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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Sri Lanka strikes gas with oil potential: Cairn

Sri Lanka strikes gas with oil potential: Cairn

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CSE.SAS

CSE.SAS
Global Moderator
Cairn Lanka (Pvt) Ltd, a unit of Cairn India Limited said a natural gas deposit with liquid hydrocarbon potential has been found in its oil drilling program off Sri Lanka's northwest coast.

Cairn Lanka bought the first of three oil exploration blocks off the coast of Mannar.

"Further drilling will be required to establish the commerciality of this discovery," Cairn Lanka said in a statement.

Cairn said its data indicated the presence of a 24 meter hydrocarbon column between the depth of 3048 to 3038 meters.

The data indicated it to be "predominantly gas bearing with some additional liquid hydrocarbon potential," the firm said.

Sri Lanka's President Mahinda Rajapaksa announced the find earlier in the day at a speech in Kandy in central Sri Lanka.

Sri Lanka first started looking for oil in the 1970s.

http://lbo.lk/fullstory.php?nid=1175143771

bePositive

bePositive
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
It is a significant discovery. Let's hope and pray that it will be commercially viable to continue to drill for more oil.

http://www.viabletraffic.com

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics

Can we find significant oil next? Will be major boost for the economy. Sri Lanka will be a highlight /

But hope the foriegn powers who are not that interest in Sri Lanka now ( only interested in screwing SL up) will not have philanthropic interest then Wink

ashoka1966

ashoka1966
Senior Equity Analytic
Senior Equity Analytic
Ohhh…My god !!!!
Will we have to face the same problems of countries……. which are gifted with natural gas and oil such as…..Iraq,Sudan ,Libiya…..etc..in the future from west alliance led by USA,UK,France..etc.???????????????????
affraid affraid affraid affraid affraid affraid

Soundchips


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
If there is gas and confirmed potential of descovring petrolium below that is real. by 2012 Sri Lanka may see some real benifits. they explain that predominantly gas bearing with some additional liquid hydrocarbon potential is found in the area. next couple of years would be very attractive for SL.

wsaman

wsaman
Manager - Equity Analytics
Manager - Equity Analytics
@ashoka1966 wrote:Ohhh…My god !!!!
Will we have to face the same problems of countries……. which are gifted with natural gas and oil such as…..Iraq,Sudan ,Libiya…..etc..in the future from west alliance led by USA,UK,France..etc.???????????????????
affraid affraid affraid affraid affraid affraid

Dont worry bro....
Saudi is a richest country with oil...But they are a very good friend of USA. Not only Saudi. There are many gulf countries,they are very good friends with USA lead west countries..

Some times Sri Lanka too in near future.... Very Happy Very Happy

ashoka1966

ashoka1966
Senior Equity Analytic
Senior Equity Analytic
@wsaman wrote: Dont worry bro....
Saudi is a richest country with oil...But they are a very good friend of USA. Not only Saudi. There are many gulf countries,they are very good friends with USA lead west countries..

Some times Sri Lanka too in near future.... Very Happy Very Happy

No ….No… bro…
In good old days …Gadafy was a good friend of US.
Not only Gadafy….., Sadam Hussain …even …Osama Bin Laden were good friends of US.
Shocked

WildBear


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@ashoka1966 wrote:
@wsaman wrote: Dont worry bro....
Saudi is a richest country with oil...But they are a very good friend of USA. Not only Saudi. There are many gulf countries,they are very good friends with USA lead west countries..

Some times Sri Lanka too in near future.... Very Happy Very Happy

No ….No… bro…
In good old days …Gadafy was a good friend of US.
Not only Gadafy….., Sadam Hussain …even …Osama Bin Laden were good friends of US.
Shocked

Sri Lanka oil exploration is led by India,Russia,China: they are the next super powers of the world, and 21 st Century Belongs to ASIA. US and Europe are perishing Razz Razz
That's why those western countries screaming about Human Rights, mind you, Vladamir Putin is planning reentering as Russian President, Which is USA's worst nightmare

Backstage

Backstage
Moderator
Moderator
Haleys has a foot in the door in terms of logistical support. DP must be licking his lips at the sell of the gas.

hilux


Stock Trader
would this have an impact on power sector?

sapumal


Vice President - Equity Analytics
Vice President - Equity Analytics
@ashoka1966 wrote:Ohhh…My god !!!!
Will we have to face the same problems of countries……. which are gifted with natural gas and oil such as…..Iraq,Sudan ,Libiya…..etc..in the future from west alliance led by USA,UK,France..etc.???????????????????
affraid affraid affraid affraid affraid affraid

I think today's downturn is totally due to this. A possible military attack to SL from USA,England, France . Weapon shares of those countries are rising , Miracle of Antarctica ... LOLZ

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