RE: CNE uses TID, more NEWS to come
Sure congrats to the technical staff of TID !
As I said, you all need to read carefully the latest 9 MONTH report of CNE ended March 2012....if so, you will see that there are still more imminent GAME-CHANGER news to come by the end of Sep, early October. I quote from the report:
1) The JV in Brazil . CNE is already in talks.
2) The JV in Guyana. CNE is already in talks. I quote for both:
"Brazil and Guyana
Brazil REC-T-170 (operator, 100% working interest)
Guyana Takutu PPL (operator, 70% working interest)
In the second half of calendar 2012, the Corporation plans to drill one exploration well at REC-T-170 in the Reconcavo basin, Brazil. With the recent move into Ecuador, both Brazil and Guyana are considered non-core for the Corporation. The Corporation is in advanced negotiations with a potential partner to farm-out 50% of its 100% operated working interest in the REC-T-170 block, with the transaction anticipated to close prior to the end of the third quarter 2012. The Corporation also plans to farm-out all or part of its working interest in the Takutu PPL in 2012 and is currently reviewing bids from interested parties."
3) The sale of its interests in 3 non core blocks so CNE can invest heavily on its core PROVEN and PRODUCING blocks. I quote:
"The Corporation plans to dispose of part or all of its working interests in the Caño Los Totumos, LLA 10, and Morochito E&P contracts, along with its interest in the Entrerrios production contract, which are all considered immaterial to its portfolio. The Corporation anticipates disposing of the assets by the end of calendar third quarter of 2012".
As you see, CNE talks for the end of the calendar 3rd quarter of 2012.