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    Cyprus Mail: Gas finds always ‘hit and miss’

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Summary

Politis reports that latest data available shows that two other earmarked targets within block 12 do not hold commercially exploitable gas reserves.

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Press Notes

Cyprus Mail: Gas finds always ‘hit and miss’

Recent remarks by energy minister Giorgos Lakkotrypis have given rise to conjecture that offshore Block 12 may not hold additional exploitable gas reserves other than the Aphrodite well.

After announcing last Friday that drilling at the Onasagoras play in Block 9 came up dry, the minister was asked by journalists about Noble Energy’s plans for their block 12 concession.

Lakkotrypis said the Texas-based company has yet to plan out either additional appraisal drilling at Aphrodite or exploratory drilling at another site.

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