Honduras looking to explore La Mosquitia area

Jun 16, 1999 02:00 AM

Honduras' congressional energy & fuels commission will present a formal request to the Environment & Renewable Resources Secretariat to promote oil exploration activities in the La Mosquitia area, in Gracias a Dios department, representative Jack Arevalo said.
US-based oil companies conducted exploration activities in La Mosquitia in 1957 and some reserves were found, Arevalo added.
The wells are kept under strict guard, but results were never disclosed.
Arevalo speculated that the US firms must have found abundant reserves and are waiting to act when their reserves elsewhere are depleted to produce the Honduran oil. "We only know the wells were plugged and are kept under watch," he added.
The congressman said that Honduras counts with sedimentary basins just as Guatemala and Costa Rica, which apparently are connected with Venezuelan sedimentary basins.

Source: BNA via Iinoil
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