[sundayatwork]

http://www.equityresearch.li/media/EnergyCrisis.pdf


I suppose if something like this was really true, the real question would be if we would use it to continue on or as a buffer to change our ways.

[DriveElectric]

Thanks for the link. I read the report. The relevant pages are from pages 25 through 30.

I looked up their public SEC filings.
EDEN is a small oil exploration company and they are focused in an area of Nevada where they have leased 200,000+ acres of land. They have found an oil structure that could contain anywhere from 1 billion to 9 billion barrels. This is still a very early exploration project though. It is years away from producing any oil.

[shakespear1]

This is where "rockdoc123" could come in handy to look at the geologic issues involved.

REM is doing very well ( one of their recommendations).

[rockdoc123]

Tant ta dah....to the rescue

Actually Nevada is something I know about. There are a number of oil and gas pools in Nevada chief of which is Blackburn and Grant Canyon. Grant Canyon has the importance of having a well that was the best producer in all of onshore US for about 6 or more years running. The geologic setup is there was a compressional orogeny (Antler age) that created an ancient fold and thrust belt in the area. Subsequent thermal upwelling in the Tertiary created massive extension throughout Nevada and the graben areas were infilled with Tertiary volcanics, ashfall and volcaniclastics. Grant Canyon produces from Devonian Simonson Fm (if memory serves we right) as well as some of the Tertiary porous volcanics. The carbonates are karsted resulting in huge caverns....imagine filling up the Carlsbad system with oil!! ( OK they aren't that big). The discovery well actually had drill pipe drop tens of feet while drilling after hiting on of these caverns.
The source rock is actually quite stellar...the fellow who has been extolling the potential for oil is Alan Chamberlain a consultant who lives and works in Nevada...he wrote a few papers on the geology about 10 or so years ago. I believe the source rock is Mississippian in age...Chainman Shale Fm.
Outcrops of Devonian carbonates illustrate variable amounts of reservoir suggesting it would not be a slam dunk to find reservoir if you drilled through the Devonian section.
The biggest problem to date has been trying to seismically image through the thick Tertiary section...it tends to basically attenuate the seimic signals.
Now with regards to Eden.....small company publically traded...beware of the pump and dump issue. A lot of small companies play off of press to increase their share price and the principles who hold large numbers of options gradually selloff to a huge profit well before the first few exploration wells get drilled. Beware the hype....but yes it is possible for there to be significant oil in Nevada...all the elements are there...finding it is a big issue currently. Maybe they have but I would not count on it.

[shakespear1]

First time here ( PO ) that I busted out laughing. Tataaaaahhhhh

Thanks RockDoc.

[shakespear1]

The warnings you mention are worth listening too. Oil Patch is know for this type of sanke oil salesmanship!!

Buyer Beware!!!!

[sicophiliac]

Ok 1-9 billion barrels of oil.. lets say its 9 billion barrels. Thats quite a find in the continental united states but whats the most that could produce ? 1 million barrels a day tops ? It'd be welcome news no doubt but Its not gonna be doing much for our oil needs.

[DriveElectric]

$this->bbcode_second_pass_quote('sicophiliac', 'O')k 1-9 billion barrels of oil.. lets say its 9 billion barrels. Thats quite a find in the continental united states but whats the most that could produce ? 1 million barrels a day tops ? It'd be welcome news no doubt but Its not gonna be doing much for our oil needs.

[Antimatter]

Has a snake-oil feel to me. The way they beat the peak oil drum then mention this potential supergiant, including somewhat dumbed-down geological data to impress the investor. Time will tell though.