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Cuba oil dreams on hold as drill rig set to depart

Associated Press Modified: November 14, 2012 at 12:16 am •  Published: November 13, 2012

HAVANA (AP) — Cuban officials confirm that the only platform in existence that can drill in deep waters off the island's west is preparing to sail away after three exploratory wells drilled this year struck out.

The Scarabeo-9's imminent departure is a disappointment for the government, and analysts say it means dreams of a big find will be on hold indefinitely.

In the words of Jorge Pinon (HOHR'-yay peen-YAHN'), a Latin America oil expert at the University of Texas: "Bottom line: This chapter is finished. Close the book, put it on the shelf ... But do not discard. Maybe there is a good ending to this story ... someday."