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Post by ILIRI I MADH on Jan 11, 2008 2:02:17 GMT -5
10 January 2008 Tirana _ Vast and untouched reserves of oil and gas have been discovered in northern Albania, one of Central Asia's and Eastern Europe's leading petroleum corporations announced Thursday. The report was compiled by Gustavson Associates LLC on behalf of Manas Petroleum Corporation, which has been awarded a contact by the Albanian government to explore the north of the country for oil and gas reserves. According to their findings, the unproven reserve holds up to 2.987 billion barrels of oil and 3.014 trillion cubic feet of natural gas. However if the oil is capped with a layer of gas, Gustavson calculates the field to total 1.4 billion barrels of light oil and 15 trillion cubic feet of natural gas. And in the event that only gas is present, the reserve is expected to contain 28 trillion cubic feet of natural gas. The Balkans region has proven oil reserves totalling approximately 345 million barrels. Of that, 198 million barrels is located in Albania . Proven natural gas reserves in the Balkans region add up to approximately 2.7 trillion cubic feet. Under the licence awarded to Manas Petroleum Corporation, the company is allowed to explore oil and gas reserves in an area approximately 780,000 acres in size, located along a geological fold in north-western Albania. 'The probability of success for a wildcat well in a structurally complex area such as this, is relatively high due to the fact that there exists a proven hydrocarbon source and analogous production exists only 20 to 30 km away,' notes Gustavson in the report. Manas is currently still analysing the findings and will make further announcements on its next steps in the coming weeks. The corporation is an important player in the development of Albania's terrestrial oil and gas reserves. In December 2007, Albania's Council of Ministers agreed to allow DWM Petroleum AG, a subsidiary of Manas, to assist in the exploration, development and production of Albania's land-based hydrocarbon reserves in conjunction with the government's Agency of Natural Resources. www.balkaninsight.com/en/main/news/7297/Lets hope this will fix the economy
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Post by meltdown711 on Jan 11, 2008 2:15:22 GMT -5
This sucks. I wish someone discovered them 20-30 years from now when Berisha and his thugs are dead.
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Post by epiroti on Jan 11, 2008 7:13:36 GMT -5
^ I agree. Also, now that the news is out, watch out for a big wooden horse coming in from our southern neighbours.
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Post by kasso on Jan 11, 2008 10:32:04 GMT -5
this news is to good to be true,
moreover, the news sounds more as speculations than true facts
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Post by Emperor AAdmin on Jan 11, 2008 11:36:14 GMT -5
Also, now that the news is out, watch out for a big wooden horse coming in from our southern neighbours. move over, one horse coming through please ( and no it is not a take over attempt but expression of affection) reminder note in good manners, gifts are not to be refused!
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Post by albaniansoul on Jan 11, 2008 11:59:08 GMT -5
This is worth 289.700.000.000 USD AT THE MOMENT AND Only the Oil. AND ONLY THIS PARTICULAR OIL. There is more in other places, found and still unknown.
Also since it will take some probably around 10 years til they start with the shit, hopefully 10 years!
It will be worth, maybe 289.700.000.000+289.700.000.000+289.700.000.000+289.700.000.000+289.700.000.000
By then oil will be much more expensive!
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Post by PrijesDardanian on Jan 11, 2008 13:06:36 GMT -5
An exceptional high-impact exploration opportunity Manas is in the final stage of acquiring two production sharing agreements (PSAs) covering over 3,000 square kilometers in four blocks on the northern flank of Albania's oil rich fold and thrust belt. The agreements, which cover blocks A, B, D and E, have been approved by the National Agency of Natural Resources (AKBN) and now await final ratification by the Energy Ministry. The blocks were previously operated by Shell Exploration and Production, and Corporex. The Manas blocks are located north of shallow high-sulfur heavy oil production with an estimated 2.7 billion barrels of oil in place and cumulative production of 350 million barrels. Critically, recent deep oil discoveries show the deeper sections to contain 30-35 API low sulfur oil at depths below 3,000 to 3,500 meters. The primary exploration targets are sub-thrust fractured carbonate reservoirs similar to those discovered in the 1990s in the Appenines of Italy. During the 1990s Shell and Corporex discovered a deep under-thrust structure, within the blocks which, by their calculations, has the potential to contain a combined 820 million barrels (recoverable) of oil. Manas has this opportunity because Shell and Corporex suspended all exploration activity and abandoned the PSA's in reaction to the extreme unrest in Albania and the conflict in neighboring Kosovo. North and South Tirana Prospect Manas' primary exploration targets are deep (4.0 kilometers), sub-thrust fractured carbonate reservoirs. 2D seismic imaging from the 1990s revealed a large carbonate sub-thrust, extending over blocks B, D and E with two culminations: 1. South Tirana, a prospect at 4,600 m in Block E (analogous to the Cakran oil and gas field); and 2. North Tirana prospect at 3,750, extending onto blocks B, D and E, including the Rinas prospect. These structural prospects indicate recoverable reserves of 260 million barrels in South Tirana and 580 million barrels in the Rinas prospect. Below 5,100 metres, the North and South Tirana prospects merge into a single 170 square kilometre structural closure. In that case, reserves of more than one billion barrels could be present in the Tirana sub thrust anticline. link: www.manaspetroleum.com/s/Albanian.asp?ReportID=175765
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rex362
Senior Moderator
Pellazg
PELASGIANILLYROALBANIAN
Posts: 19,058
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Post by rex362 on Jan 11, 2008 13:11:04 GMT -5
BINGO ! for Albania
just hope it hits the economy and people well instead of lining a few peoples pockets as usual
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Kanaris
Amicus
This just in>>>> Nobody gives a crap!
Posts: 9,589
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Post by Kanaris on Jan 11, 2008 13:54:01 GMT -5
Hope it provides at least 500 thousand jobs..... ;D
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rex362
Senior Moderator
Pellazg
PELASGIANILLYROALBANIAN
Posts: 19,058
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Post by rex362 on Jan 11, 2008 14:00:15 GMT -5
Hope it provides at least 500 thousand jobs..... ;D why... do Greeks wanna come over and apply ....no problem we are usually a Equal opportunity employer.... get in line .... btw ...these same Greeks that will be in line shouldn't of sold their apartments or homes to immigrant albs
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Post by jerryspringer on Jan 11, 2008 14:58:00 GMT -5
It will be worth, maybe 289.700.000.000+289.700.000.000+289.700.000.000+289.700.000.000+289.700.000.000 By then oil will be much more expensive! That's a lot of money; or as Americans say: losing a war. Best of luck, guys. Even if half of your revenue goes to waste in corruption, you'll still get some leftovers.
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Post by meltdown711 on Jan 11, 2008 15:03:26 GMT -5
Its not the horse outside that we should fear, its the Helen inside who will help them...
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Post by fannoli on Jan 11, 2008 15:04:31 GMT -5
this news is to good to be true,
moreover, the news sounds more as speculations than true facts
Out of everybody here i guess only Kassandri's post contains some truth.
Matter of fact is that Albania can only produce 10 000 barrels of oil(5000 by Bankers Petroleum) at the most peak for the moment with our outdated joke facilities that needs a couple of hundred millions of dollars to be up to European standards. The rest of the news is premature and speculation.
Albanian media is full of untruths, bad journalism and speculations. Good for a laugh!!!
Remember the trillian gas project in Fier? Kakome Project? French Masterplan? LOL what do they all have in common? Unrealistic!!! iused to havea lot of faith in some of these projects but not anymore.
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Post by Teuta1975 on Jan 11, 2008 19:27:53 GMT -5
This is a good news. But as F. Noli said, Albanians have lost the faith in their government. And the Governement is not trying to change this opinion....what are they going to do with it, anyway?
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Post by ILIRI I MADH on Jan 12, 2008 0:35:03 GMT -5
It is the foreign media that is reporting this news, and a foreign company that found the oil, and Berisha gave them the right to export it for their own profit. I think Edi Rama should be chosen a president, the only politican that is actually doing something in Albania.
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Post by meltdown711 on Jan 12, 2008 1:02:49 GMT -5
Edi Rama stands a strong chance, but the Socialists need to reform themselves. They have lost territory even in traditionally socialist zones.
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Mimi
Amicus
Kosovo IS Albania!
Posts: 463
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Post by Mimi on Jan 12, 2008 7:41:39 GMT -5
WOW thats GREAT, I am so happy for Albania. i just hope that all of this will be in the hands of the right people , i am keeping my fingers crossed. its looking good for us albanians, the sun is shining on us wooohooo ;D
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Post by Georgios Kastriotis on Jan 12, 2008 7:51:40 GMT -5
America will want this oil for her self & this you can count on, help from the americans never comes free. If there really is any oil?
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Post by albaniansoul on Jan 12, 2008 8:11:35 GMT -5
FanNoli, does it matter? I would rather want this "project" not to start and all other to be honest. We can wait some years til' Berisha and Co is out, and corruption is under control.
We need outside help with that, and not cause we cant handle it. But cuz its roots are to deep and sitting tight.
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alpg
New Member
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Post by alpg on Jan 12, 2008 8:52:20 GMT -5
Independent Resource Evaluation Confirms Existence of Giant Oil and Gas Prospects on Manas Petroleum's Albanian Exploration BlocksManas Petroleum Corporation (MNAP.OB) is pleased to announce the results of a Resource Evaluation prepared by Gustavson Associates LLC regarding Manas Petroleum's blocks A, B,D and E in Albania.BAAR, Switzerland, January 10 /PRNewswire/ -- Manas Petroleum Corporation (MNAP.OB) is pleased to announce the results of a Resource Evaluation prepared by Gustavson Associates LLC regarding Manas Petroleum's blocks A, B,D and E in Albania. The Report considers the licenses 8 primary and recognized prospects identified from approximately 4,000 kilometers of seismic shot by AlbPetrol, Shell, and Coparex on the concession position. Gustavson assigns 2.987 billion barrels with 3.014 trillion cubic feet of associated gas as the P50 prospective oil resources in its oil with associated gas case. Gustavson notes that because of the depth it is possible that the prospects will hold natural gas. In its oil with a gas cap case, Gustavson calculates the prospective resources to total 1.4 billion barrels of light oil and 15 trillion cubic feet of natural gas. Gustavson estimates that in the event of only gas being present the P50 prospective resource is 28 trillion cubic feet of natural gas. Gustavson examined the Manas Albanian license position which consists of Blocks A, B, D & E with a total of approximately 780,000 gross acres located along the NW-SE trending fold belt of northwestern Albania. The plays include potential conventional exploration targets involving sub-thrust hydrocarbon accumulations in fractured carbonates. Gustavson's assessment is limited to the potential undiscovered oil and gas resources underlying the company's licenses. The report notes that: "The primary exploration targets are sub-thrust fractured carbonate reservoirs similar to those discovered in the 1990's in the Apennines of Italy. During the same time Shell and Coparex discovered a deep under-thrust structure within the blocks that, by their calculations, has the potential to contain a combined 820 million barrels (MMBO) recoverable of oil." It states: "Manas has this opportunity because Shell and Coparex suspended all exploration activity and abandoned the blocks in reaction to the extreme unrest in Albania and the conflict in neighboring Kosovo allowing Manas to later acquire these superbly defined, giant, virtually drill ready prospects." In the Gustavson reports closing statement in a discussion regarding the risks and probability of success Gustavson Associates states: "The probability of success for a wildcat well in a structurally complex area such as this is relatively high due to the fact that it is in a structurally favorable area, there exists a proven hydrocarbon source and analogous production exists only 20 to 30 kilometers away." Manas is currently analyzing the Gustavson report and expects to release further details in approximately three weeks. The company is currently preparing a work program which consists of reprocessing seismic, seismic acquisition and processing to be followed by drilling. This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward looking statements. Contact: Manas Petroleum Corporation Bahnhofstr. 9, P.O. Box 155 CH-6341 Baar Phone: +41-44-718-10-30 Fax: +41-44-718-10-39 E-Mail: info@manaspete.com Web: www.manaspete.comManas Petroleum Corporation Contact: Manas Petroleum Corporation, Bahnhofstr. 9, P.O. Box 155, CH-6341 Baar, Phone: +41-44-718-10-30, Fax: +41-44-718-10-39, E-Mail: info@manaspete.com
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