GALOC CRUDE OIL in the PHILIPPINES

Wow cool News.....................GALOC our HOPES?

Are we proud that our country Philippines has a reservoir in Crude Oil? Is it a good news or not?I don't think it is a good news because our government made different contracts to different company to find oil in Palawan.I don't know if I am happy, but I am hoping that this billion dollars of crude oil will alleviate the poverty. If other countries will interfere on this resources that we have and the government allow it to happen, Im sure the scarcity that we are experiencing will be doubled.I hope that this new discovery of millions of gallons of oil on Galoc oil field in Palawan can suffice to our economy. I cannot imagine that our product will be sold to other countries and then it will return to us tripled?

According to Ermita, “The President is optimistic that this new development will positively impact on the administration's efforts to reduce the country's annual oil importation of US $6 billion, and in turn will also contain the increasing cost of food and other commodities"I hope that this statement brings us hope.
I just pray that this new discovery bring us to prosperity.

First for Philippines
- Sandstone reservoir development in the Philippines
- Development utilizing multiple horizontal wells
- Offshore oil field development in Philippine waters in the last 15 years