positive exclusive news hotcopper special, page-4

captain salty....yes good questions.

I recall also reading, sometime ago - about the possibility of a second drill....however the drill rig has left Tanon Straigt waters.

They sound confident enough to maybe commence production from the site of this initial drill.....one way or another. Why not have the production facility on the Cebu mainland, to mostly overcome all the environment concerns -just means a new drill from Cebu into the hydrocarbon show, which is just offshoOre. Likely they would encounter oil on the GGX block....on route to deposits discovered as a result of this drill.

Upside here is hard to quantify.....it is exciting and really could be anything. This is greenfield stuff.....likely a new oil provence....(not my works, but that of the Japex General Mgr - he said there is plenty of oil in the Tanon Straight.

With regard to a dealine......the two senior managers from Japex meet with the Dept of Energy and the Cebu Island authorities....presented as much info as they could. Not to sure any deadline as been set. I mean if you are on-site for 3 months, running stem test....would have a fair idea of oil flow or not.


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From GGX.....maybe we now have vindication, as a result of the Japex drill. Likely high share price upside with this stock.


The onshore region of Cebu Island is highly prospective with surface seeps of oil, and oil and gas occurrences recorded in many wells. However, very little modern exploration has taken place in the last two decades. A 2002 study by the Norwegian aid agency NORAD concluded that the undiscovered, risked potential of hydrocarbons in the Philippines as a whole is an estimated 9 billion barrels of oil equivalent and further reported that the country has excellent potential for significant discoveries.
In addition to Malolos, Gas2Grid has identified some 9 leads in licence SC44, one of which was drilled in 1961 and was reported to have flared gas. The directors believe there to be excellent potential for further discoveries.