Haitian Earthquake May Lead To Discovery Of Oil And Gas

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From Bloomberg

The earthquake that killed more than 150,000 people in Haiti this month may have left clues to petroleum reservoirs that could aid economic recovery in the Western Hemisphere’s poorest nation, a geologist said.

The Jan. 12 earthquake was on a fault line that passes near potential gas reserves, said Stephen Pierce, a geologist who worked in the region for 30 years for companies including the former Mobil Corp. The quake may have cracked rock formations along the fault, allowing gas or oil to temporarily seep toward the surface, he said yesterday in a telephone interview.

“A geologist, callous as it may seem, tracing that fault zone from Port-au-Prince to the border looking for gas and oil seeps, may find a structure that hasn’t been drilled,” said Pierce, exploration manager at Zion Oil & Gas Inc., a Dallas- based company that’s drilling in Israel. “A discovery could significantly improve the country’s economy and stimulate further exploration.”

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