4.2 Billion Barrels of Oil under Gas?

December 1, 2010

The Leviathan partners say that at their site, offshore of Israel, there is a 17% probability of geological success in finding 3 billion barrels gross unrisked mean resources available for production at a depth of 5,800 meters [19,029 feet] and an 8% chance of finding a reserve of 1.2 billion barrels at a depth of 7,200 meters [23,622 feet].The two structures with oil are below a structure with a 50% probability of geological success of having 16 trillion cubic feet of natural gas.

The Leviathan partners caution that it is premature to decide whether to drill wells into the two deep [oil] structures, and that a decision will be made after critical information is obtained during the drilling of Leviathan's natural gas structure. That well is scheduled for late October. The partners also announced the development plan for the huge natural gas reserves located at a depth of about 5,361 feet [1,634 meters] , about 84 miles [135 kilometers] west of Haifa, in Israel's north.

Source: By www.israel 21c.org