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 : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: pz who wrote (14413)	3/11/1998 6:32:00 AM
From: Thean	Read Replies (3) \| Respond to of 95453

North Sea Brent up $0.20 this morning on no news.<eom>

To: pz who wrote (14413)	3/11/1998 8:06:00 AM
From: Teddy	Read Replies (2) \| Respond to of 95453

News and a question: First the news: "The Australian Bureau of Resource Sciences (BRS) said 1997 was one of the most successful years for oil and gas exploration in Australia. The agency said the petroleum industry made a record number of oil/gas discoveries and achieved a record level of seismic survey activity and the second highest level of offshore exploration drilling. BRS said important discoveries off Northwest Australia resulted from increased exploration activity, particularly in the Browse and Carnarvon Basins and in the Timor Sea area at the Cornea, Athena, Keast, Woollybutt, Hingkip, Kelp Deep, Sunset and Tenacious prospects. Last year's Cornea discovery resulted in strong exploration interest in the Browse Basin and will lead to additional new field wildcat drilling in the area this year. The Australian government is inviting applications for 58 offshore petroleum exploration permits. Thirty-one areas will be released off the Western Australian coast, five in the Territory of Ashmore and Cartier Islands, 10 areas off the Northern Territory coast, five off the Victorian coast, two off the South Australian coast, three off the coast of Queensland and two off Tasmania. All exploration permits will be awarded for initial terms of six years. Bids for 28 of the areas will close on Oct. 15, 1998; bids for the remaining 30 areas will close on Feb. 18, 1999." Now the question: Who has rigs in Australia now and what is the water depth and conditions? (Wondering if drilling does slow in the GoM, could we move some jackups to Australia?)