reply to post by WoodEye
one came from BP
New Gulf find
but may take 10 years to develop...
By far the most exciting news went almost unnoticed by all
Massive Oil Deposit Could Increase US reserves by 10x
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has
largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times,
giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply
irrelevant.
In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation
that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion
barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in
1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed
because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel.
That story here
Now if that isn't enough there was this recent find
Scientists Discover (Biggest Ever) Oil field off U.S. coast....Scientists from Cornell University have discovered a massive amount of Oil off the
coast of Louisiana.The find is some 60 billion barrels or 3 Times more than current US recoverable Oil of 20 Billion barrels, and would bring US total
reserves to 80 billion barrels which is on par with Venezuela. In comparison to other finds around the world, this is twice the size of all Oil ever
found in the North Sea and 6 times larger than the estimates of the Alaskan ANWR oil deposits
Read about that one here
There are others on a smaller scale Calf just reported the biggest new on shore find in the last 35 years... Closer to home it looks like their
finally going to allow drilling up on Archuleta Mesa another huge but so far untouched field.... Its out there but no one want to go get it with so
much cheap OPEC oil
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