posted on Jan, 16 2011 @ 09:15 PM
Seems this has been in the works since at least last September:
The deepest exploration drilling off South Australia's south-east coast that has ever been seen was endorsed overnight to begin construction in
January as part of a multi-million dollar project.
President Petroleum will drill a three kilometre deep well outside Port MacDonnell in the hope of finding rich oil and gas deposits.
The 43-metre rig will have a live-in staff of 40 and will begin drilling in February.
The company's exploration manager, Griff Weste, says the site will run non-stop for almost a month-and-a-half.
"The rig is presently working up in Moomba in the far north-east of the state and these are highly specialised workers," he said.
"This is a high risk business, high risk, high reward. Usually the rates of success are one in 10 but I think it's better than that here."
edit to add: Who is President Petroleum? A subsidiary of BP or are there more than one company drilling there?
Here's some info about their Directors & Senior Management: www.presidentpc.com...
edit on 16-1-2011 by heffo7 because: add comment
edit on 16-1-2011 by heffo7 because: (no reason given)
on 16-1-2011 by heffo7 because: (no reason given)