Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Quebec stands on the verge of becoming a major natural gas producer, as a U.S. energy company has reported significant discoveries of shale gas that could transform the region into North America's next hot new exploration zone.
Forest Oil Corp., a Denver-based oil and gas company, has said that its Utica shale prospects in the St. Lawrence Lowlands, between Montreal and Quebec City, could hold as much as four trillion cubic feet of natural gas reserves.
While exploration is in an early stage, Forest plans to roll out an extensive drilling program in the region starting in 2010 if extra drilling and testing proves the gas can be commercially recovered.
Forest said the Utica shale, which has at least two prospective horizons, averages 500 ft thick at 2,300-6,000 ft. Most of the shale's rock properties are similar to those of the Barnett shale in North Texas.
Now let's look at what's been going on in the Barnett Shale.
Texas Barnett Shale Gas Production
(1993 through 2006) Source
Joined: May 13, 2007 Posts: 595 Location: Athabasca, Alberta
Posted: Wed Apr 02, 2008 10:28 pm Post subject: Re: Gas find may spur drilling in Quebec
Liars, damn liars, and statisticians.
Anyway boy! Go to your company librarian and see if you can get a report by T. H. Clark for the Quebec Department of Mines, I think it was called Oil and Gas in the St Lawrence Lowlands. He wrote it in the sixties. Read it then go and invest heavily in the Utica gas play. Remember the saying about putting you money where you mouth is. _________________ Appuis ait fabrum esse suae quemque fortunae.
Alias Redneck
Over the last two years, Forest has accumulated approximately 269,000 net acres, under lease or farmout, in the St. Lawrence Lowlands in Quebec, Canada. Two vertical pilot wells were drilled in 2007, testing the Utica Shale, to a total depth of approximately 4,800 feet. Production rates tested up to 1 MMcfe/d. Although the play is still in the early stages, Forest believes the initial results are encouraging due to the following factors:
-- Shallow depth of the shale
-- Rock properties are comparable to other more established shale plays
-- High-quality natural gas with minimal impurities
-- Infrastructure in place with nearby access to major pipelines
-- Premium natural gas pricing to NYMEX makes the economics compelling
Forest plans to drill three horizontal wells in 2008 to refine its drilling and completion techniques. Based on technical data and the vertical pilot well program, the preliminary net resource potential on Forest's acreage is estimated to be approximately 4 Tcfe. First production is expected in 2009 with the potential for a full scale drilling program in 2010 and beyond.
I guess you fart alot, Blacksmith!
Blacksmith wrote:
Go to your company librarian and see if you can get a report by T. H. Clark for the Quebec Department of Mines, I think it was called Oil and Gas in the St Lawrence Lowlands. He wrote it in the sixties..
Um, that was back in the sixties -- I'm sure they were saying the same thing about the Barnett Shale back then. A lot has changed since the sixties, not the least of which is the ability to extract gas from shales, as witnessed by the Barnett results.
Posted: Wed Apr 02, 2008 10:44 pm Post subject: Re: Gas find may spur drilling in Quebec
Well, here's a more recent geologist's analysis of the Utica Shale - just a few years old. This seems to focus on the NY part of this particular shale, but of course geologic formations don't obey national boundaries. And perhaps it also shows this play could extend into NY.
UTICA SHALE DEPOSITION IN THE TACONIC FORELAND BASIN: EVOLUTION AND THE POTENTIAL FOR NATURAL GAS PRODUCTION
MARTIN, John P., NYSERDA, 17 Columbia Circle, Albany, NY 12203
One of the oldest and most widespread black shales is the Utica Shale. It was deposited very broadly across the Appalachian Basin and covers thousands of square miles. In New York, depth varies from outcrop to depths over 9,000 feet in the southern portion of the state. Thickness varies from tens of feet in the west to over 1,000 feet in the east.
The Utica is a massive, fossiliferous, organic-rich, thermally-mature black to gray-black shale, and is considered to be the source rock for Lower Devonian through Cambrian hydrocarbon production and shows. The shale was deposited in a deep marine basin with a subsiding trough that generally trended north-south. It interfingers with the basal Dolgeville Formation, which is composed of alternating beds of limestone and shale. Source rock for the organic-rich black shale was supplied from the eroding Taconic highlands to the east. As the deep marine trough was filled in, the deposition of the upper formations of the group spread westward. The westward migration was periodic which is reflected in the presence of a number of facies intervals, which are bounded by unconformities or condensed intervals. Each unit represents a pulse of subsidence and subsequent sedimentation in the basin. Each interval onlaps argillaceous limestone, and has shifted westward with respect to the underlying unit. Each depositional interval records a deepening event. Stratigraphic work to date indicates that each overlying black shale unit is thinner than the previous one.
Units of the Utica have significant fracturing and abundant pyrite indicating deposition in anoxic conditions. The shale is sub-bituminous and “fresh samples can be ignited.” If a fresh sample is submerged in water, “an oily sheen rises to the water's surface.” Though data is sparse, TOC’s has been measured at over 3% by weight in New York, Ontario and Quebec. Analysis of cores show that the Utica thermally-mature with some mobile oil. Gas shows have been encountered in wells in eastern and central New York.
Current shale plays such as the Barnett and Antrim show that every shale play is somewhat unique, each with its own characteristics and problems. It is clear that the fractured Utica Group Shale offers the potential to be an economic natural gas play. More research is needed that addresses the geologic and reservoir properties of the shale.
BTW this link contains this guy's email. If you doubt him perhaps you could send him a note.
Joined: May 13, 2007 Posts: 595 Location: Athabasca, Alberta
Posted: Wed Apr 02, 2008 10:48 pm Post subject: Re: Gas find may spur drilling in Quebec
Gerald Friedman told me the same crap, when he fronted a company drilling in New York. _________________ Appuis ait fabrum esse suae quemque fortunae.
Alias Redneck
Last edited by Blacksmith on Wed Apr 02, 2008 10:58 pm; edited 1 time in total
Posted: Wed Apr 02, 2008 10:57 pm Post subject: Re: Gas find may spur drilling in Quebec
Blacksmith wrote:
Gerald Fredman told me the same crap, when he fronted a company drilling in New York.
Well in addition to Forest Oil, here are at least four other oil/gas companies supposedly being duped by this, in addition to Mr. John P. Martin, the geologist in my link above.
Among the Canadian companies that hold acreage in the play are Gastem Inc., Montreal, Junex Inc., Quebec City, and Questerre Energy Corp. and Talisman Energy Inc., Calgary.
I'm sure all the geologists of all of these companies are wrong, and you and some geologist back in the 60's are right.
Joined: May 13, 2007 Posts: 595 Location: Athabasca, Alberta
Posted: Wed Apr 02, 2008 11:02 pm Post subject: Re: Gas find may spur drilling in Quebec
You remind me somewhat of the guys who sold junk bonds and said it was new economics, or the people who offered sub-prime morgages. _________________ Appuis ait fabrum esse suae quemque fortunae.
Alias Redneck
Forest said the Utica shale, which has at least two prospective horizons, averages 500 ft thick at 2,300-6,000 ft. Most of the shale's rock properties are similar to those of the Barnett shale in North Texas.
Now let's look at what's been going on in the Barnett Shale.
Texas Barnett Shale Gas Production
(1993 through 2006) Source
Joined: Dec 28, 2005 Posts: 294 Location: Toronto, Ontario
Posted: Thu Apr 03, 2008 12:30 am Post subject: Re: Gas find may spur drilling in Quebec
I wish that this find actually was as big as reported. At least then Quebec would stop siphonining off money from Ontario and Alberta for the promotion of their welfare province and separatist agenda. I'm pretty sure that a newly resource wealthy Quebec would be extremely reluctant to give back to the rest of Canada some of the vast amount of money it's taken, and would in all likelihood finally vote for secession with this financial incentive in place.
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