GEORGETOWN HERALD
GUIANA EXPLORATION TO DRILL FOR OIL
GUIANA EXPLORATION TO DRILL FOR OIL
Guiana Exploration (GuiEx), a division of Paxton Energy, Inc., is currently focusing on oil exploration at several identified locations to start onshore drilling operations. GuiEx says it has chosen at least three exploratory wells “based on technical merit and access considerations.” The identified sites are across the 800,000-acre Berbice Block and Paxton Energy is schedule to begin the onshore drilling operations in Berbice in the next quarter of this year.
Paxton Energy is very optimistic about finding oil in the Berbice Block after reporting encouraging results from “very good quality seismic data” obtained in the feasibility programme it completed in May. In addition, a new geometrical analysis has concluded that, based on fluorescence, potential oil in the Berbice Block itself is “likely significantly lighter than in expected.” This suggests that the Berbice Block contains much more recoverable oil reserves than was previously projected.
“We are excited about this opportunity because of the positive geo-chem analysis and the recent seismic programme,” Paxton Energy's President John Paxton said yesterday.
But Mr. Paxton cautioned that as no large petroleum reservoirs have yet been discovered in this part of Guiana, “the risk of finding commercial deposits of petroleum remains high.”
There is also reports that the company has been exploring to offshore sites as well. Though until futher tests are made, estimates of the offshore zone remains uncertain, preliminary test shows that the zones may contain reserves of at least 1.2 billion barrels of oil.
ARGICULTURAL REPORTS RELEASED
The Ministry of Agriculture today has released a report indicating that agricultural production of food crops is up an average of 37% across the board with the largest gains being sugarcane (+63%), rice (57%), wheat (+51%), soy beans (+49%) with the production of cash crops such as coffee, cocoa, cotton and tobacco all being up over 55%.
In addition, beef, pork, poultry dairy products are also all up an average of 23% while fishing industry has reported a 29% increase on all catches with a 25% increase in the shrimp harvest.
Officials have indicated that new investors, new equipment, the losening of restriction and the opening of more land for cultivation and grazing may should even make future growth even greater.
AMAILA FALLS HYDROELECTRIC FACILITIES COMPLETED
Today, the full potential of the Amaila Falls Hydroelectric Dam has been realized as the fourth and final phase of the project has been completed. At 12:00 PM today the 4TH Phase generators will come on-line bringing the full 1060 MW to the national grid. Operated by Guiana Power & Light, the project, costing £2.4 billion and seven years to complete, has been surprisingly done within budget and on schedule.
STELLA MUDD ASSUMES DUTIES AS AMBASSADOR TO EDF
Stella Mudd will arrive in Nurnberg today to assumes her duties as Guiana's Ambassador to the EDF.