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You won’t find this setup often - or possibly ever: A small-cap explorer sitting on a massive Permian basin that has potential for a major onshore conventional oil discovery.
And the drill bit just hit the ground in a three-well campaign…
Because it’s a small-cap sitting on such a huge basin (8.5 million acres), its stocks are already soaring in anticipation of the first results, which are soon to be released.
Drilling started just over a week ago, and already the stock is supercharged, gaining over 100% since January 1st.
Onshore, there is almost no oil or gas regions left unexplored on land, except in Africa, which remains underexplored.
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for decades and decades and decades. will that always be the story? we don t know yet. there s more potential oil here than in the middle east, russia, and venezuela combined so companies keep innovating, in utah, n shale has developed new technology to extract oil from the rock by heating it on the surface. how does it smell? it smells a little like tar, a a little bit like cigars. that came out of a rock? that s out of that rock, yeah. other issues kess, shell, exxon and american shale oil have spent millions on research to extract the oil underground, they re putting heaters down wells to cook the rock at 700 degrees. basically, accelerating what nature would have done over millions of years. is this ever going to be viable? you know, i ve been at this for about 40 years and i m still hoping that it will, and you know, i believe it might be because we have this new technology. but there are also big environmental concerns. heating the rock underground could take
barataria bay and areas west of the mississippi river. what are the plans for cleanup of potential oil that you guys have not had to deal with yet? well, i m not sure we anticipate oil to be in those kinds of locations, but it s a legitimate question for a hurricane, and we have put together a team between fema and the coast guard and the department of highland security to look at the legal implications of the stafford act, how would you pay for a debris cleanup and damage to dwellings and the implications of the liability fund and the bp claims process as to what might be oil-related. we re going to need rules because at some point the two response structures become co-mingled, and there s policy decisions that have to be made about defining what is oil spill-related and what s related to the hurricane damage. i will say this, just in general, if oil from this response or from this spill is