[Rhodes22-list] Where's the oil.

[Joseph Hadzima]

Decisons decisions ... construction or boat building ...


--- Brad Haslett <flybrad at gmail.com> wrote:

> Bill,
> 
> You pretty much figured it out.  The developers make
> money on dry holes as
> well.  The worst thing about becoming one of the "useful
> idiots" that they
> call "sophisticated investers" is that your phone number
> gets sold to other
> investment schemes.  I get two calls a week to invest in
> the next Hollywood
> blockbuster.
> 
> Now if you'd like to invest in a sure fire, can't lose
> construction venture,
> you've got my number.
> 
> Brad
> 
> 
> On 2/14/07, Bill Effros <bill at effros.com> wrote:
> >
> > Wait! Wait!
> >
> > I've got this bridge right next to my place in
> Brooklyn--goes straight
> > to Manhattan--150,000 crossings a day--no tolls on it
> right now, but
> > we're going to buy it, make people pay $5 to cross it,
> reduce the number
> > of cars in Manhattan, and make a fortune--Do the
> Math!--It's a win-win!
> > Can't miss! Opportunity.
> >
> > Contact me back channel for where to send your check.
> >
> > Bill Effros
> >
> > Brad Haslett wrote:
> > > Rummy,
> > >
> > > Investing in individual new wells is not for the
> faint of heart.  I
> > > bought a
> > > small piece of a gas well that was being drilled in
> south Texas two
> > years
> > > ago.  They hit a very productive pay zone at around
> 11,000 feet, right
> > > where
> > > the 3D seismic said it would be.  Then during
> completion, they
> > perforated
> > > into the water zone and the whole $3 million well
> went kaput (including
> > > yours truly hard earned money). I still watch the
> mature Illinois Basin
> > > field for promising prospects.  Micro-drilling holds
> some promise of
> > > cutting
> > > down well costs and there's still some hope for
> re-opening some
> > > previously
> > > capped wells IF the price of oil stays high.  There
> was a provision in
> > > the
> > > Energy Dept. bill passed two years ago to subsidize
> marginal wells
> > > starting
> > > around $18 per barrel to slow down the capping rate
> when the cost of
> > > electricity for lift exceeds the value of the oil. 
> No one really
> > > believes
> > > we'll see oil that cheap anytime soon so the
> provision is
> > > meaningless.  What
> > > would really help in the Illinois Basin and other
> mature fields is if
> > > electricity was cheaper.  The cost of 3D seismic
> keeps falling but it is
> > > still over $30,000 per acre.  You better be confident
> there's a
> > > prolific pay
> > > zone before you call the seismic team.
> > >
> > > Nukes anyone?  Hello?
> > >
> > > Brad
> > >
> > > On 2/14/07, R22RumRunner at aol.com
> <R22RumRunner at aol.com> wrote:
> > >>
> > >> I have a friend in Houston, TX who is an investment
> banker. He
> > >> mentioned
> > >> a
> > >> project he was working on for purchasing 55 square
> miles of land in
> > >> Texas
> > >> for
> > >> oil drilling. I told him that I thought all the oil
> was gone
> > from  Texas
> > >> and
> > >> this is his reply.
> > >>
> > >>
> > >> I might have thought the same thing.  I have a good 
> friend, a PHD
> > >> Geophysicist and former professor of geology at the 
> University of
> > Utah,
> > >> who thinks that
> > >> the oil and gas yet to be discovered is  equal to
> what has so far been
> > >> found.
> > >> He bases his conclusion on what he  describes as the
> reality of geology
> > >> vs.
> > >> what geologists "thought" about  geology.  He says
> that based on the
> > >> data
> > >> and
> > >> information  available 25 years ago anyone might
> conclude that the
> > >> product
> > >> yet
> > >> to  be discovered was declining.  The reality is
> that there is a huge
> > >> contrast  between the information available now
> about the subsurface
> > vs.
> > >> the
> > >> thinking before the advent of the technologies we
> now use in the search
> > >> for oil  and
> > >> gas.  The new technologies show that what was
> thought to be true, is
> > >> not.
> > >>
> > >> Most of the geophysicists I know say the same thing.
> > >>
> > >> I might add that what I do is move the  risks of
> investment in the
> > >> sector
> > >> to
> > >> the energy company - investors do not  participate;
> unless they
> > >> choose to
> > >> do
> > >> so by investing in a completely  separate
> investment.  The goal is to
> > >> invest
> > >> and get capital back in a short  period of time -
> low  risk
> > >>
> > >> __________________________________________________
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> > >>
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