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Monday, October 11, 2010

Hess Goes to Paris (France)

I had not planned to post about Bakken-like shale and exploration southeast of Paris (Paris, France, Europe) but more than one reader has expressed interest, so I will make an exception.

In addition, I was sent a long comment regarding Toreador's plans to drill into the "Parisian Bakken." The comment included a lot of links which don't translate well in the comment section of these blogs, so I will print the entire comment here.

The Original Comment (with some editing)

On May 10, 2010, TRGL announced a joint venture with HES to develop its then 1.04 million acres of Paris Basin, French acreage. TRGL, basically did nothing until mid-September when it started its “dog and pony” presentations.

See TGRL comparison chart.

Sept. 14, 2010:  Rodman & Renshaw presentation by TRGL’s commercial director, Tony Vermeire, used same 29 jetslides as later Sept 20, 2010, presentation by Craig M. McKenzie, President and CEO. The R&R webcast might be smoother and easier to deal with than the later Sept 20, 2010, Global Energy Conference webcast.

The 9/20/10 webcast Q&A period was obviously different. R&R webcast will be available for 90 days from 9/14/10. The webcast requires simple free registration before you are able to listen to R&R presentation. The 29 slide presentation had a lot of interesting Bakken Shale vs Paris Shale data.

[I looked at that presentation, and I agree. There are significant differences between the Parisian "Bakken" and the Williston "Bakken." I assume some of these links will break over time.]

R&R Q&A: 1.04 million gross acres with other partners; net TRGL 850,000 acres split 50/50 with HES.  Average duration of leases = 4.5 years. The first couple of wells will be vertical.


September 20, 2010 webcast: Toreador Resources Corporation Global Energy Conference.

Toreador Resources Corporation presents at SM's 2nd Annual Unconventional Oil Conference, Oct-11-2010 09:10 a.m.,  10/8/2010.

For those interested, there is a long TRGL message regarding the Paris Basis marketing at NextBigFuture.com, September 23, 2010:  "Paris Basin Shale Oil Could have more recoverable oil than the Bakken oil field." It is located on the IV TRGL bulletin board

Investopedia also covered the "Parisian Bakken."

2 comments:

  1. I was one of those who emailed a story about the "French shale". It is interesting because you can't think of an area much more explored than the outskirts of Paris but behold! Potentially more oil than Bakken. I wish them well but it show the potential of the technology used in the Bakken.

    In 2008 eight I heard that Turkey was starting to develop their shale with an estimated 600 year supply of oil and natural gas.

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  2. That reminds me: I need to find that article on "Peak Oil Theory." Laugh out loud.

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