Tindalo could redraw oil map; 2 ecozone executives murdered

The surprising flow rate of the Tindalo-1 oil well off northwest Palawan will likely redraw the Philippine oil map. Tindalo-1 flowed a maximum 18,689 barrels of oil per day last week, the most by any well drilled in the Philippines since the Nido find in 1976.

Nido Petroleum Ltd. of Australia was expecting the Tindalo well to produce oil at a rate of 7,000 to 15,000 barrels per day on a series of tests. The well, instead, pumped over 18,000 barrels on natural flow, meaning it gushed oil without the use of an installed electric submersible pump to provide an artificial lift.

Previous commercial oil wells drilled in the Philippines, from Nido to Cadlao, Matinloc and Linapacan, did not flow over 10,000 barrels a day during production tests. Pushing the well above their natural flow risks water intrusion, which could be disastrous as proven in the Nido oil field of the 70’s and 80’s. (British Petroleum’s leaking well off the coast of the Gulf of Mexico was producing just 5,000 barrels before the rig explosion.)

The unexpected results from the Tindalo well, meanwhile, will prompt operator Nido Petroleum to review the field’s estimated oil reserves. The Australian company earlier assessed the potential reserves at around 5.1 million barrels but Tindalo could be sitting on a much larger deposit.

Oil exploration companies with service contracts around offshore northwest Palawan will be excited to learn of the Tindalo’s oil flow results. Tindalo has rekindled the prospect of finding the real mother lode in the area.

Says Nido Petroleum president Emmanuel J.V. de Dios: “Tindalo is only one of several discoveries in Nido’s shallow water acreage [basin] which have the potential to become significant cash generators. Moreover, with the results generated from Tindalo, the prospect of a success at the Gindara prospect which lies just outboard of this trend makes us even keener to commence the exploration drilling campaign.”

Tragic deaths

Two prominent businessmen met tragic deaths in just a span of three weeks. Their deaths and the circumstances leading to the ghastly crimes were buried in newspaper reports because the police and beat reporters were apparently not aware of their status in the business circle.

Newspapers simply reported on May 19 that police arrested a teenage couple after stabbing dead a taxi driver in San Juan City on the night of May 17 this year. Police said Mohammad Ali Baropi and his girlfriend, Claire Gallego, both 18, admitted killing Emmanuel Moran Jr., 57. The young couple claimed that Moran, the “taxi driver,” started molesting Gallego (who was seated beside Moran), prompting Baropi to pull out a fan knife and attacked the driver.

A roving security guard, according to the police, discovered the bloodied Moran inside a Nissan X-Trail parked along Eisenhower street in Greenhills at about 11 p.m. of May 17.

Jun Moran, however, is no taxi driver. He was the president of Poro Point Industrial Corp., the joint venture partner of Bases Conversion Development Authority in developing the Poro Point seaport and industrial zone in San Fernando, La Union province.

Moran was a feisty executive and had challenged BCDA president and retired Gen. Narciso Abaya to deliver 80 hectares of land that were supposed to be turned over to the joint venture in order to transform Poro Point into an economic hub for Northern Luzon.

Over in Pampanga, meanwhile, businessmen are mourning the death of Richard Olalia last week. Newspapers and community papers initially identified Olalia as an ordinary trader. Manila Standard’s Pampanga correspondent Jess Malabanan later found out that Olalia was an incumbent director of the Cagayan Export Zone Authority.

Olalia, 59, and his daughter Franie, 27, both residents of Greenville Subdivision in Barangay San Agustin in Angeles City, were on board a Mercedes Benz when two unidentified armed men, riding on a motorcycle along Lazatin Boulevard, fired on them.

Olalia and his daughter were taken to the San Fernando Hospital for treatment. The older Olalia died later while undergoing treatment due to multiple gunshots in the body.

Ceza officials and employees described Olalia as a nice and quiet person with no enemies. Olalia, through his company Forerunner International, was one of the pioneers in the used imported car business at Port Irene, Cagayan province.

E-mail: rayenano@yahoo.com or business@manilastandardtoday.com