Replies to post #19266 on Treaty Energy Corp. (fka TECO)

[dloggold]

I thought that article was interesting in that they lowered the odds from 1/12 to 1/8. Oiljob you had mentioned much lower odds for us finding oil previously. Is the reality of finding commercial onshore more like 1/8?

[farviewhill]

Good post.
We will need any dollars generated from coastal sandstone drilling, as my understanding is that deeper, off shore drilling is an entirely different and hugely expensive undertaking requiring special rigs capable of reaching the deeper depths, etc.
With what seems to be the current 'slowdown' in deepwater drilling, I'm led to believe that rigs are fairly readily available at some what 'reduced' daily prices?