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: Snowshoe who wrote (105128)	7/16/2008 4:21:48 AM
From: Elroy Jetson	Respond to of 206181

About one billion barrels of oil have been produced from offshore locations in California. Chevron has offshore leases offshore from Morro Bay which contain roughly one billion barrels of very high quality crude for which test wells have been drilled. There is not currently a drill platform at this location. The estimate of an additional 9 billion barrels offshore California, in addition to these particular Chevron leases, is possible but highly speculative. There's good geological reasons why it's unlikely to find oil north of these leases, yet the 10 billion barrel number is predicated in part upon locating oil deposits in these more northerly locations. How much oil and gas could be recovered from any of the existing 26 California offshore platforms which is not already being recovered with the roughly 1,500 wells drilled from these sites? I haven't the slightest idea, but it's not going to be major amounts. I suppose you could get an estimate from what PXP hopes to extract from Platform Irene. .