A procedure is needed to not only drain one zone through fracking, but other zones in the same horizontal well bore. I think this is the next leap in the technology that will ensure oil independence for America and the rest of the world too.
This is the reason Fracking has become so successful and created the glut which America is enjoying. No longer are we dependent on a single shaft to drain an oil zone, the zone can be fractured and become a continuous drain for thousands of feet horizontally, and vertically as well, and since the Earth is constantly making oil, the oil never runs out.
Even the Jiimies declared the prices of oil will be in the $60 range for the next (((5))) years, I think lower, and I think it will be so for a long time after 5 years. Geologists are learning that oil is not rare, it is very plentiful, the Earth makes lots of it, it is a natural product the Earth produces - it's not from dinosaurs and plants that lived millions of years ago, and it's not about to run out, another lie told to us by big oil, - look up ABIOTIC OIL.
These prices are still way too high, they should be in the $40 range and gasoline should be under a $1.50 per gallon.
$1.19 (1.98%) 9:04AM EST
heading to $50
Resistance is broken
Life is good,
Gas is getting cheaper and cheaper.
With almost 3 billion company shares printed, your point is really mute.
The pps at $0.20 is about where it should be with the number of shares outstanding as well as the debt, plus, the well revenues of, on average 20%, and $60 oil for the next 5 years, as the Jiimies are reporting.
Check the numbers yourselves on one of the recent Advisories, Samson Oil & Gas Operational Advisory Nov 10th, 2014. Remember the formula, (number of wells divided by total revenue interest of each well gives the average).
Also, take a close look at Samson's Web site under "Investor Relations", "Investor Fact Sheet" - ((( Shares on Issue: 2,837,756,933 Ordinary shares as at 28/07/2014 ))).
Heading up to Crested Butte. Have several friends there that want us to visit - looking forward to getting away and enjoying some Colorado skiing and hospitality - .
Write another letter, on the message board, to TB...
LMAO - Like he really cares what you think ...
Get Your Box Top and Get Used to $0.16 per share for the next 5 years....
All the big companies are spouting out $40 oil...that seems about right with the glut.
And the glut gets bigger and bigger because companies have to drill, and drill, and drill.
$40 dollar oil will be with us for many years to come,
ah - $1.29 per gallon for gas - ain't it sweet.
Get stronger pegs for the tent down at the Shelter...it's going to be a long winter 2014, spring 2015, summer 2015, fall 2015, and winter 2015....
LMAO the Jiimies, Sandy, and the MMan
MORE OIL means MORE GLUT !!!
(2.71%) 9:57AM EST
OPEC cut the forecast for how much crude oil it will need to provide in 2015 to the lowest in 12 years amid surging U.S. shale supplies and reduced estimates for global consumption.
The Organization of Petroleum Exporting Countries lowered its projection for 2015 by about 300,000 barrels a day, to 28.9 million a day. That's about 1.15 million a day less than the group's 12 members pumped last month, and the 30-million barrel target they reaffirmed at a meeting in Vienna on Nov. 27. The impact of this year's 40 percent price collapse on supply and demand remains unclear, OPEC said.
"The fundamentals outlined in the report look quite bearish," Abhishek Deshpande, oil markets analyst at London-based Natixis SA, said by e-mail. "Fiscal balances are a huge problem for weaker OPEC members, so I won't be surprised if they call for an emergency meeting early next year."
Prices now are below what 10 out of OPEC's 12 members need for their annual budgets to break even, according to data compiled by Bloomberg. Kuwait and Qatar are the exceptions. Saudi Arabia, OPEC's biggest member, has $742.4 billion of reserve assets, data from the country's monetary agency show. OPEC's next meeting is due to take place on June 5.
Brent crude, the global benchmark, traded $1.11 a barrel lower at $65.70 a barrel as of 12:54 p.m. London time. It slumped as low as $65.29 a barrel yesterday, before rebounding. It hasn't been below $65 since September 2009.
Oil & Gas specialty - "amazed to find a nitrogen cap"....LMAO
Mexico announced that production from its giant Cantarell Field began to decline in March 2006. In 2000, PEMEX built the largest nitrogen plant in the world in an attempt to maintain production through nitrogen injection into the formation, but by 2006, Cantarell was declining at a rate of 13% per year.
these small companies. They look cheap and are cheap to buy, they inspire dreams of riches, but in the long run they're spoilers because there is no upside left in them - they never rebound, they flounder in the market. Whatever value was in the company has been squeezed out by the market and management leaving those who got in and are holding the bag - angry. It seems only management gets the payday through bonuses, expensive trips, and 6 figure salaries, while shareholders hope to break even and get out. IMHO.