Cyprus Minister of Commerce, Industry and Tourism Praxoula Antoniadou has confirmed that preliminary results of natural gas exploration from Block 12 (EEZ) hopefully will come during Christmas.

Nobel Energy company which doing exploration work estimated the gross resources at 3-10 trillion cubic feet (tcf) with a 60% probability of geologic success.

Antoniadou said that Nobel energy has reached up to the desired depth and assessment checks are being carried out. The drilling started in September and Antoniadou admitted that because of petty problems the results are delayed by a week. She further added that around Christmas we would be in a position to say something concrete.

 Antoniadou said that Cyprus government is fulfilling the formalities to get the license for second round of drilling. There will be some improvements in contract.