I don’t believe a word of this. The U.S. Continental oil reserves are at or near bone dry. I have talked to people in the oil exploration industry and they tell me there is very little cheap oil left.
Who said this was cheap? It takes significant horizontal drilling and fracturing, and the completions are not simple.
That be Goober down at Wally's?
That is essentially true but this isn’t cheap. Well costs are $7,000,000.