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Bg Oil Discovery Will 'dwarf' Bp's Giant Find

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BG oil discovery will 'dwarf' BP's giant find

Shares in BG Group soared 2 per cent today after the company announced that its Guara discovery in Brazil contained up to 2 billion barrels of oil.

The group, the UK's third biggest oil and gas producer after BP and Shell, said it could extract between 1.1 to 2 billion barrels of oil equivalent from the Guara discovery. The find, it said, would dwarf the "giant" discovery announced by BP last week in Mexico.

Though the BP site is forecast to hold 3 billion barrels of oil, not all of it is expected to be extractable.

http://business.timesonline.co.uk/tol/busi...icle6827073.ece

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Fantasy oil based stock bubble recovery?

nah, they use bigger barrels darn sarf.

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Yawn. Peak oil is such rubbish.

I believed it for a while but I was talken to my grandpa about it about a year ago and he told me they have been talking about peak oil since he was a kid (he was 88).

Natural gas is where it's at. I'm starting to buy in NGSP now. The price is at a 10 year low and could drop much lower but the story for natural gas is much more compelling than oil.

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I'm only glad it's Brazil.

Perhaps now they will stop travelling in car-bombs laden with tanks of CNG or pure Ethanol.

Heavy smokers, crazy drivers and bottles of natural gas not a good combo IMO.

Ogrish.com used have to loads of aftermath pictures before the site got shut down (certainly put me off travelling to Brazil.)

Smoking while gas refuelling, not big, not clever, but real macho guys still do it.

Some of the photos showed limbs and bits of car hanging off the forecourt canopy.

Yeugghhhh!!

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So, is there a reason why this new field is fully-extractable whereas the BP field is only 20-30% extractable ? Does this make it the only fully-extractable oil field on the planet?

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The size of these finds is TINY compared to the find they used to make.

They are irrelevant in the scale of things.

If they really were BIG find the share price of BP/Bg would have risen a lot more than 2%.

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Yawn. Peak oil is such rubbish.

I believed it for a while but I was talken to my grandpa about it about a year ago and he told me they have been talking about peak oil since he was a kid (he was 88).

Well, since 1949 anyway, he wouldn't have quite been a kid at the time of Hubbert's publication.

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