Noble CEO: Gas Find off Israeli Coast is 61% Larger Than Initially Estimated

As I predicted a few days ago on this site, the CEO of Noble Energy is now willing to reveal that the Gas find off of the Israeli coast is 60% larger than initially announced. All indications are that when everything is said and done, it will be even much larger than that. While the media are focusing on the Israeli election results, and Hamas, and all the other usual stuff, the real news out of the Middle East is happening right under our noses. A real game changer is happening right now and will be felt three years from now in a big way.

Noble Energy Inc. said its Tamar natural-gas discovery off the coast of Israel is probably 61 percent larger than initially estimated when announced last month. Tamar’s potential is 5 trillion cubic feet, based on initial flow testing, Houston-based Noble Energy said today in a statement. Flow rate from the well was 30 million cubic feet per day, limited by the testing equipment, and production may reach 150 million cubic feet a day, the company said.... CEO Davidson also said: “The implications of this discovery to Israel cannot be overstated.”

Israel radio quotes geologists who confirm that the massive find greatly increases the likelihood that additional gas will be found in the vicinity and that drilling in at additional nearby locations are now underway.