Posts Tagged ‘Investing’

Oil Investors Better Protected Under New SEC Rules

January 5, 2009

 

oil investors better protected under new SEC rules
As from last week, under new Securities and Exchange Commission (SEC) rules, investors will have much more information on which to base their investment decisions. Business Week ¬†reports that the changes, the first in 25 years, are intended to reflect improvements in the technology used by companies to determine their proven reserves. It also requires that petroleum companies’ assessments of their reserves be independently audited.

For a complete list of the new revisions see the full article here – http://www.businessweek.com/ap/financialnews/D95CJU0O1.htm – but, overall, these changes should provide better protection for the investor in terms of allowing him or her to make informed decisions.

Advertisements

Talon Energy Seeks to Re-open Abandoned Oil Wells

July 16, 2008
A typical salt dome development

A typical salt dome development

You sometimes hear of coal mines that are re-opened because rising prices have made what were once economically unviable deposits viable once again. Now one company is looking at doing the same thing with abandoned oil wells. Talon Energy Company (www.talonenergycompany.com) was set up specifically with the intention of developing oil and gas resovoirs in ‘shut-in’ or abandoned wells.

Many of these wells still have viable resovoirs of gas or oil but were overlooked because the logging tools used when the well was originally opened were nor sufficiently technically advanced enough to detect all the available deposits. In particular, it is certain formations that have this potential for undetected resovoirs, and ones that were recorded prior to the 1970’s before the introduction of radioactive logging tools.

Talon’s strategy is to take advantage of a number of State initiatives aimed at finding new methods of offsetting problems caused by oil industry activities, and acquiring a number of abandoned salt dome fields which fall within a series of suitable criteria. It would seem that there may be life left in many a well once considered exhausted. In times such as these they could very well become commercial viable once again. Anyone interesting in investing in such projects, and that have a minimum of $100k to invest, should contact the company via its website.