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On January 12th we told you about an article appearing in the Belfast Telegraph, an Irish newspaper. It disclosed previously unheard of details of Belize's oil industry as presented by Susan Morrice – a principal shareholder in Belize natural Energy. Most notable among the many revelations was that the Never Delay Oil Field had been declared commercial – as far back as November fifth, 2009! So why was nothing said by the Government of Belize? What was interpreted to be official secrecy only fed latent suspicions and misgivings that the government and people of Belize were being systematically deprived of the proceeds from this non renewable resource.

But today the Director of the Department to Petroleum and Geology Andre Cho told us that – more or less – it's all a misunderstanding. He explained that the Never Delay #1 oil well was drilled in early 2008 and BNE appraised the discovery over 18 months – leading them to declare it commercial in November of 2009. Well, we knew that part...but Cho added that government has not signed off on its commerciality because an Environmental Impact Assessment is still in the works.

Cho discussed this and other aspects of the Never Delay Oil Field.

Andre Cho, Director of Petroleum and Geology
"I know people think we're keeping it secret, it is a conspiracy. It is not a conspiracy. They submitted a notice to us declaring the field commercial on November 5th and along with the notice a development plan for the development of the field. They also completed an EIA for the development of the field because that is required and right now that EIA is under review by the NEAC and what's left for us to do in regards to the declaration is for BNE and the Government to sign a Declaration of Commerciality and to agree on the field boundary. Once that is signed, we will put out an official announcement. I know Susan Morrice has already declared that in the Irish media but that was a bit premature but I can't speak on her behalf."

Jules Vasquez,
"What is the status with the level of extraction from Never Delay?"

Andre Cho,
"Well there is no extraction at Never Delay right now because like I said the EIA is still under review. It has to be approved and then once BNE has received approval from the Department of the Environment then they can proceed with the development of the field and production. So right now the two existing wells, they are not producing anything.

In regards to the reserves, the reserves is only about five million recoverable oil and each well, both Never Delay 1 and Never Delay 2, will produce 35 barrels a day compared to the Spanish Lookout Field which has proven recoverable reserves of 14 million and about 4,200 of production per day."

Jules Vasquez,
"So if a comparison is made, the oil field at Never Delay hardly compares to Spanish Lookout."

Andre Cho,
"Yeah it is about one third the size."

The plan is that the oil from Never Delay would be channeled to a central storage facility where all the oil would be collected. That's possible because the oil at never delay is the same type as the one at Spanish Lookout – light sweet crude.

There's much more from out interview with Cho in tomorrow; newscast as he discusses the total cash yield so far which has grossed $296,002,684.00 in oil revenue that have at Spanish Lookout since 2006. He'll also discuss oil prospects in Gallon Jug and Calla Creek.