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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: t4texas who wrote (6326)	1/29/2002 8:35:21 PM
From: kormac	Read Replies (1) \| Respond to of 206110

t4texas I believe that 15 years ago there were 14 fields that produced more than million barrels per day. This kind of production comes from only 2 perhaps 3 fields. The south end of the largest field Ghawar, is now taking water. Two of the four of Iran's supergiants are in secondary recovery and both of Abu Dhabi's are on the verge. Venezuela's fields are the oldest ones in OPEC. These statements come from Samsam Bakhtiari's (same man as is quoted on slide 21) article in the Jan. 14, 2002 in OGJ. The title of his article is "Birth of New World Energy Order" and he mentioned that WWIII has started. My own view that US will invade Iraq already this year, install a friendly government there which will give access to western oil companies. Iraqi's have suffered long enough under Saddam and the rest of the world, while at first might condemn US action, will in private let out a sigh of relief. best, Seppo P.S. In 1970 the depletion rate of gas wells in GOM was 17 percent during the second year of production; today it is just over 50 percent. The gas situation is going to change soon and the indications are already there.