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Jul 11, 2013

The Maranco oil show, a no show?

Joy Grant

Soccer is not the only topic in tonight’s news, but there is another national issue that has held the collective breaths of a great portion of our working population, the National Trade Union Congress of Belize and the Belize National Teachers Union. The salary adjustments required by the B.N.T.U. is tied to the petroleum industry. On April second 2013, Maranco Energy announced that it had found an encouraging oil show at its site in the Gallon Jug Area in the Orange Walk district. Now, more than three months later there has been nothing new to report except technical site problems which continue to bedevil the exploration company, while leaving no leeway for a determination of whether there is oil in commercial quantities. Today, Minister of Energy Joy Grant addressed the situation.

 

Joy Grant, Minister of Energy

“I was very clear at first to say that we have to wait on the results and I feel terrible to say that we have to wait on the results. And I feel terrible to say yes we are still waiting. However, when a company has spent an amount of money—upwards of ten million dollars—and they are still determined to do the additional studies, I think we all should feel that there is still potential. And as long as there is still potential and they are working on it, I am satisfied that we are doing everything that we can do as a government. The company took out some core samples and they have sent it abroad and there is still hope that there may be oil in commercial quantities. So we still have to be patient, this is a really…this process is long and because some of the tests cannot be done locally, it makes it even longer but we are still cautiously optimistic that there still may be something up north here in this area with Maranco.”

 

Mike Rudon

“I wanted to ask you for a time frame, but basically there is no…”

 

Joy Grant

“There is no timeframe because I tried before…I said in maybe two months we would hear. And that time has passed and in a way it is out of our hands and out of their hands. They sent this to the labs abroad and then we wait for the results and then when the results come, base on what we hear, the company decides whether it will go further or not. So everything is like a phased approach. but all I can say to the Belizean people is that we are still cautiously optimistic and even though they have not heard from us, the operations continue to determine whether there is oil in commercial quantities.”

 

There are other companies currently exploring for oil, but none has announced an encouraging oil show. 

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2 Responses for “The Maranco oil show, a no show?”

  1. Dumb Guy says:

    Please keep saying there is no oil. The teachers don’t deserve a raise. My son has about 8 workbooks from school and only about 10 pages total out of these workbooks have been worked in. That means a grade of less than 1% for the teachers. ABSOLUTELY OUTRAGEOUS. And these are the fun books with pictures and all. I say fire and rehire.

  2. Initiate says:

    These “tests abroad” are beginning to appear to be smoke screens!! its a test of a total different nature than weather there is oil or no oil.

    I feel if everything was truly straight up here, there would have been a resolution LONG TIME AGO!

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