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

To: Elroy Jetson who wrote (44621)	6/5/2005 6:19:12 AM
From: John Carragher	Respond to of 206363

Especially those offshore deposits, which better technology in the future will be able to access at a far lower cost. sable island in ca. off newfoundland is a great example . sunoco owned the rights for thrity years but never had technology to drill that deep and also concern over ice flow taking out the rigs. It was 60's 70's that mobil bought interest from sunoco and others join into building the largest rig yet to drill in those type waters. the project was so costly, the canada gov subsidized it to keep jobs moving around newfoundland , nova scotia where there was little employment. several other oil companies dropped out of the partner ship as costs continued to run over budget. Sabel island was never thought to be profitable with oil costs being around twenty dollars a barrel. i doubt anyone ever expected oil to rise to today's prices.