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

To: Tomas who wrote (19842)	3/6/2003 7:28:59 PM
From: Broken_Clock	Respond to of 206093

Tomas Check the chart OSX vs. Storage withdrawals Notice that huge triangle forming ib the OSX while withdrawals have approached all time lows?

To: Tomas who wrote (19842)	3/6/2003 11:34:59 PM
From: Tomas	Read Replies (1) \| Respond to of 206093

North Sea on slippery slope - UK players spending more to produce less Dark times ahead: unit costs in the North Sea look set to jump 20% Upstream, March 6 Producers in Britain will have to wage an uphill struggle to prolong waning output in the UK North Sea for another 40 years, the UK Offshore Operators Association (UKOOA) said in its annual review today. "The current North Sea performance trend is not sustainable because industry is spending more to produce less," said Beverly Mentzer, who heads the UKOOA's Fiscal Policy Group. The association said the UK produced 4.2 million barrels of oil equivalent per day last year, making it the world's 10th biggest oil producer and the fourth biggest producer of gas. But output is 10% below the peak levels reached in 1999, Reuters reported. Average field size is shrinking, companies are pumping faster than they are discovering, and unit costs - already near the highest in the world - are expected to rise another 20% by 2010, the study said. Efforts to maintain and integrate UK and Norwegian North Sea infrastructure - particularly as supplies through British gas pipelines fade and the nation becomes a net importer in coming years - are also vital to ensuring longevity, officials said.