Comments on: How Raul Castro Can Help You Strike a Gusher http://www.contrarianprofits.com/articles/how-raul-castro-can-help-you-strike-a-gusher/13442 Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Thu, 19 Nov 2009 15:59:58 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: jorge Pinon http://www.contrarianprofits.com/articles/how-raul-castro-can-help-you-strike-a-gusher/13442/comment-page-1#comment-13761 jorge Pinon Fri, 13 Feb 2009 16:56:30 +0000 http://www.contrarianprofits.com/?p=13442#comment-13761 3-Repsol has only drilled one exploratory well in Cuba on July 2004. CUPET Rafael Tenreyro’s comments of 20 billion of recoverable reserves are not based on any geological and or seismic process. Also “recoverable” reserves are only certified after considerable exploratory drilling. No independent third party has seen and or validated any data to determine Cuba’s 20 billion barrels of “probable” and or “undiscovered” reserves, much less “proven” and or “recoverable” reserves. By the way Chevron is going to be the operator of the recently discovered USGS Buckskin project…not Repsol…as we say in the industry…exploration is a science…production is an art. Jorge Piñon 3-Repsol has only drilled one exploratory well in Cuba on July 2004. CUPET Rafael Tenreyro’s comments of 20 billion of recoverable reserves are not based on any geological and or seismic process. Also “recoverable” reserves are only certified after considerable exploratory drilling. No independent third party has seen and or validated any data to determine Cuba’s 20 billion barrels of “probable” and or “undiscovered” reserves, much less “proven” and or “recoverable” reserves.
By the way Chevron is going to be the operator of the recently discovered USGS Buckskin project…not Repsol…as we say in the industry…exploration is a science…production is an art.

Jorge Piñon

]]> By: Jorge Pinon http://www.contrarianprofits.com/articles/how-raul-castro-can-help-you-strike-a-gusher/13442/comment-page-1#comment-13760 Jorge Pinon Fri, 13 Feb 2009 16:55:56 +0000 http://www.contrarianprofits.com/?p=13442#comment-13760 1- The only international companies that “for years now to pump crude oil ( 32 mbd working interest) from offshore rigs” are Canadian companies Sherritt and Pebercan. Also there has never been any crude oil production “from offshore rigs” in Cuba. All producing wells are drilled from shore using directional drilling techniques to tap coastal reservoirs. Also there are no Central American and or Middle Eastern companies operating in Cuba; no country in Central America even has a national oil company, and China only has an onshore –Block 3- concession which is currently inactive. 2-“The latest effort” by Repsol was in July of 2004 when it drilled Yamagua #1, an exploratory well in which no commercial quantities of hydrocarbons were found. Jorge Pinon 1- The only international companies that “for years now to pump crude oil ( 32 mbd working interest) from offshore rigs” are Canadian companies Sherritt and Pebercan. Also there has never been any crude oil production “from offshore rigs” in Cuba. All producing wells are drilled from shore using directional drilling techniques to tap coastal reservoirs. Also there are no Central American and or Middle Eastern companies operating in Cuba; no country in Central America even has a national oil company, and China only has an onshore –Block 3- concession which is currently inactive.
2-“The latest effort” by Repsol was in July of 2004 when it drilled Yamagua #1, an exploratory well in which no commercial quantities of hydrocarbons were found.

Jorge Pinon

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