It seems that the forthcoming drilling may only be several hundred meters from GGX oil, gas exploration boundary.....on the western side of the island of Cebu.
GGX propery boundary extends offshore a little....between the two townships, where Japex has advised Government officals, that drilling will take place.
Japex has annual revenues of A$1.7 billion:
Japan Petroleum Exploration Co., Ltd. (JAPEX) is a leading Japanese upstream company engaged in oil and natural gas E&P activities both in Japan and overseas. Its main operating areas are Hokkaido, Akita, Yamagata and Niigata in Japan, and Canada, Indonesia, China, the Philippines, Libya, and other regions where it has overseas interests. JAPEX was founded in December 1955 as a special purpose company through a government initiative and has continued to explore and produce oil and natural gas in Japan and expand its activities overseas. JAPEX was once incorporated into the former Japan Petroleum Development Corporation (JPDC) as its E&P operating body from 1967 to 1970. Subsequently, JAPEX was separated and established in April 1970 as a private company under the former Commercial Code. JAPEX listed on the First Section of the Tokyo Stock Exchange in December 2003. Since its foundation, JAPEX has conducted integrated operations extending from oil and gas E&P through transportation and supply. JAPEX is continuing to work on increasing its reserves, expanding its natural gas supply network and other aspects of its operations as it aims for growth as a competitive player in the market.
_______________________________________________ Guv pushes 'safe exploration' at Tañon Strait By Edmund B. Sestoso
NEGROS Oriental Governor Emilio Macias II has pushed the so-called "safe exploration" of Tañon Strait.
The governor stated his position after representatives from Japex headed by Shigehiro Moriya and Senen Lazaro, together with Department of Energy field officers Antonio Labios and Andres Pangilinan, informed him that the drilling activity is in the shores between Pinamungahan and Alunginsan of Cebu Island. _____________________________________________
Other links that I have....confirm the above location as close to the shoreline, near these coastal towns. A major oil discover here, by this major Japan and Kuiwait oil company could easily put 50 cents onto the GGX shareprice.
GGX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
(20min delay)
