Gas find Venezuela, plus more - emailed to subscribers - Sun, 27 Nov 2005

My oil mate forwarded the following details. You may recall I highlighted last month the fact that Venezuala had found a lot of gas, which the US will take much interest in. Historically speaking, any world leader that has even remotely attempted some sort of land reform or attempted to democratically share the natural resource rent proceeds with his fellow human beings as Chavez is currently doing has never lasted long and was ousted by colonial authorities. Perhaps this could be a world first, but time is against him.

"Chevronís Deltana gas find enough for LNG train
US oil company Chevron has found about 6 tcf of natural gas in block 3 of eastern Venezuela's Deltana platform, enough to warrant the country's first liquefied natural gas (LNG) train, Ali Moshiri, the president of Chevron Latin America Upstream, told. Venezuela's energy and oil minister and state oil firm PdVSA president Rafael Ramirez said that the size of Chevron's Deltana find is closer to 7 tcf, but that even at 6 tcf it is much more than original reserve estimates. Chevron announced in June a "significant" natural gas find on block 3, one of five offshore blocks in Plataforma Deltana, but this is the first time the company has announced the size of the find. The discovery was made at the offshore Macuira 1X exploration well in block 3. The well tested at a rate of 51 mm cfpd of natural gas. The well is located relatively close to and on trend with the Loran gas field in block 2, where Chevron drilled four successful exploration wells in 2004. Chevron operates block 3 with a 100 % stake. PdVSA has an option to back into the block up to 35 % upon declaration of commerciality. Chevron was awarded the license for block 3 in August 2004. Chevron also operates block 2 with a 60 % stake and fellow US company ConocoPhillips has the remaining 40 %. Gulf of Venezuela Chevron was also awarded on September 8 an exploration license for the Cardon III block off the coast of Falcon state in the western Gulf of Venezuela as part of the first stage of the government's Rafael Urdaneta tender. Moshiri said he is eager to start exploration on Cardon III as soon as possible. Under the license conditions, Chevron is required to invest $ 10 mm in the first stage. "Venezuela is very important for the world in terms of energy security. The Gulf of Venezuela has enough gas reserves [for commercial production], that's why it was so easy for us to decide about participating," Moshiri said. Chevron already has offices in Maracaibo, the capital of oil-rich Zulia state bordering with Falcon state, but it could open another office with 20-30 people to deal with the Gulf of Venezuela exploration, Moshiri said. Venezuela's tax authority Seniat is currently investigating Chevron and about 20 other foreign companies operating in the country for alleged tax evasion. Seniat even seized computers containing financial information from Chevron's Zulia office in August." Source: BNamericas

Also, Here is a link for Venezuelan oil industry.

I am told there is a film around town that shows Chavez's view of prospects of Bush invasion, though i have not yet seen it.

Western mainstream press reporting is so poor now, (and probably controlled by relevant spy agencies) that it is worth getting the news from as many other sources as possible to try and balance out all the bias, which applies equally to the following source too of course:

there is a lot in this actually, those interested in conspiracy theory (as I am) might find the rest of the links at the site most interesting.

You may recall I forwarded a link about 9/11 - a video - last month. I have managed to trace the sources for that video to the following two books:

/9/11 revealed: The Unanswered Questions/, Rowland Morgan and Ian Henshall /The New Pearl Harbor: Disturbing Questions about the Bush Administration and 9/11/, by David Ray Griffin. Let me tell you, if you want an incredible (and disturbing) read, take a look. The books assert a couple of things that I have found subsequently to be doubtful, but they make nevertheless some very pointed remarks. As usual, one has to decide for oneself.

If you are interested in how the US manufactured obl, try the book /Ghost Wars:The Secret History of the CIA, Afghanistan and Bin Laden/, by Steve Coll. Impeccable sources from the writer, current Managing Editor of the Washington Post, and winner of the 2005 Pullitzer Prize.

To some thoughts on longer term trading, and how to combine all your knowledge:
see notes on mah. That is how you learn, by studying, then you have to apply it to current situations. You should have seen a lot of emails in the past about how important that mid point of the extremes is, and how you can trade into it.

hwg, reliable pattern there for a retrace back to the mid point - you should have seen that before in other stocks over recent years - so any move into new highs is bullish

See also llc -which will now move back to its mid point of the extreme high and low.

To other matters:
Germany marked this week the 60th anniversay of the Nov 20th 1945 commencement of the Nuremburg trials. See how the time cycle / time circle turns.

The New York Times reports a craze going on in Moscow's restaurant bathrooms in a city awash with oil money: to create the city's most elaborate and ornate. Competing thus far in several restaurants: gold plated toilets, padded leather interiors, urinals with the most spectacular skyline view.... Always towards the top. Meanwhile 40 million Russians live without indoor plumbing.

I noted the following couple of things just out of interest:

  • The World Trade buildings in New York, building one was completed in 1972, building two in 1973, marking the top of the real estate cycle by the way, but both buildings began to take tenants in 1970. A mid point of these dates puts the buildings pretty close to 30 years old when they fell. (controlled implosion ?)

  • You know already that the terrorist bombs in Madrid followed 30 months after the 9/11 attack. But did anyone bother to work out the exact diference in a day count ? 911 days to be exact. (Sept 11 2001 - March 11 2004 - Mar 11 the 912th day forward) Someone has a sense of timing there to be sure...or was it just complete coincidence.

I leave you to ponder that one, as I have since the day it happened.

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