Ben Nevis Oil Prospect Stirring Hibernia Link Debate
Mobil Oil Canada resists hype over the Ben Nevis well off Newfoundland while industry sources hint it could match or exceed the Hibernia discovery. Early drilling at 3,250 metres probes two wells on adjacent structures with potential pay zones 150 to 250 metres thick. Analysts suggest a reservoir up to 10 billion barrels, though offshore development costs and political factors loom large.
MENTIONED IN THIS ARTICLE
Calgary
Mobil Oil Canada Ltd
Ben Nevis
Newfoundland
Canada
Mobil Canada
Nevis
Mobil Corp
New York Stock Exchange
Mobil Oil Canada
Chevron Standard Ltd
Grand Banks
Chevron
Hibernia
Mobil
Hibernia-Ben Nevis
Dory Little
Gulf Canada Resources Inc
Petro-Canada
Columbia Gas Development of Canada Ltd
Gulf Canada Ltd
Toronto Stock Exchange
Israel Rejects UN Resolution on settlements
In Jerusalem the Knesset voted 52 to 37 to reject the United Nations Security Council resolution condemning Jewish settlements in occupied Arab lands. Prime Minister Begin said Israel would not cooperate with a UN committee and warned against a Palestinian state, calling the demand barbaric and hostile to Israel. He noted U.S. abstention provoked anger at home.
MENTIONED IN THIS ARTICLE
Jerusalem
Knesset
United Nations Security Council
Menachem Begin
Israel
Begin
Lebanon
Security Council
River
Jordan
Arab East Jerusalem
United Nations
United States
Carter
U.S
Camp David
Northern Territories division rejected in landmark report
A Ottawa report by C M Bud Drury rejects splitting the Northwest Territories to resolve conflicts among white residents Inuit non status Indians and status Indians. It urges a special territorial body to study division and seek resident referendum while transferring key federal powers like health justice labor and land management to territorial control. Settlement of land claims is cited as essential for harmony with 80 percent of North residents affected.
MENTIONED IN THIS ARTICLE
Ottawa
C.M
Bud) Drury
Northwest Territories
Territories
Pierre Trudeau
Drury
N.W.T
North
Jean Chretien
Nkomo Joins Mugabe Coalition in Zimbabwe Victory
Joshua Nkomo accepted Mugabe’s offer to form a coalition giving the new parliament a 3 to 1 majority. Nkomo will be non executive president, while talks with Ian Smith aim to include white minority voices. ZimbabweAfr. union won 57 seats, Patriotic Front 20, Muzorewa 3, white seats 20. Military progress noted as peace rises and integration of guerrillas proceeds.
MENTIONED IN THIS ARTICLE
Smith
Rhodesia
Britain
Mugabe
Zimbabwe African National Union
Executive National Assembly
Zimbabwe
Nkomo
Patriotic Front
Abel Muzorewa
Rhodesian Front
London
Leftists free Austrian ambassador amid Colombia embassy siege
Austrian Ambassador Edgar Selzer, held by Colombian leftist guerrillas since February 27, was released at 7:30 a.m. and flown by Red Cross to an undisclosed location. About two dozen hostages remain, including U.S. Ambassador Diego Asencio. Negotiations for safe passage and prisoner releases continue as talks resume.
MENTIONED IN THIS ARTICLE
Bogota
Edgar Selzer
Selzer
U.S
Diego Asencio
Red Cross
Colombia
Europe
Algeria
Syria
Libya
Midle East
Ramiro Zambrano
Camilo Jimenez
Ricardo Galan
Pakistan rejects 400 million US aid for defense
Pakistan rejects U S offers of 200 million in military and 200 million in economic aid over two years calling the package peanuts. Agha Shahi says Pakistan will rely on national unity and China friendship and cannot depend on any single power. The plan drew Indian protests and U S officials declined to comment.
MENTIONED IN THIS ARTICLE
Islambad
Pakistan
U.S
Afghanistan
China
Agha Shahi
Mohammed Zia ul-Haq
American Congress
Carter
Zia
Shahi
CMHC Faces Losses From High Risk Loans Report Says
A Canadian study led by Donald Matthews says the Canada Mortgage and Housing Corp. runs at high losses with tens of millions wasted yearly due to loan rates and processing costs. The report forecasts 28 000 real estate holdings rising toward 40 000 by June and urges a shift to private sector mortgage insurance and altered housing programs. It notes rising defaults threaten the mortgage insurance fund and calls for administrative reforms.
MENTIONED IN THIS ARTICLE
Steve Kerstetter
Ottawa
Canada Mortgage and Housing Corp
CMHC
Also Mentioned on This Page
Ont
Iran Council
By Doug Long
Tehran
Iranian Revolutionary Council
UN Investigating Commission
Commission
Revolutionary Council
Ahmad Khomeini
Ayatollah
Ruhollah Khomeini
Khomeini
Bani Sadr
John Acland
Commonwealth
Salisbury
U.S. Congress
Donald Matthews
London, Ont
Federal Conservative Party
Clark
Matthews
Federal Public Service
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