Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Tomas who wrote (56127)	12/6/1999 7:34:00 AM
From: kormac	Respond to of 95453

Tomas, thanks for the article. I have been looking for more articles along this line. Matthew R. Simmonds has been stressing the importance of depletion in all of his recent speeches. Very few giant fields are being discovered (3 or 4 after 1969) and fields such as Kuwait's Burgan (2nd largest in the world and discovered in 1948) has begun to decline. North Sea is going to produce its maximum next year, and production will decline after that. He calls the new reality as a "treadmill", as fields are operated in "blowoff depletion" mode. with my best, Seppo