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.

Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (331)	6/15/2008 6:10:43 PM
From: Brumar89	Respond to of 86355

Sorry that was 3.7B. I made a typo. If you'd bothered to read what I posted previously you would know that. I've shown you that a list of oil companies (you can read their names at the sites i posted) paid the federal govt $3.7M in the March 2008 round of bidding. Can you imagine them doing that if they don't intend to do something with those leases? "A list... $3.7Million"? Chump change. You know how many $Billions those companies made just last quarter? It's the "bonus payment" not the lease payment. Here, I'll post the link to the $3.7 BILLION again: With oil prices staying above $100 a barrel, energy companies on Wednesday put down a record $3.67 billion in winning bids for the right to drill on federal leases off the coasts of Louisiana, Mississippi and Alabama. houmatoday.com interior.gov Now how about an acknowledgement that $3.7B is not chump change. And please no more claiming they didn't really have to pay this. I posted the regs on that earlier. ----------------------------------------------------- They know the potential of ever square foot of the GOM. If so, they are wasting a lot of money on high earning geologists, seismic studies, imaging technology. You should go into the oil business since you think its so easy. If you're as smart as you think, you could be a billionaire. As I said earlier, there are companies which make a business of this: rocksolidimages.com westerngeco.com iongeo.com www.pgs.com --------------------------------------------------

To: Road Walker who wrote (331)	6/16/2008 7:49:48 AM
From: Brumar89	Respond to of 86355

They know the potential of ever square foot of the GOM. Further refutation of that absurd claim - just think about it, remember the Jack discovery a couple years ago. It wnhb news if we'd known it was there. Here a big seismic firm is announcing thy're beginning to study one of the new frontier areas - Walker Ridge. I guarantee you their survey data won't be given away free. CGGVeritas Begins Walker Ridge Survey CGGVeritas Monday, May 07, 2007 CGGVeritas has begun field operations on the first in a series of planned wide-azimuth data library surveys in the deepwater Gulf of Mexico. The new data library survey is currently the largest wide-azimuth project in the world, covering 464 lease blocks in the prolific Walker Ridge area of the Gulf of Mexico, where substantial reserves have been recently discovered, including the Jack discovery last year. The SR/V Veritas Viking is recording the wide-azimuth data along with four newly rigged vessels – the Sigma, Bjorkhaug, Tenor and Vardholm – acting as source vessels. Together, they are using an acquisition configuration modified from the industry-first deepwater Gulf of Mexico survey that Veritas recorded in 2006. The modified acquisition configuration is designed primarily for regional exploration purposes, but also adaptable to reservoir delineation across a producing deepwater field. This configuration records double the cross-line offset with each sail line compared to previous wide-azimuth surveys, while maintaining optimal data quality. "Our first non-exclusive wide-azimuth survey brings a whole new scale of data acquisition to a highly prospective area of the Gulf of Mexico," commented Tim Wells, President, Western Hemisphere, CGGVeritas. "The survey is substantially pre-funded by multiple clients and will provide our customers with increased illumination and an enhanced understanding of the complex geology of the deepwater Gulf of Mexico." Using proprietary software specifically designed for wide-azimuth geometry, including 3D SRME, Tomography, Beam Migration and Wave Equation Migration, processing of the wide-azimuth data will begin approximately two weeks after the first sail line has been recorded, and a Fast-Trax Migration will be ready approximately two months after completion of acquisition in early 2008. CGGVeritas is a leading international pure-play geophysical company delivering a wide range of technologies, services and equipment, to its broad base of customers mainly throughout the global oil and gas industry. rigzone.com