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Well, Oil Be Saved Ireland strikes oil Rate Topic: -----

#1 User is offline   SarahBell 

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Posted 15 March 2012 - 08:45 AM

4000 barrels a day doesn't sound a lot but they're skint so every little helps.


http://www.rte.ie/ne...e-business.html

This post has been edited by SarahBell: 15 March 2012 - 08:45 AM

Whoever you are, I have always depended on the kindness of strangers.

#2 User is offline   Lagarde's Drift 

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Posted 15 March 2012 - 09:12 AM

No, this is the bit that counts:

Quote

A third party audit carried out by RPS Energy for Lansdowne indicated P50 and P10 STOIIP estimates for Barryroe of 373 MMBO and 893 MMBO, respectively. The corresponding 2C and 3C Barryroe recoverable contingent resources are 59 MMBO and 144 MMBO, respectively.


Even allowing for resources to increase over the life time of the field (as they do), it's not a lot.

What is important is the calibration of the seismic to their proven geological knowledge - they should be able to tell what else is out there, are there any monster fields? Or even lots of small ones ala current North Sea?

#3 User is offline   interestrateripoff 

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Posted 15 March 2012 - 09:13 AM

Are they going to build a pipe directly to Germany?
Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

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#4 User is offline   Lagarde's Drift 

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Posted 15 March 2012 - 09:14 AM

View Postinterestrateripoff, on 15 March 2012 - 09:13 AM, said:

Are they going to build a pipe directly to Germany?


:D

#5 User is offline   trekking 

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Posted 15 March 2012 - 11:27 AM

View PostSarahBell, on 15 March 2012 - 08:45 AM, said:

4000 barrels a day doesn't sound a lot but they're skint so every little helps.


http://www.rte.ie/ne...e-business.html

Well oil beef hooked.
The vultures have not even started to circle yet.

#6 User is offline   Gigantic Purple Slug 

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Posted 15 March 2012 - 12:25 PM

Better than nothing.

At a time when Ireland desperately needs the work.

Maybe they'll find more, maybe not.

I see the Yanks are considering plundering the SPR to boost Owebama's election chances. Nice one.

#7 User is offline   fluffy666 

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Posted 15 March 2012 - 03:00 PM

View PostGigantic Purple Slug, on 15 March 2012 - 12:25 PM, said:

Better than nothing.

At a time when Ireland desperately needs the work.

Maybe they'll find more, maybe not.

I see the Yanks are considering plundering the SPR to boost Owebama's election chances. Nice one.


Offshore Ireland on the West coast is quite interesting - you have to drill through a thick layer of basalt which makes the seismic interpretation very hard indeed. But otherwise, it has similarities to the North sea, could be some good fields under there.

#8 User is offline   Bloo Loo 

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Posted 15 March 2012 - 03:06 PM

View PostLagarde, on 15 March 2012 - 09:12 AM, said:

No, this is the bit that counts:



Even allowing for resources to increase over the life time of the field (as they do), it's not a lot.

What is important is the calibration of the seismic to their proven geological knowledge - they should be able to tell what else is out there, are there any monster fields? Or even lots of small ones ala current North Sea?


Million Barrels of Oil...whats the second M for in MMBO?
WARNING

Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it

#9 User is offline   Lagarde's Drift 

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Posted 15 March 2012 - 03:14 PM

View PostBloo Loo, on 15 March 2012 - 03:06 PM, said:

Million Barrels of Oil...whats the second M for in MMBO?


I have no idea, I just know that MM = million. Could it be roman numerals? M x M = 1 million?

#10 User is offline   swissy_fit 

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Posted 15 March 2012 - 04:04 PM

The population isn't massive, what's the daily oil requirement?
If there are any other fields they could at least become exporters not importers for a while, perhaps.

Edit : Especially if they pull their fingers out and use those massive fiord-type valleys on the West coast as batteries for renewables, they could diminish their own oil consumption while increasing production.

This post has been edited by swissy_fit: 15 March 2012 - 04:15 PM

If you want to know what the next political move will be, ask yourself what will suit the banks, and behold, the answer will come to you.

The Credit Crunch :
The logical financial outcome is deflation. The logical political outcome is inflation. (Thanks to Injin 21st Sept 2008)

#11 User is offline   Democorruptcy 

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Posted 15 March 2012 - 04:18 PM

Their property developers will want it. They got everything else.
If you say "democorruptcy" quickly, it sounds a bit like "democracy". In a "democracy" people vote for politicians who represent their interests. In the UK's "democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR and interest rates swaps are now being paid by savers so that bankers can keep pocketing bonuses.

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If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
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#12 User is offline   Lagarde's Drift 

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Posted 15 March 2012 - 04:30 PM

Can you PFI a dam, then BTL it? I'm sure the Irish can work out a way :)

#13 User is offline   Bloo Loo 

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Posted 15 March 2012 - 04:31 PM

View PostLagarde, on 15 March 2012 - 04:30 PM, said:

Can you PFI a dam, then BTL it? I'm sure the Irish can work out a way :)


Im sure they can PFI a dam, and never build it.
WARNING

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country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it

#14 User is offline   Game_Over 

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Posted 15 March 2012 - 06:46 PM

There was some guy with a theory that oil is formed by microbes and that it can be found everywhere

I'm beginning to think he was right

So we probably are never going to run out of oil

Not before we crack nuclear fusion anyway.

:blink:

#15 User is offline   Lewis Gordon Pugh 

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Posted 15 March 2012 - 06:48 PM

More oil leaking to surface pockets from the mantle where it is probably produced.
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