ERHC Energy Inc (ERHE)

[bayfisherii]

Walldog,

Saudi Arabia and the world have relied on Tha Gawar reservoir for the past 30 years. It was and still is the largest single reservoir ever found. While it is a moving target estimates are that it will end up over 65 Billion recoverable barrels. So no they cannot produce oil in the past historic quantities out of these massive end of life Giants.
Estimates at one time were that the lifting cost for this reservoir was under $2.oo per barrel, now those have gone up as they have applied new recobery methods (water flood, miscible sweep, etc). So no there 'probably' are not any more Gawars out there. And in the future we will have to work harder and get our energy from the thousands of smaller reserves still out there.