Zion Oil & Gas Inc (ZNOG)

[tisdal]

Bliss, I think this is what I was thinking of.

Alternative source

The idea that petroleum is formed from dead organic matter is known as the "biogenic theory" of petroleum formation and was first proposed by a Russian scientist almost 250 years ago.

In the 1950's, however, a few Russian scientists began questioning this traditional view and proposed instead that petroleum could form naturally deep inside the Earth.

This so-called "abiogenic" petroleum might seep upward through cracks formed by asteroid impacts to form underground pools, according to one hypothesis. Some geologists have suggested probing ancient impact craters in the search for oil.

Abiogenic sources of oil have been found, but never in commercially profitable amounts. The controversy isn't over whether naturally forming oil reserves exist, said Larry Nation of the American Association of Petroleum Geologists. It's over how much they contribute to Earth's overall reserves and how much time and effort geologists should devote to seeking them out.

If abiogenic petroleum sources are indeed found to be abundant, it would mean Earth contains vast reserves of untapped petroleum and, since other rocky objects formed from the same raw material as Earth, that crude oil might exist on other planets or moons in the solar system, scientists say.

Both processes for making petroleum likely require thousands of years. Even if Earth does contain far more oil than currently thought, it's inevitable that reserves will one day run out. Scientists disagree sharply, however, on when that will occur. And, some say, a global crisis could begin as soon as increasing demand is greater than supply, a possibility that might be measured in years rather than decades, some analysts argue.

Mysterious Origin and Supply of Oil