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Bethel finance news:
Noble Energy Inc. (NYSE: NBL) will probably publish the preliminary results from its exploratory well at Block 12 in Cypriot waters by Friday. Market sources believe that the reservoir has at least eight trillion cubic feet (TCF) of natural gas, making it larger than the Tamar field.
Noble Energy's partner in Tamar, Leviathan, Yam Tethys and other fields, Delek Group Ltd. (TASE: DLEKG), is a partner in Block 12, since the Cypriot government approved its option to 30% of the concession.
Noble Energy will probably begin production tests at the well site in February 2012. Cypriot website "Philenews" reports that Block 12 has 8-13 TCF, but the report is unsubstantiated and its credibility cannot be verified.
Last month, Noble Energy said that the 3D seismic survey of Block 12 found 3-9 TCF, with a fairly high geologic probability of success of 60%, less than previous estimates of 10 TCF.
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