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Post# of 116863
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Belize Oilwatch

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Belize Oilwatch

Re: tdbowieknife post# 59232

Monday, 06/10/2013 8:37:34 PM

Monday, June 10, 2013 8:37:34 PM

Post# of 116863
A few facts about oil exploration and Treaty wells in Belize.

Oil exploration is a risk business - this is a very different business to drilling up existing oil leases in the USA. The current success rate for wildcat exploration wells drilled after seismic, quoted by the President of the American Association of Petroleum Geologists (AAPG) is 1 in 10 - 90% of wells do not find commercial oil.

San Juan #1 and #2 were not located using seismic, but San Juan #3 well (located at about 16 Q 0337969 1831884 UTM according to my GPS) is located on Esso Seismic Line B76A-013.

Just facts.
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