Massive Oil Pool Discovered In Converse & Natrona Counties
Deep oil has been discovered under Converse and Natrona counties, Wyoming.
Canadian Overseas Petroleum Limited and its affiliates have received a Resource Report confirming the discovery from its affiliate COPL America Inc. (World Oil).
COPL is an international oil and gas exploration, production, and development company.
The Wyoming deep discovery might be as much as 993.5 million barrels.
This study is independent verification of what was announced in January 2022. (World Oil).
The Report only evaluates COPL's working interest leasehold at the Cole Creek Unit, the non-unit working interest leasehold immediately to the north and east of Cole Creek, and includes the western portion of the Barron Flats Federal Deep Unit. (Anton Coop Assn).
'This independent Report validates what we announced at the start of the year and highlights the significant potential of our fantastic Wyoming asset,'said Arthur Millholland, President & CEO. 'Compiled to Canadian regulatory standards, the Report gives a conservative view, and we expect to see further exploration upside in due course once our drilling program gets under way in the coming months. Following on from the recent financing and completion of the Cuda Energy acquisition, this Report is another step forward as we transform into an oil producer of scale.' (World Oil).
There is a lot of work to be done, now that they have a good idea of what is down there.
The next question would be about government regulations which have made it more than just a little difficult for companies to extract oil and send it to market.
Watch the video below and see President Biden promise multiple times to end Coal Gas and Oil during his term.
It's one thing to get the oil out of the ground. Then there is the question of refining it.
As of January 1, 2022, there were 130 operable petroleum refineries in the United States.
Since then America has been closing refineries and the few we have are getting old and are running at capacity.
In the meantime, President Biden has been going to foreign countries to ask for more oil and more refinement.