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Message: Dictionary of Petroleum Exploration * Production

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Dictionary of Petroleum Exploration * Production

posted on May 29, 08 06:10AM

In anticipation of an exciting year ahead in oil I have purchased a Dictionary of Petroleum Exploration & Drilling & Production. Hopefully this will help disseminate some of the comming news releases (very soon hopefully). If anyone would like me to post any petroleum dictionary definitions on the board please ask and I will be happy to post.

On a separate note I am reading a book caleld Profit from the Peak. According to the authors Brian Hicks and Chris Nelder, we're quickly facing the end of our oil-based economy. Half the worlds known oil reserves are gone, and with roughly a trillion barrels remaining and consumption up to eighty-six million barrels a day--the world has about thirty years of oil left. And that's a best' case scenerio.

Profit from the Peak: The End of Oil and the Greatest Investment Event of the Century (Angel Series)

The International Energy Agency (IEA) estimates that at least $20 trillion will have to be invested over teh next 25 years to meet the surging energy demand.

Wow!!! what a great time to hold a couple thousands shares of an emerging oil company. I can't say it enough, Odyssey Petroleum is one of the best buys currently in the oil patch. It is currently trading BELOW the value of its infastructure and the market is valuing Pelahathchie Field at 1 cent. 50,000,000 BOE of P90 + P50 + P10 being valued at 1 cent. If we include behind pipe reserves and use tertiary recovery methods that reserve number could jump to 100,000,000. Knowing what I know about the company I feel completely at ease holding 240,000 shares in my RRSP.

Cheers