Posted on 10/04/2006 11:10:33 AM PDT by ScaniaBoy
Oil has been discovered in the Dead Sea area, Dr. Eli Tenenbaum, an official from Genco, the national company responsible for drilling in the region, reported on Wednesday. Tenenbaum stated that the amount of oil could reach commercial levels.
"We noticed that the pressure in the area was very high and when we opened the tap, oil started flowing freely for several minutes," Tenenbaum told Channel 10.
Tenenbaum said that the workers washed their hands with the "black gold" when they made the discovery. "We hope it was the first of many [such discoveries]," he added excitedly.
Not far from the drilling site, the crew spotted an oil reserve that Tenenbaum described as "very attractive," which they believed contained between four and six million barrels, worth an estimated 300 million dollars.
The operation began 10 years ago but was put on hold since it was not deemed economically viable. However, due to the recent soaring oil prices the discovery of new oil sources became necessary.
Genco was drilling at a depth of 2000 meters.
Infrastructure Minister Binyamin Ben Eliezer said it was "just the beginning" and that is was vital to find out whether the oil field was commercially viable or not.
"It is an encouraging sign," he said. "We are checking the entire area and we are opening the whole region for drilling. We will give our full support to any company that wants to try."
Genco is Egypt owned?
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I thought Genco was owned by Vito Corleone and his partners?
I only noticed on the link provided above that "Egypt" was next to the Genco name.
Im not sure what that means really, it was an assumption.
This is straight out of Joel Rosenberg's first novel.
That's what I thought... I thought Genco was the Olive Oil company/business front for the Corleone Crime Family..
They have some offshore gas wells and i believe there is some oil production there also. Looking at the amount of oil discussed in the article I fail to see what all the excitement on this thread is about. We're talking about less than 10 million barrels and that's chicken feed.
I'm in the middle of it now. It's the first Rosenberg book I'm reading. I'll have to go back and read the earlier books in the series.
Tom Clancy meets Left Behind. :-)
"Will Israel grow increasingly prosperous, even as Russia and Iran steadily build an alliance against her, as Ezekiel suggests? (In my first novel, The Last Jihad—published in 2002—Israel fictionally discovers massive tracts of oil and natural gas, making the Jewish State enormously prosperous and planting seeds of greed and envy in Russia, Iran, and the Islamic world. Since then, two petroleum companies in Israel have, in fact, discovered large tracts of oil. One found a field with some 980 million barrels of proven reserves. The challenge both companies face is finding a commercially viable way to extract the oil and get it to market. I recently met with three top oil executives working on these projects and will write more about this developing story soon.)
If true, I wonder at what price per barrel extracting those 980 M becomes viable.
http://www.leftbehind.com/channelbooks.asp?pageid=1249&channelID=219
Well, I ain't going to go work those wells, if they exist!
Okay, maybe with a $2500/day rate.
Btw...when I heard Rosenburg on Hannity he said he was working on a new book now...can't wait.
bump
I believe it's The Copper Scroll and it's out now. It's described as the latest in the series.
Shoot, with all those "seeps" in the Dead Sea, they BETTER get these rigs moving quickly or "somebody" is gonna face a heck of an EPA fine for pollution.
Besides, I have been working on a plan to change the weather - we are going to fill the dead see back up. Rove told us to.
They are not a scam. In fact, they have re-established credibility after all the real scam artists left (I know all of them). I have met Mr. Brown and his Geologist, and their data is real. It doesn't mean that they will be successful-but it is legitimate geology. Having been in the business for 3 decades, I know a phony oil deal when I see one, and this is not one.
i heard/read the same thing. I am trying hard to remember who it was that said it.
Dang, I forgot to put (C) after my post, again.
thanks. i'm tempted to buy the minimum 100 shares ($7 each) just for the heck of it. it would be great if they were successful.
The jewish people themselves are the treasure of israel. They've been in business for just 60 years as a state now, but look at all they have accomplished : reforestation, irrigation, inventions, symphony orchestras, strong military, nobel prizes, the list goes on and on. Compared to the arabs in the same region, they are light years ahead. Oil wealth in arab hands gets squandered on playboy things, not economic development; oil wealth in israeli hands will be put to good use. If and when russia/china/arabs invade israel, it will mostly be because of jealosy, these people are BETTER at solving life's problems, AND they are a thriving democracy : when 2 jews get together to discuss politics, already 3 new political parties are formed...
Thank you for this -- and don't forget the latest Nobel Prize winner (married to an Israeli)
Oil in Israel - and at the new year - could be a nice fate sealed for the year ahead.
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