will keep it there, you watch, PPP will just watch and wring their hands like CBJ did for 28 years. The Chinese won't be able to help, there are lots of spanners flying around.
FM
From where I came?/ I am not from Hubu backdam like you.
quote:
Originally posted by baseman:
quote:
Originally posted by Nehru:
Not really. I am shocked that someone who claim to be Educated can be so Dumb and illiterate.
quote:
Originally posted by baseman:
quote:
Originally posted by Nehru:
UH??
quote:
Originally posted by baseman:
The anti-Western posture of the PPP will ensure Guyana remains an island of poverty in a sea of prosperity.

Very appropriate response. Like the train just hit you in the head!

As I said, very appropriate given from where you came.
Nehru
Good one Mits. Why it took Al Yuh so long to figure it out? I was expecting a little Humor a long time ago. yippie yippie
quote:
Originally posted by Mitwah:
quote:
Originally posted by Cobra:
quote:
Originally posted by baseman:
The anti-Western posture of the PPP will ensure Guyana remains an island of poverty in a sea of prosperity.


Guyana oil wealth has been there for decades and President Jagdeo, and the PPP will make such exploration possible.


Cobra + oil = snake oil Big Grin
Nehru
quote:
Originally posted by Mitwah:
quote:
Originally posted by Cobra:
quote:
Originally posted by baseman:
The anti-Western posture of the PPP will ensure Guyana remains an island of poverty in a sea of prosperity.


Guyana oil wealth has been there for decades and President Jagdeo, and the PPP will make such exploration possible.


Cobra + oil = snake oil Big Grin


Big Grin yippie dis is one of the best on GNI.
T

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