Lundin Oil (LOILY, LOILB Sweden) Message Board

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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)

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To: Tomas who wrote (771)	10/14/1998 1:46:00 PM
From: Oily1	Read Replies (4) of 2742

What clap-trap these newspapers turn out. The people who publish these things couldn't even change the oil in their car engine, let alone have any idea of what the offshore drilling industry is about. What's happening in the North Falklands Basin at the moment is what's known as the 'play' - getting all the information to make the find, (logging results, core samples etc). A classic example which springs to mind is the Beryl oil field in the North Sea. This field was discovered after drilling one successful exploration well - it was necessary to drill 18 more holes, NINE of which were dry, to delineate the field and establish the best method of developing it so that it could produce oil. It has been estimated that for every exploration well in the North Sea which found oil or gas in commercial quantities, there were 14 dry holes. I think that the newspapers who print this c**p should try and stick to the shares they think they know more about - like building societies and banks, even then your average chimpanzee would know more.

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