Oil Discovery In Falklands Hailed As Biggest Of Its Kind

[Authoritarian]

What constantly seems to be found in the Falklands is an endless supply of oil share ramping.

This circus has been going on for decades now.

I know someone who lost a shed load of redundancy money investing in an earlier round of Falkland oil bonanza madness.

[cashinmattress]

Still waiting for a reply

But the official line from 2006 is

http://www.mod.uk/NR/rdonlyres/AC00DD79-76D6-4FE3-91A1-6A56B03C092F/0/DefenceWhitePaper2006_Cm6994.pdf

You have to ask yourself how Maggie intended to nuke Buenos Aries - before the advent of GPS.

Maggie said a lot of things, as do all politicians.

I said specifically : If they (yanks) choose to change the GPS cypher, or jam our network, or a myriad of things they can do to our system, we are 100% in the dark.

And how many UK personnel have been allowed to decode the operating system within the American manufactured Trident, with American written software? If you know that kind of information, you are above tier II classification in any military, and you'd be under very severe constraints. Maybe your buddy will tell you exactly what is going on in the guidance systems so you can enlighten the forum.

Aside: Dennis Healy referred to the UK acquisition of the Trident as "rent a rocket/nuke/missile" or something along those lines, IIRC. <= Another politician saying something.

EDIT: Maggie was very out of touch as well, and quite nut job, as is evident in her botched exercise 'Able Archer'. People forget so easily.

Edited June 5, 2010 by cashinmattress

[Redcellar]

Still waiting for a reply

But the official line from 2006 is

http://www.mod.uk/NR/rdonlyres/AC00DD79-76D6-4FE3-91A1-6A56B03C092F/0/DefenceWhitePaper2006_Cm6994.pdf

You have to ask yourself how Maggie intended to nuke Buenos Aries - before the advent of GPS.

I am relieved this is the case. My satnav often leads me down the wrong road and once even tried to send me 400 miles for what should have been a 40 minute trip. I can now sleep safe in the knowledge that nukes don't have to "make a U-turn at the next opportunity".

[OzzMosiz]

2 days supply of the worlds oil is still worth a freaking fortune.

Consider Gulf Keystone drilling in Kurdistan, they've discovered 4.2BILLION barrels of oil in one target with 4 to go.

That could increase to 10 BILLION just for that payzone alone, and yet their market cap is less that Rockhoppers!!! NUTS

242 million barrels eh?

Wow, that sounds like a lot doesn't it.

OK, given the global consumption rate of 85 million barrels per day.

That would be Less than 4 weeks global supply.

On the other hand, if there really is only 242 million barrels there.

That would be 2.8 days of global supply

[Alan B'Stard MP]

Maggie said a lot of things, as do all politicians.

I said specifically : If they (yanks) choose to change the GPS cypher, or jam our network, or a myriad of things they can do to our system, we are 100% in the dark.

And how many UK personnel have been allowed to decode the operating system within the American manufactured Trident, with American written software? If you know that kind of information, you are above tier II classification in any military, and you'd be under very severe constraints. Maybe your buddy will tell you exactly what is going on in the guidance systems so you can enlighten the forum.

Aside: Dennis Healy referred to the UK acquisition of the Trident as "rent a rocket/nuke/missile" or something along those lines, IIRC. <= Another politician saying something.

I'm no expert on the matter - but it doesn't make sense to me that the UK would procure an expensive independent nuclear deterrent - hold understandings with the US that they have no veto - the Stated position of the US. Have targeting systems that are internal to the device - and still no be able to fire the devices under their own direction - as per their own deterrent policy and agreement with the supplier.

Given that the UK have the devices in their possession and have built warheads to integrate with them - I imagine they will know full well how they work. Certainly dumping an operating system is no barrier.

It makes no sense.

[R K]

242 million bbl is 3 days global consumption.

I wonder what the EROEI on the field will be?

Are Halliburton involved in c*cking this one up in any way?

[cashinmattress]

Are Halliburton involved in c*cking this one up in any way?

Of course they will be in some aspects, but they are not drillers.

Probably more after a major leases the blocks.

[juvenal]

"Darling, fill up the Landrover, and we'll pop out for some Parma ham..."

[TumTeDum]

FYI,

.

[Confusion of VIs]

I believe the dependence is in the supply chain. They can still strike targets without the satellites.

Yes but without the satelites they could "miss" by up to 1km, although as each warhead is many times the power of Hiroshima it would probably still spoil your day.

[Confusion of VIs]

242 million barrels eh?

Wow, that sounds like a lot doesn't it.

And there may even be millions more as well!.

Let's assume there is 10 times as much as 242 million.

So that'd be 2,500 million barrels

OK, given the global consumption rate of 85 million barrels per day.

That would be Less than 4 weeks global supply.

On the other hand, if there really is only 242 million barrels there.

That would be 2.8 days of global supply

[Tiger Woods?]

Should keep the gas guzzlers and 4x4's going a few more weeks. No need to walk to the shops for fags and a paper after all! Phew!

I think you'll find that 240 million barrels is just about precisely 3 days worth of global consumption.

[Alan B'Stard MP]

Maggie said a lot of things, as do all politicians.

I said specifically : If they (yanks) choose to change the GPS cypher, or jam our network, or a myriad of things they can do to our system, we are 100% in the dark.

And how many UK personnel have been allowed to decode the operating system within the American manufactured Trident, with American written software? If you know that kind of information, you are above tier II classification in any military, and you'd be under very severe constraints. Maybe your buddy will tell you exactly what is going on in the guidance systems so you can enlighten the forum.

Aside: Dennis Healy referred to the UK acquisition of the Trident as "rent a rocket/nuke/missile" or something along those lines, IIRC. <= Another politician saying something.

EDIT: Maggie was very out of touch as well, and quite nut job, as is evident in her botched exercise 'Able Archer'. People forget so easily.

I rang and and asked him. He said the US and UK confer politically and operationally - but if the UK wanted to nuke say the US they could. The US have no physical control over our deterrent.

You will have to take that as you will.

[yelims]

Sorry but no, you are exaggerating. I know its the mood of the times but by any objective standard we are a major power for a nation state that isn't a super-power. We used to be the pre-eminent superpower so this is a colossal fall from grace but "3rd rate" is ridiculous, our ability to project force is significant. Don't misinterpret this as jingoism or complacency but your post is the sort of thing that only a Briton (or an American in a boasting mood) could write, start subscribing to Jane's if you don't believe me.

so hows Afghanistan working out for yee lot?

[Guest Steve Cook]

2 days supply of the worlds oil is still worth a freaking fortune.

Consider Gulf Keystone drilling in Kurdistan, they've discovered 4.2BILLION barrels of oil in one target with 4 to go.

That could increase to 10 BILLION just for that payzone alone, and yet their market cap is less that Rockhoppers!!! NUTS

You bet its worth a fortune..

The point I am making is that, before any of the plonkers come on here and say there is no problem with our global supply of oil because of such discoveries, we should all bear in mind how paltry a contribution to world supply these "immense" discoveries actually are.

[blankster]

Isn't it the case that most of the potential oil finds in the Falklands lie beneath very deep sea? Given that deep-sea drilling is in its infancy (The North Sea is shallow), and that one of the first deep-sea drilling operations has gone disastrously wrong in the Gulf of Mexico, commercial Falklands oil seems a long way off.

[Cogs]

so hows Afghanistan working out for yee lot?

Difficult. It isn't really relevant, if we were at war with Afghanistan it would be a different (and much more quickly resolved) matter.

[Zzzzzzzzzzzzzzzzzzzzzzzzzz]

Sounds like house price ramping to me. Rumours abound that the quality of oil that they actually found is very poor.

At least Desire Petroleum had the honesty to publicly declare that the quality of their oil find was extremely poor.

update - sorry, I take it all back, Rockhopper says their stuff is good quality. I believe them

Edited June 5, 2010 by gruffydd

[Zzzzzzzzzzzzzzzzzzzzzzzzzz]

so hows Afghanistan working out for yee lot?

[Zzzzzzzzzzzzzzzzzzzzzzzzzz]

http://www.telegraph.co.uk/finance/markets/marketreport/7798693/FTSE-100-falls-as-Rockhopper-volatile-on-talk-of-light-oil-find.html

[CrashConnoisseur]

Isn't it the case that most of the potential oil finds in the Falklands lie beneath very deep sea?

'Falkland Islands: Oil boom or no oil boom?':

http://news.bbc.co.uk/2/hi/business/8519807.stm

In the North Falkland Basin, the waters are relatively shallow, giving a drilling depth of 1,500ft (500m) or less.

But in the eastern and southern basins, the drilling depths are likely to be up to 9,000ft.

This is not as deep as Brazil's big discovery of recent years, the Tupi oil field off the coast of Rio de Janeiro.

[tim123]

http://www.dailymail.co.uk/news/worldnews/article-1284171/Oil-discovery-Falklands-hailed-biggest-kind-North-Sea-Oil.html

Apparently Argentina relinquished any rights to a share of the oil in 2007.

They will not be happy.

But they will get an employment boost.

We're not exactly going to support this from Aberdeen, are we?

tim

[r.bartlett]

Anyone know if the 'Rockies oil' is true or not?

http://www.rinf.com/columnists/news/the-us-governments-secret-colorado-oil-discovery

The US Government’s Secret Colorado Oil Discovery

Published on 1st May 2006

Rense

Hidden 1,000 feet beneath the surface of the Rocky Mountains lies the largest untapped oil reserve in the world – more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. Three companies have been chosen to lead the way. Test drilling has already begun

Dear Reader,

Five months ago, the U.S. Energy Department announced the results of a land survey

It was conducted to determine the official amount of oil a thousand feet deep in the Rocky Mountains

They reported this stunning news:

We have more oil inside our borders, than all the other proven reserves on earth.

Here are the official estimates:

* 8-times as much oil as Saudi Arabia

* 18-times as much oil as Iraq

* 21-times as much oil as Kuwait

* 22-times as much oil as Iran

* 500-times as much oil as Yemen

And it’s all right here in the Western United States.

James Bartis, lead researcher with the study says, “We’ve got more oil in this very compact area than the entire Middle East.”

More than 2 TRILLION barrels. Untapped.

“That’s more than all the proven oil reserves of crude oil in the world today,” reports The Denver Post.

When asked about America’s least-publicized oil supply, Utah Senator Orrin Hatch said:

“The amounts of oil are staggering. Who would have guessed that in just Colorado and Utah, there is more recoverable oil than in the Middle East?”

Here’s the kicker

The U.S. government already owns the land. It’s been right there under our noses the whole time.

In fact, the government’s appointed a small group of companies to begin the drilling.

Test drilling has already begun.

And the profit forecasts are ridiculous. According to the RAND Corporation (a public-policy think tank for the government), this small region can produce:

Three million barrels of oil per day That translates into more than $20 BILLION a year.

These are the conservative estimates. The U.S. Energy Dept. estimates an eventual output of 10 million barrels of oil per day. At that rate, the money flow would be even greater.

I’ve written this letter to tell you everything I’ve learned about this rarely publicized oil reserve who’s drilling it and how to get a piece of the world’s biggest, untapped oil supply – before it’s too late.

Here’s the full story

The Next American Oil Boom

There’s a new source of oil in the American West.

Today, it sits idle – untapped – inside more than 16,000 square miles of rock and sand.

Geologists call what lies in this region, oil shale.

What is oil shale?

At first glance, oil shale looks like an ordinary black rock.

It feels grainy to the touch and greasy. You see, what’s inside oil shale has huge governments, Big Oil, venture capitalists, and even everyday investors scrambling to stake a claim.

Oil shale – when heated – oozes bubbling crude.

This precious resource is rare – found only in a few select countries. Places like China, Brazil, Estonia, Morocco, and Australia.

But the real story is how much untapped oil shale lies beneath U.S. soil. As the chart to the right indicates, there’s 4-times more oil shale in the U.S. than in all other countries combined.

Over the past 125 years, oil shale has been the secret oil source for a handful of nations. Specifically, those fortunate enough to have it

* China’s been using oil shale since 1929. Today, China is the largest producer of oil from oil shale. It plans to double the daily rate of production soon.

* Estonia is an oil shale dependent economy. Over 90% of the country’s electricity is fueled by shale oil. In fact, electricity run on oil shale is a chief export.

* In 1991, Brazil built the world’s largest oil shale facility. They’ve already produced more than 1.5 MILLION tons of oil to make high quality transportation fuels.

* Jordan, Morocco, and Australia have recently announced plans to utilize their oil shale resources. All 3 governments are currently working to build oil shale facilities.

But all these countries’ oil shale resources pale in comparison to the U.S. supply. As you can see from the table to the right, the United States dominates the oil shale market – with over 72% of the world’s oil shale resources.

Our gargantuan supply of oil lies beneath an area called the Green River Formation – a barren stretch of land covering portions of Colorado, Utah, and Wyoming.

World-renowned geologist Walter Youngquist calls the oil beneath the Green River Formation, “a national treasure.”

Congress calls this area simply, “the next Saudi Arabia.”

It’s easy to see why

This region holds the largest known oil reserve on the planet

Colorado’s Oil Lands – Restricted for 76 Years, Now Open for Drilling

There are over 16,000 square miles of oil shale in the Green River formation…

Each acre holds 2 million barrels of oil – it’s the most concentrated energy source on earth, according to the Energy Department.

The federal government owns 80% of this oil-rich land.

In fact, the government placed protective legislation on this land in 1930, forbidding anyone to touch it.

You see, the government always knew this land was saturated with oil – but getting it out has always been expensive.

Buying oil from foreign countries was always the cheaper bet. It has been for the past 80 years.

Wisely, the government kept the land around for a “rainy day”, protecting it with 1930s legislation.

I’m sure you’re aware of today’s situation at the gas pump. Buying oil from foreign countries has gotten out of hand. The price of oil is sky-high. It’s way too expensive to keep buying foreign oil. In other words, the “rainy day” has finally arrived.

The timing couldn’t be more perfect. Oil shale technologies have begun to advance ­ drastically.

Companies are coming up with ways to extract oil from the Green River Formation very cheaply.

For example, one Utah-based company says it can extract the oil for as little as $10 a barrel. In fact dozens of companies have stepped forward with similar claims. With oil prices approaching $70 a barrel ­ these are pretty significant breakthroughs.

That’s all the government needed to hear.

On August 8, 2005, President Bush signed into law, a mandate lifting the protective legislation on the Green River Formation.

This mandate is called The Energy Policy Act of 2005. It calls for the opening phases of oil extraction in the Green River Formation ­ the world’s most concentrated energy source.

We’re finally ready to tap the largest oil reserve on the planet

[chris25]

So supposedly this find contains 242 million barrels of oil.

In three combined months in 1999, North sea oil gave us that figure.

Like comparing an ant to a skyscraper.

[chris25]

Compare it to the Tiber field in the Gulf of Mexico. Two miles under water but containing three billion barrels.