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| Israel-Palestine-Jordan |
| Shimshon well tests at 40million cu ft/day |
| 2012-08-02 |
| The Shimshon well off the coast of Israel was flowing at a rate of 40.2 million cubic feet a day at the end of a 54-hour test, Isramco Negev 2 LP (ISRAL), which has a 39 percent stake, said today in a statement. ATP is the well operator with a 40 percent interest. Isramco reported July 1 the field may hold 2.3 trillion cubic feet of gas. It will take a few months to tie this well into the existing system for delivery and execute the sale contracts but with Europe currently paying exorbitant prices (about $14 per thousand cu ft wholesale) the selling ought to go quickly and ultimately help both Israel, ATP(which is having finance stress because of the Obama Admin Gulf drilling ban) and Europe. The loser will be Russia which will lose some customers. |
| Posted by:lord garth |