Article

2006-03-15 Caribbean-Latin America

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Posted by lotp 2006-03-15 09:18|| || Front Page|| [2 views since 2007-05-07] Top

#1 Was it in Fox's smile or his hair?

Posted by Cheaderhead 2006-03-15 10:26|| 2006-03-15 10:26|| Front Page Top

#2 Given the oil business is nationalized, how much of the revenue will end up lining the pockets of all the corrupt government office holders, bureaucrats, and 'good o'amigos'? How much will be plowed into infrastructure, education, and health services for the people who in desperation seek 'El Norte'?

Posted by Gloluns Hupeagum6020 2006-03-15 13:46|| 2006-03-15 13:46|| Front Page Top

#3 So, just this week we have announcements of large new reserves in Kuwait, Afghanistan and Mexico. Interesting.

Posted by Iblis">Iblis 2006-03-15 14:39|| 2006-03-15 14:39|| Front Page Top

#4 Causing anxiety in some other parts of the world.

Yup.

Posted by lotp 2006-03-15 14:40|| 2006-03-15 14:40|| Front Page Top

#5 Whoopee! Another new source of corruption!

Posted by borgboy 2006-03-15 14:49|| 2006-03-15 14:49|| Front Page Top

#6 I'm no Texas Geologist, but if you hit a "Presidential fly me out to the platform immediately" crude oil formation at 3,070 feet (which is a pretty shallow well) with a wildcat hole, why take er on down to 13,125 feet? Something ain't just right here.

Posted by Visitor 2006-03-15 14:52|| 2006-03-15 14:52|| Front Page Top

#7 that's how far Hugo's ass puckered.... Goodbye oil hegemony!

Posted by Frank G 2006-03-15 15:04|| 2006-03-15 15:04|| Front Page Top

#8 It's a poorly written article, but my guess is the 3070 feet referred to is the water depth where the well is being drilled and 13,125' is the depth to the bottom of the well. This is consistent with where we have recently made some large discoveries in the US Gulf of Mexico (eg. BP Thunder Horse). This is also consistent with the long lead time (8-10 years) to production - it takes a long time to build stuff to produce oil in that depth of water (though we do it a good bit faster here). Furthermore, the 10 billion barrel number is probably 'optimistic' - ie. 'about the biggest we can imagine fitting into this place' - but the presence of El Presidente still indicates they think it is pretty darn big. My guess - 2 to 4 billion barrels maybe?

Posted by Glenmore">Glenmore 2006-03-15 18:12|| 2006-03-15 18:12|| Front Page Top

#9 BTW, I'm in the business, but know nothing about this discovery specifically. If I did know anything I would not be able to say anything. At all.

Posted by Glenmore">Glenmore 2006-03-15 18:14|| 2006-03-15 18:14|| Front Page Top

#10 Glenmore - So what are you trying to say? lol

Posted by Laurence of the Rats">Laurence of the Rats 2006-03-15 18:44|| 2006-03-15 18:44|| Front Page Top

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