Posted on 07/07/2011 1:00:53 PM PDT by george76
This report is dicey. Oil/Energy ministers are UNIVERSALLY insane when it comes to declaring reserves and production rates.
You can divide this by 3 or 4, double the time to production, and divide the likely production rate quoted by 5.
What a bunch of tommy rot stock pumping action this is. They have not discovered a dang thing yet. They just have undrilled prospects. I wish them luck because to the south are struggling gas fields. I’ve drilled just to the north in Angola and that is about the biggest starved sediment basin I have seen. Thin and stringy sands like the cows on the beach.
California is floating on oil. It even bubbles off the sea floor for all to see. Enviro-nazis have made it impossible to exploit it.
Pelosi blocks offshore drilling vote country wants
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/08/01/MNSH122TA3.DTL&tsp=1
California’s “Global Warming Watchdog” Owns Oil, Coal and Utility Stocks
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