Qdog\other oil expert, As an oil expert, does the question below make sense to you? What does "41 gravity oil" mean? Would appreciate your input. Happy New Year! Sycamore
The Big Question:
"<< If the liquid that is leaking from the capped wells is 41 gravity oil, how could there still be a chance that there is NO oil? >>"
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Downloaded onto AOL by Kkalan from Yahoo
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Subj: Proven reserves
By: legalbuy
Date: Jan 1 1998 6:37 P.M PST
Reply To: Msg. 378 by oilweevil
Excuse me for asking, but in your last post you said:
<<" The russians had a blowout on one of AIPN's structures some time ago when they were operator. While this not a slam dunk, it is a good sign. Be cautioned that a lot of water wells in the Gulf of Mexico have kicked (controlled blowout). Water wells also make huge messes because there is usually some oil associated with the water.
1a. The upcoming seismic news release will not tell anyone if oil is present. What it will tell is the possibility of the existence of a hydrocarbon bearing structure, trapping mechanisms, size, etc. Nothing will be told about presence or lack of hydrocarbons. The only thing that will tell you if oil is there is an electric log across the pay zone. You can't get one of those unless you drill it.">>>>
Now I am getting confused. First of all, I am not an oil expert and have no oil industry exeperience. I am just a securities attorney would like to learn as much about this industry as possible. My question
is, George Faris in the August investor meeting in NY with the Kazak partners in the MSUP concession, told everyone that 2 of the
capped wells that previously blew out and are still leaking 41 gravity oil (one in Begesh and the other in Chikuduk. he even brought samples of the oil to the meeting. In October, I flew out to Kazakhstan and was taken to 17 wells that were drilled and I obverved first hand the oil seeping out the wells. I took a bottle and collected samples of the oil and had it analyzed by a lab on my return trip to NY and found that the oil was indeed 41 gravity oil, with less than 1% sulphur. Not knowing anything about how the industry works, I assumed that that is proof that oil does exist and it infact is "proven".
Water wasn't leaking from the capped well, 41 gravity oil was.
Now, given your statement above, those wells were drilled by the Soviets, how on Earth can there still be a remote possibility that there is no oil but a great big water well, if the oil thats leaking is 41 gravity?
Please tell me what is wrong with my thinking. If the liquid that is leaking from the capped wells is 41 gravity oil, how could there still be a chance that there is NO oil?
I am condfused!
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