Noble CEO: Gas Found off Israel Coast is "A Game Changer"

OK, now I'm willing to go out on a limb here and speculate that based on the words of Noble Energy CEO at the Credit Suisse Energy Summit in Vail, Colorado yesterday, they are already aware that this gas find off of the Israeli Coast is far, far larger then what they are letting on. And what they are letting on is already pretty big. People don't use words like "game changer" or "historic moment" unless they know something. Right now, the public reports are that the find will provide Israel with at least 15 years of energy independence. That's big, but not a total "game changer". A Game Changer would be enough Energy to supply Israel and export to Europe for the foreseeable future for hard currency. That would be a game changer, and my guess is that we are talking closer to the latter rather than the former.

"This is a game changer for the country of Israel; it's a game changer for our partners," Davidson said at the Credit Suisse Energy Summit in Vail, Colorado, on Wednesday. "There will be a lot more news coming out of Israel in the next coming months."

Noble CEO Charles Davidson.

Just look at that face in the photo. Is that not a face that every girl would love to take home to Mom? What's not to trust?

Now when he says "a lot more news" that's not just a hint, that's an admission that he knows things and is not at liberty to talk about it. You don't even have to read between the lines to get it. News? Game changer? Historic moment? Sounds to me like Israel is in for a huge bonanza. Let's see what happens.

Flashback from January 18th: "This is one of the most significant prospects that we have ever tested and appears to be the largest discovery in the company's history," Charles Davidson, Noble's chief executive, said in a statement.

"Early indications are that the resources identified are very substantial, at least equal to our pre-drill estimated gross mean resources of over three trillion cubic feet. Subject to the collection of additional data, the resource estimate for Tamar could further increase," he said.

Notice the words "at least" and "could further increase". My guess is, and this is admittedly based on extrapolating from the words of Nobles CEO and not based in actual knowledge, that this find is indeed a "game changer" as described by Davidson (who unlike me, does have actual knowladge). I wonder if Israel will be accepted as a member of OPEC after it becomes an Energy exporting country? HA! Talk about a world turned upside down! The professional Israel-haters (read 'Jew haters') must be squirming. Just the rich irony and entertainment value of all this is almost worth as much as the gas itself.

More Quotes:

"It could solve the country's gas problems for many years and generations to come. We now won't be dependent on others for gas, and we'll even be able to make exports."
Yitzhak Tshuva, owner of Delek Group, a partner in the enterprise.

"We are witnessing an historic moment in Israel's energy market. If it turns out in a few weeks that the indicators received in recent days are true, then we are talking about the biggest find in Israel's history."
Israel's National Infrastructure Minister Binyamin Ben Eliezer.