more in energyreview, page-21

extract from energy review article dated 1/11/05
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The Philippines is a growing consumer of energy, offering a ready market for any discoveries, Balce said.

"We have a well established gas market, which means that even small oil and gas discoveries can be commercial ? we don't expect stranded gas," he said.

David Whitby, managing director of Nido Petroleum, which expects to begin production from its Galoc oil development in early 2007, said Nido was looking at the blocks with a view to tendering.

A court ruling in February that established security of tenure for mineral rights had also benefited the oil and gas industry, Whitby said.

"Prior to the February court ruling very few work blocks were awarded," Whitby said.

"Since February they have awarded 11, so the activity has very much been upgraded significantly as a result of the Supreme Court ruling over land tenure, which had always been a bit of a black cloud over investment."