Greg Noval interviewGreg Noval did an interview with Larry Stout of CTV Newsnet. These are the key points he made:
1. The initial test well on the Marquis project will be completely financed by El Paso at a cost of about 30 million.
2. El Paso will get 50 % of the project for their investment
3. The same terms apply to the Mariner play, but he made it sound like it's El Paso's option to drill
4. There looking and hoping for reserves in the several TCF range
5. Drilling will begin by the end of June with one of the largest offshore rigs in the world
6. El Paso is proposing to build a 1.8 billion pipeline that will take gas to New York. They want Canadian Superior to anchor this pipeline.
7. El Paso is starting the surveying for this pipeline in the next few weeks.
If you want to see this interview you may still be able to catch it since they usually repeat them on weekends.