Question for the oil experts?
I am a little confused on how deepwater oil is drilled. I have vision of the old days when you see oil gushing from an oil derrick and all the oil workers are covered with oil. Obviously that was decades ago but is the technology such that now they drill down, find oil and or gas, cap it and move on to the next drill site? I am guessing they cap it and then build the platforms, etc to start extracting the oil.
I have been holding this stock since Jan 01 or 02...can't remember it has been so long. I was hoping that when we drilled the first hole and found oil, it would hit every newspaper in the world. I guess it doesn't work that way....unfortunately.
No one can ever say I am not a patient man but dang it....COM' ON MAN!!!!!!!!!!!!!!!!
Thanks,
blong