<Declining Net Oil Exports Versus “Near Record High” Crude Oil Inventories: What is going on?The Oil DrumSixth Annual ASPO Conference – Cork, Ireland>
<DrumBeat: September 14, 2007DrumBeatDrumBeat: September 16, 2007>

86 comments on DrumBeat: September 15, 2007

Comments can no longer be added to this story.

Alfred on September 15, 2007 - 9:43am Permalink | Subthread | Comments top

I just got an email that contains the following:

A short while ago I wrote to you about an underground "X-ray" that has pinpointed up to 10 BILLION barrels of oil around a UK-owned territory.

I believe the area referred to is the Falkland Islands

Now this may be a very naive question, however, does anyone know what this underground X-ray might be all about?

0
Comments can no longer be added to this story.
CreosoteChris on September 15, 2007 - 9:51am Permalink | Subthread | Parent | Comments top

.....we all get a lot of emails making improbable claims.

So not only is there a huge oilfield there for us to grab - but purely by coincidence, there's a whole new fantastic way of detecting oil reservoirs, rendering obsolete all the other methods that have been painstakingly developed over the last century!!!

Phew, and I thought we were really in trouble....

Regards Chris

0
Comments can no longer be added to this story.
MUDLOGGER on September 15, 2007 - 10:13am Permalink | Subthread | Parent | Comments top

If they ask you to invest any money DONT DO IT :-(

There is no technology that can pinpoint 10 billion barrels of oil.

You need a lot of seismics, basin analysis, exploration and appraisal drilling. - It has to be done the hard way.

As for the Falklands, so far, not so good. Exploration has been limited, and nothing much has shown up so far.

0
Comments can no longer be added to this story.
MUDLOGGER on September 15, 2007 - 10:30am Permalink | Subthread | Parent | Comments top

A bit more on the Falklands:

http://www.desireplc.co.uk/pdfs/journalpart1.pdf

Worth a read actually. It gives you an idea as to what is involved. 6 well exploration drilling campaign in 1998.

Shows encountered, looks like a lake and river system in a rifting phase.

Some more drilling in 2008 I think.

0
Comments can no longer be added to this story.
Alfred on September 15, 2007 - 12:20pm Permalink | Subthread | Parent | Comments top

Thanks CreosoteChris and Muddlogger. I was just wondering if there is something we are missing out on at this site!

0
Comments can no longer be added to this story.
CreosoteChris on September 15, 2007 - 1:26pm Permalink | Subthread | Parent | Comments top

Thanks Mudlogger

If the Brits are going to start recovering oil from there, I think we'd better re-christen the, er, Malvinas Basin (in the interests of diplomacy).

Regards Chris

0
Comments can no longer be added to this story.
MUDLOGGER on September 15, 2007 - 4:12pm Permalink | Subthread | Parent | Comments top

Ha!

I wonder if, 25 years after the Falklands War, we could re-take it after another invasion....

If oil was found on the Falklands in sufficient amounts to go for serious extraction , I think we would need Argentinian help for support anyway. Unless we build support systems etc on the Island.

0
Comments can no longer be added to this story.
paal myrtvedt on September 15, 2007 - 12:50pm Permalink | Subthread | Parent | Comments top

When I think of the lush green prehistoric algae oceans, the cause of oil – I’d expect these alga pileups to occur in bays, gulfs and lagoons brought there by currents, and becoming more stagnant in shallower waters … Actually more or less just where we observe the oil locations/- findings of today - according to today’s geology ..

Whatever oil found on land today – used to be ocean floor…

The Falklands are not in the right place for oil, in the middle of a large ocean

Am I wrong?

0
Comments can no longer be added to this story.
MUDLOGGER on September 15, 2007 - 4:07pm Permalink | Subthread | Parent | Comments top

At first glance, the Falklands basin described in the .pdf is similar to the North Sea Viking graben.

Essentially, it looks like rift valley. Where Horst Blocks have parted and a graben has slumped. Similar to the African Rift Valley, or the Rhine Valley.

Tyically you get fluvial and lacustrine systems, lake beds, channel sands etc. Sediment and organic matter accumulates, which under the right conditions, can lead to oil generation, resevoir and trapping. But, as an above surface structure Total Organic Content (TOC) may be quite small.

They drilled 6 wells, Hydrocarbons shows were present, I dont know if any wells gave successful tests (flowing, flaring).

Dont hold your breath. It looks encouraging (in so much that they hit clastic sediments of the right age range and types), but it will be a while yet before reserves get booked - if any.

0
Comments can no longer be added to this story.
SacredCowTipper on September 15, 2007 - 1:14pm Permalink | Subthread | Parent | Comments top

I got a call right before I started reading TOD from someone claiming to be from Texas (with a thick Texas accent) wanting me to invest in four oil wells that were being brought back to life. I was flat amazed because I'd never received any sort of solicitation before on that number ...

I've talked a bit with oilmanbob and it turns out that there are lots of small wells that aren't cost effective for the big boys to work which could be brought back to life by a very efficient wildcatter.

0
Comments can no longer be added to this story.
thomas deplume on September 15, 2007 - 2:00pm Permalink | Subthread | Parent | Comments top

I read an article a few years ago which explained how a drilling company in Kentucky used a Gieger counter to find the best place to drill. It said that the presence of oil caused a drop in the natural background radiation. They claimed to have never drilled a dry hole using that method.

0
Comments can no longer be added to this story.
SamuM on September 16, 2007 - 6:41am Permalink | Subthread | Parent | Comments top

Oil billions beckon Falkland Islands
http://news.bbc.co.uk/1/hi/business/6571431.stm

"We could be looking at 5 to 6 billion barrels of reachable oil"

World Proved Reserves of Oil and Natural Gas (Jan 2007)
http://www.eia.doe.gov/emeu/international/reserves.html
Falkland Islands, Oil:0, NatGas:0

Falkland Oil and Gas presentation May 2007
http://tinyurl.com/yvnt82

Underground X-ray is probably a misnomer for 2D-seismic, which they've used in the Falklands extensively, according to news reports.

0
Comments can no longer be added to this story.