GREY:ROAOF - Post by User
Comment by
Bigbadoilon May 20, 2005 10:23am
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Post# 9060639
RE: I am sorry
RE: I am sorryWell said Section plan.
On a world wide basis we are only finding a 1/3 of the oil we produce each year. The industry has to go to more dicey locations to find it (deep offshore or questionable political countries)... I think that fundamentally, small exploration companies are a good bet.
Our oil has been the most active driller in the N. Sea and has found an economic discovery (Art said Brenda is economic at $30 at the AGM. It continues to drill and has success.
The UK N Sea has one of the most attractive fiscal regimes in the world. Larger companies are getting out and small independents ( like Oil) are getting in. Think Western Canada in the early 90's..the same process happened there. A little company called CNRL started at that time. It had about 1000BOe/d in 1990. It now produces 500,000boe/d.
Bigbadun'