Gas2Grid Ltd. reported Thursday that it has just received written approval from the Philippine Department of Energy (DOE) to commence the Malolos-1 extended oil production in the Philippines.
The operations will commence as soon as the crew and equipment have been mobilized to the site with likely initial oil production commencing in April. This testing is being carried out in order to confirm the commerciality of the Malolos Oil Field. The DOE had previously extended Service Contract 44 (SC 44) for a 12 month period starting Jan. 29 in order to conduct the tests.
The extended oil production testing program aims to gather sufficient technical information to confirm commerciality of the Malolos Oil Field to justify the Department of Energy awarding a 25 year production period leading to full field appraisal and development. Proving commercial production at Malolos Oil Field will have a very significant impact on the value of the Company and will benefit the Philippine economy.
On Jan. 29 the Company reported a “Contingent Resource” of oil in the two productive sandstones for the Malolos Oil Field between a “Low Estimate” (1C) of 6.8 million barrels and a “High Estimate” (3C) of 68.1 million barrels, with a “Best Estimate” (2C) of 20.4 million barrels of “Total Oil Initially in Place”. This Contingent Resource is in addition to the Unrisked Prospective Resources released to the ASX on Jan. 29. The large size of contingent and prospective resources justifies further exploration within SC 44.
In that respect, the Company is continuing discussions with interested parties for funding the complete appraisal and development work (seismic acquisition, production well drilling and production facilities) at the Malolos Oil Field and additional exploration prospects by a farmout of part of its 100 percent interest in Service Contract 44. In view of the time frame available to the Company for SC 44, it will also consider sole funding some of the work early should farmin terms and agreements take undue time to finalize. The Company is funding the extended oil production testing from existing cash reserves which were raised last year.
Ministers from some of the world’s largest fishing powers, including the EU, the US, Japan, Indonesia and the Philippines recently gathered at a high-level international conference in Greece, where they reiterated commitments to reduce global fishing capacity and to ensure accurate information on fishing is readily available, including through the creation of a global record of vessels . The conference was organized in Thessaloniki by the European Commission under the auspices of the Greek presidency of the European Union. The conference declaration, which also aims at improving data collection to assess stocks and fishing capacity, was signed by several countries including the EU, the United States, Japan, Colombia and Indonesia.
However, Greenpeace warned that it is high time for governments to turn words into effective action to ensure a healthy future for fisheries and fishermen around the world. Similar commitments have been made already years ago, but have not necessarily tuned into effective action. In June 1999, the FAO adopted the International Plan of Action (IPOA) for the Management of Fishing Capacity, whose immediate objective was for “States and regional fisheries organizations, to achieve world-wide preferably by 2003, but not later than 2005, an efficient, equitable and transparent management of fishing capacity”. A number of other global instruments and conferences have emphasized the same call, but global fishing capacity has continued to expand regardless.
Excessive fishing capacity drives overfishing and illegal fishing, displaces coastalcommunities, causing environmental harm and making fishing fleets economically unviable. The EU fishing fleet, for example, is able to catch two to three times more fish than is sustainable in most fisheries.
“Across Southeast Asia, many fishing grounds are already either depleted or currently being overfished. The capacity of the fishing fleets— specifically the larger commercial vessels— are decimating the marine resources to the detriment of coastal communities,” said Mark Dia, Regional Oceans Campaigner for Greenpeace Southeast Asia.
“Governments in Southeast Asia should take the lead in this global effort to restore the health of our seas by managing the ability of their own fleets to fish, in line with the state of fish stocks. These countries must also ensure that they develop their fishing capacity in a way that is sustainable, benefit their coastal communities and is based on low-impact gears and best available practices,” added Dia.Greenpeace wants the Philippines, Thailand and Indonesia to start by scrapping the largest and most destructive industrial fishing vessels, initiating a shift towards small-scale low-impact fishing, which is more environmentally sustainable and creates jobs to supports local communities.
The Philippines has had their exemption to commercial purse seine tuna fishing access in the high seas pockets in the Pacific extended again at the last Western and CentralPacific Commission Meeting in Australia last December.
“The Bureau of Fisheries and Aquatic Resources has admitted that we have nearly finished up all the tuna in our waters and this is the reason why we now need to send the commercial fleets all the way to the Pacific high seas,” added Dia. “If we only took care of our own resources and fishing grounds, then there will be more than enough fish to feed our people. We must reverse the current trend of overfishing in the Philippines and around the world. Better management of fishing capacity is critical and long overdue.”
For more information:Mark Dia, Regional Oceans Campaigner, +63917- 8430549, firstname.lastname@example.org. Virginia Llorin, Media Campaiger, +63917-8228793, email@example.com
by: Erick San Juan
THE surprise U-turn of US President Barack Obama in attacking Syria over the weekend should be taken with a grain of salt, why is this so? As I have said before (in my writings and in my daily radio program) that a world war (or a regional conflict) is inevitable because of one, economic and two, to unite the citizenry of both the US and China against a perceived outside enemy to avoid domestic violence. And such war/conflict can be delayed but unfortunately will push through as planned by the ‘chosen few.’
As what was reported from various online sources that President Obama had made a second decision: to seek the approval of Congress before launching any strikes. The president said he had listened to members of Congress who had expressed a desire for their voices to be heard, and that he agreed. Although we have to be wary because “Obama insisted the delay did not have any tactical consequences. His most senior military advisor had told him an attack would be “effective tomorrow, or next week, or one month from now.” (The Guardian online 9/1/13) Meaning the attack will happen in the near future. #OpinYon #Syria#opinion
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photo source: kernelpanicx.deviantart.com
- Obama asks Congress to delay Syria vote (bigpondnews.com)
- Obama Makes Case For Action Against Syria (640whlo.com)
- Obama Faces Strong Anti-War Mood in Congress (voanews.com)
- Could President Obama Be Indicted for War Crimes Over Syria Attack? (foxnewsinsider.com)
- The People Say No to War with Syria, Says Sheldon Richman (reason.com)
- Kuwait ruler presses Obama on Guantanamo detainees (star-telegram.com)
- The Long, Withdrawing Roar (freebeacon.com)
- Obama: Not sure I’ll order Syria strike without Congress (usnews.nbcnews.com)
- Putin Puts International Law Before War (canadafreepress.com)