70's Mike Posted 29 March, 2010 Share Posted 29 March, 2010 Article in Business section of tonights Echo. Wonder how far it stretchs Link to comment Share on other sites More sharing options...
CB Saint Posted 29 March, 2010 Share Posted 29 March, 2010 Article in Business section of tonights Echo. Wonder how far it stretchs A whole aisle in Halfords? Link to comment Share on other sites More sharing options...
OldNick Posted 29 March, 2010 Share Posted 29 March, 2010 A whole aisle in Halfords?good one Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 29 March, 2010 Share Posted 29 March, 2010 It doesn't matter how far it stretches, it all belongs to the state, even the stuff under your house. Link to comment Share on other sites More sharing options...
positivepete Posted 29 March, 2010 Share Posted 29 March, 2010 There was a nodding donkey was in the field by Charles Watts Way many years ago, it is well known there are large reserves all round Hedge End, stretching up around Winchester. Wych Farm until recently held the record for drilling vertical wells, they can drill into the reservoirs from miles away these days, no need to go close to the houses. There is a long way to go before peak oil chaps. Link to comment Share on other sites More sharing options...
sperm_john Posted 29 March, 2010 Share Posted 29 March, 2010 about two years? Link to comment Share on other sites More sharing options...
Wes Tender Posted 29 March, 2010 Share Posted 29 March, 2010 This has all been discussed before. It is under Jackson's Farm, which is probably why Liebherr bought us. Link to comment Share on other sites More sharing options...
1976_Child Posted 31 March, 2010 Share Posted 31 March, 2010 the oil in Hedge End used to be in the Falklands.... mind you, there was drilling on the Forest road outside Newport on the Isle of Wight a few years ago. Came to nothing. Probably the same geologic structure. Might look good on seismic but once you core it it becomes apparent that there ain't none worth getting out. Link to comment Share on other sites More sharing options...
buctootim Posted 31 March, 2010 Share Posted 31 March, 2010 the oil in Hedge End used to be in the Falklands.... mind you, there was drilling on the Forest road outside Newport on the Isle of Wight a few years ago. Came to nothing. Probably the same geologic structure. Might look good on seismic but once you core it it becomes apparent that there ain't none worth getting out. Times change though - technology to extract more oil has improved and the price of oil has increased - changing the economics. Its been known for years there is oil around the Falklands but when the original surveys were done oil was at $30 per barrel and the water was too deep for viable extraction - now at $70+ its diffrent. Might be the same with Hedge End. Link to comment Share on other sites More sharing options...
1976_Child Posted 31 March, 2010 Share Posted 31 March, 2010 Times change though - technology to extract more oil has improved and the price of oil has increased - changing the economics. Its been known for years there is oil around the Falklands but when the original surveys were done oil was at $30 per barrel and the water was too deep for viable extraction - now at $70+ its diffrent. Might be the same with Hedge End. the initial core samples Desire have taken at Falklands are not looking promising though. Share price cut in half. West Texas Intermediary is now above $80 /bbl and holding strong but even at that price the economics don't hold up for deep sea speculative prospects. BPs boss has recently said that any new investment (read, drilling and exploration) needs a confirmed price above $80 or it is a no go. And not only does the spot price matter but so to does the flow rate after extensive flow testing and the type of crude. AFAIK Fawley is not set up to process heavy sour which is what they found under the Isle of Wight. So it would need to be shipped out to Grangemouth or other. Then there is the actual recoverable reserve versus resource issue. If the resource in place is too small to bother about then it doesn't matter about the spot price if the total cost is never going to be recovered at a margin which share holders expect. Never mind the URR is typically 50% max for these sort of formations and most likely a lot less. Link to comment Share on other sites More sharing options...
buctootim Posted 31 March, 2010 Share Posted 31 March, 2010 the initial core samples Desire have taken at Falklands are not looking promising though. Share price cut in half. West Texas Intermediary is now above $80 /bbl and holding strong but even at that price the economics don't hold up for deep sea speculative prospects. BPs boss has recently said that any new investment (read, drilling and exploration) needs a confirmed price above $80 or it is a no go. And not only does the spot price matter but so to does the flow rate after extensive flow testing and the type of crude. AFAIK Fawley is not set up to process heavy sour which is what they found under the Isle of Wight. So it would need to be shipped out to Grangemouth or other. Then there is the actual recoverable reserve versus resource issue. If the resource in place is too small to bother about then it doesn't matter about the spot price if the total cost is never going to be recovered at a margin which share holders expect. Never mind the URR is typically 50% max for these sort of formations and most likely a lot less. I think you know more about this than me Link to comment Share on other sites More sharing options...
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