Archive for August 11th, 2008

Costa Rica to Expand its Sea Sovereignty

August 11th, 2008 by Carolyn Ramer

Costa Rican authorities have until May 13, 2009 to ratify the country’s sea jurisdiction before the United Nations Convention on the Law of the Sea (UNCLOS).

This will allow for Costa Rica to increase its ocean territory up to 10 times of its current 200 nautical miles from the coast.  The action will not only increase Costa Rica’s territorial size, but will also translate into billions of dollars in marine resources.

The ocean floor has methane hydrogen which is used as an energy source.  According to Guillermo Quiros, a local physics oceanographer, the amount of methane hydrogen located in Costa Rica’s ocean floor can provide for over 350 years of energy.

In addition to this great source of energy, authorities are also counting on the vast marine resources located along the Cocos range.  Experts calculate that an approximate 100,000 yellow fin tuna fish can be obtained yearly at this region.  This will translate to a yearly income of about $250 million in just tuna fishing.

The opportunity of being able to come before the UN to ratify Costa Rica’s ocean dominion was sparked by the questions regarding the future of Costa Rica’s commercial exclusivity once the CAFTA came into action.

The Costa Rican congress unanimously approved the proposal and has sent an urgent petition before the Executive power to present the ratification before the deadline.


Category: National Parks | 1 Comment »

Oriens Applies to Pink Sheets to Publish Its Financials

August 11th, 2008 by Carolyn Ramer

Las Vegas, Nv. August 8, 2008  — Oriens Travel & Hotel Management Corp., an emerging Travel and Hotel Management Company operating online travel booking site 128 Trip and hotel management subsidiary Hotel PURE  representing over 25 hotels in Costa Rica and Nicaragua to date, is pleased to report it has completed its application to Pink Sheets to publish its financial statements according to regulatory bodies’ requirements.

In order to provide more transparency of Oriens’ corporate progresses to its shareholders, the company has recently completed its application to Pink Sheets financial quotation service web site (http://www.Pinksheets.com) in order to adequately publish its financial statements and corporate progresses according to the regulatory bodies’ requirements. This is the first step of the process of becoming a fully reporting issuer so that shareholders can expect to be updated regularly on its financial statements and progresses. The unaudited financial statements will be published on the Pink Sheets financial quotation web site as soon as Oriens has received the authorization to do so, which is expected to be completed within the next two or three weeks


Category: Economy | No Comments »