“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)
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Monday, March 05, 2007

Inpex to spend $1.7 billion a year on oil and gas fields

Hector Forster and Akira Matsui / Bloomberg / 2007-03-05 12:49

Tokyo, March 5, 2007 (Bloomberg) - Inpex Holdings Inc., Japan's largest oil explorer, said it will spend more than 200 billion yen (US$1.7 billion) annually to search and develop oil and gas fields over the next three to four years.

The annual investment will include developing Indonesian gas fields, Chairman Kunihiko Matsuo, 71, said in an interview at the company's Tokyo headquarters.

Inpex Holdings was created by Inpex Corp.'s acquisition of Teikoku Oil Co. last year.

Inpex is developing gas deposits in the Mahakam Delta in Indonesia's East Kalimantan province alongside French partner Total SA, to supply the Bon-tang liquefied natural gas plant that exports the fuel to Japan.

Inpex and Total are also involved in the Ichthys LNG project in Western Australia, which is scheduled to begin construction in 2009 and start operating in 2012.

"Investment is required for raising gas production from the Mahakam Delta to feed Bon-tang," Matsuo said Wednesday. "Spending will top 200 billion yen annually an d is expected to rise further in future with the development of projects in Australia and elsewhere."

Inpex may be able to finance the exploration and development costs without having to raise borrowings or sell new shares, said Lalita Gupta, an analyst at Morgan Stanley in Tokyo.

"Operating cash flow is forecast at about 250 billion yen in fiscal 2008 and 280 billion yen in fiscal 2009, so they will be able to finance internally," said Gupta, who has an "equal weight/cautious" rating on Inpex shares. "They could also use project finance depending on the case."

Inpex and Total have equal shares in the so-called production sharing contract in East Kalimantan, entitling them to 30 percent of revenue left after recovering costs, while the government gets 70 percent.

The fields, including Tunu and Peciko, in the drilling area have about 13 trillion cubic feet of reserves left after pumping 10 trillion cubic feet since starting up in the 1980s.

The remaining gas will allow production to continue for another 25 years, provided there's an adequate return on the investment, Philippe Ar-mand, president of Total's Indonesian unit, said on Dec. 19. Inpex is spending more than $80 million this year drilling four appraisal wells in the Abadi field in southern Indonesia from April.

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