My view on this Eastern Med gas/oil fields.
(1) The fields are prolific and huge basins that can change the regions economic power structure from some now controlling nations to the hands of others.
(2) This is a geo-political event and should not be taken lightly.
(3) Quote: Henry Kissinger Mid 1970's..."If you control the oil, you control nations." (another quote) "Energy is the governor which controls the world economy. It has more value than any currency, yet brings value to the currency in trade".
Currently petro still trades by the US Dollar, the oil futures market represent 25% to 30% of the cost of oil, and it is controlled entirely by Wall Street since it's inception. The world economic goals of the US were, and still are aligned to keep the dollar as the only oil trade currency. There are powerful groups of nations that want to change this, and moves are taking place to do so allowing nations to trade oil with other currency. Refer back to the Kissinger quote to understand who holds the keys. The Euro for many reason's of social debt spending is in a crisis, along with inflation, high tax rates, and poor investment decisions into derivative markets....still remains a viable trade currency. Oil/Gas, et all energy to begin trading in Euro's will add massive value to the strength of the Euro. This is a negative for the US, and a new beginning for the European nations. Trading oil in Euro's allows a bailout of debt to take place for Cyprus, and Greece from the other nations who took a punch in their "economic face" to keep them afloat. EU Banks, and the wealth of EU nations all benefit from oil trading in Euro's, and the dilemma is their longstanding alliance with the US, NATO, in support of regional military control. This oil will be developed, who's money controls it is another question.......I think the Euro will win.
There are those that believe Cyprus will strike a long term deal with participating EU country's for a financial bailout, leveraging the gas/oil assets that Cyprus holds for many years out. It's the only real asset they have to trade off for sustaining revenue, other than that you would be throwing bailout money down a deep hole and the EU banks have had enough of that already. Real wealth is world commodity assets, the Euro is on thin ice, and Cyprus is barely treading water looking for someone to throw them a life vest. Someone is going to make a deal over long term rights and production from those assets.....mark my words. What major oil/gas giants will play into the bailout striking a deal with EU countries? Could NBL get squeezed out for just a small piece, or taken in as an operating partner with a larger piece of the pie? This split puts many more shares outstanding. If a deal takes place, field development will step up dramatically, ASAP to deliver end products.
I see a prolific opportunity for the LNG side of the equation as an investment.