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

To: Tommaso who wrote (44616)	6/4/2005 8:45:59 PM
From: Dennis Roth	Read Replies (3) \| Respond to of 206363

Offshore Oil in North Carolina Found this paper on the Internet, FWIW ecu.edu The area of interest seems to be an ancient reef that formed when the sea level was lower. As the sea level rose, the porous reef was sealed by Cretaceous marine sediments. Mobil Oil proposed to drill there in 1988. More recently, in September of 1997 Chevron announced that they wanted to drill an exploratory well in 2000. According to a 1992 study by U.S. Minerals Management Service the entire basin could hold up to 690 million barrels of oil and 16 trillion cubic feet of natural gas. In 1999 Chevron put their plans on hold due to local political opposition and the low price of natural gas. The price of natural gas is no longer low.