I believe that whole scenario happens constantly on a massive scale in the oceans. Millions of tons of plankton and fish die and fall to the bottom and tons of pressure, maybe geothermal temperature and marine anerobic organisms do their magic and create the black ooze.
One of our resident oil men explained to me why they call oil a fossil fuel: because of the marine micro-fossils they find in their drillings where they find a pocket.
Most of the known production areas are former seabeds, and many still are. Additionally, any underground caverns or porosity may allow the petroleum to travel miles to locations under dry land, forced by the tons of water pressure of the depths.
I even wrote a song about it.
“I even wrote a song about it.”
Ah, so you’re the one that wrote one of my favorite songs, “Under the Sea” from the Little Mermaid :-)
Deep inside the earth exist pressure and heat we cannot imagine nor appreaciate.
Yes, oil, and many other things, are created and move around in a continuos loop.