.: Move over Middle East, Here comes Albania and her Oil discovery!

Monday, January 14, 2008

Move over Middle East, Here comes Albania and her Oil discovery!

BIRN: 10 January 2008 Tirana -- Vast and untouched reserves of oil and gas have been discovered in northern Albania, one of Central Asia's and Eastern Europe's leading petroleum corporations announced Thursday.

The report was compiled by Gustavson Associates LLC on behalf of Manas Petroleum Corporation, which has been awarded a contact by the Albanian government to explore the north of the country for oil and gas reserves.According to their findings, the unproven reserve holds up to 2.987 billion barrels of oil and 3.014 trillion cubic feet of natural gas.

However if the oil is capped with a layer of gas, Gustavson calculates the field to total 1.4 billion barrels of light oil and 15 trillion cubic feet of natural gas. And in the event that only gas is present, the reserve is expected to contain 28 trillion cubic feet of natural gas.

The Balkans region has proven oil reserves totalling approximately 345 million barrels. Of that, 198 million barrels is located in Albania . Proven natural gas reserves in the Balkans region add up to approximately 2.7 trillion cubic feet.

Under the licence awarded to Manas Petroleum Corporation, the company is allowed to explore oil and gas reserves in an area approximately 780,000 acres in size, located along a geological fold in north-western Albania.

'The probability of success for a wildcat well in a structurally complex area such as this, is relatively high due to the fact that there exists a proven hydrocarbon source and analogous production exists only 20 to 30 km away,' notes Gustavson in the report.

Manas is currently still analysing the findings and will make further announcements on its next steps in the coming weeks.

The corporation is an important player in the development of Albania's terrestrial oil and gas reserves.

In December 2007, Albania's Council of Ministers agreed to allow DWM Petroleum AG, a subsidiary of Manas, to assist in the exploration, development and production of Albania's land-based hydrocarbon reserves in conjunction with the government's Agency of Natural Resources.

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New York Times article published May 21, 1911

"ALBANIAN JOAN OF ARC: Handsome Heroine Takes Father's Place and Vanquishes Turks" – Cetinja, May 21, 1911 - A young girl, whose first name corresponds to that of the given name of the Maid of Orleans, is now being sung in the songs of the Montenegrin bards in the inns and coffee houses in Podgorica. When at the battle of Vranje last week, her father, the hereditary commander of his clan, fell, she immediately stepped to his place and led the Martinajs to victory against the Turks. Aside from the romantic phase of the affair, for Janitza Martinaj (Tringa e Grudes) is very beautiful, the battle is important as showing that the Montenegrins on the frontier had joined with the Albanians. According to a person who is well acquainted with her, this new Joan of Arc is “a tall, handsome, well-developed young woman. All the Albanian women are brave, and are trained from their girlhood to the use of firearms, and in times of war, as there are no mules, they carry the provisions and ammunition for their soldiers and go into the firing line to distribute them.” “And are sometimes killed?” “Yes, often that happens.” Janitza would probably have carried a Martini rifle; or, as many of the Marininis were collected last year by the Turks, her weapon may perhaps have been one of the old-fashioned Albanian rifles, which are handsomely decorated with silver and have very long, narrow barrels. Shooting is almost the only amusement of the young men and women in Albania. Both boys and girls learn to shoot when they are 12 years old. At weddings the parties amuse themselves by dancing and shooting: at christenings shootings is again the principal amusement – firing at large targets for some little prize – and at festivals there is shooting all day long. It’s one of the great difficulties that Turks have to contend with, for it is part of the national life; the people use their rifles by day and sleep with them by their side by night. The custom has grown up with the prevailing insecurity from vendettas at home and border troubles abroad. Physically, the Albanians are the finest race in Europe. Their women are handsome, with dark hair, though their eyes are sometimes gray. To see them walk is a delight. We like to see the ballet in Servia. The first time I saw the Albanians walk it gave me just the same pleasure. Their movements are so graceful, elegance and strength together. Yes, they are a very fine and very gifted race. They are like the Scots in the 17th century, and they will be by and by the finest race, intellectually as well as physically, in the Balkans. If you go to Constantinople you will find that many of the finest men, not only soldiers but also statesmen are Albanians. Their fault, due to their present degree of civilization, is that they cannot grasp the idea of State. The clan is their highest organization; they are unable to see the importance of combining the clan with the higher organization of making a state. But that will come.

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Monday, January 14, 2008

Move over Middle East, Here comes Albania and her Oil discovery!

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