Welcome: The new Blog for Fossil Oil Company!
For the past several years, Fossil Oil Company, LLC and its new affiliate, Fossil Oil Operating, LLC have been actively acquiring mineral leases, drilling and positioning itself to provide high quality investment opportunities in 2011 and 2012 for high net worth private participants, industry, institutional and accredited investors involving significant reserves of oil and natural gas. Fossil Oil is currently concentrating on drilling oil and gas wells especially as the price of oil continues to remain above $90 per barrel.
Fossil’s current drilling project for 2012 involves drilling multiple oil wells in Escambia County, Alabama (Southwest Alabama). The Fossil-Smackover Multi-Well JV will initially drill back to back two (2) Smackover prospects called the South Ingram and Roll Tide. The reserves potential for these two 3D seismic based prospects are estimated to be a total of 1,200,000 barrels of oil. Each well will be drilled to 14,500’ and test the prolific Upper Smackover formation. There are eleven (11) nearby oil wells to these two prospects that have produced in excess of 7,100,000 barrels of oil. Fossil Oil Company has again partnered with Choice Exploration, Inc. to operate and drill the first two of several Smackover oil prospects in this core area.
For additional investment opportunity information, the viewer is required to request both a user name and password on the sidebar link or below (see “Current Drilling Project Opportunities”) on our website’s Home Page.
Oil Jumps to 9-Month High After Iran Cuts Supply, Predicted to Hit $150
Oil prices jumped to a nine-month high above $105 a barrel on Monday after Iran said it halted crude exports to Britain and France in an escalation of a dispute over the Middle Eastern country’s nuclear program.
That news came even as a semiofficial Iranian news agency reported that Tehran is considering extending its oil embargo against France and Britain to other European countries.
The Mehr news agency quoted National Iranian Oil Co. Ahmad Qalehbani as saying that Tehran may stop crude exports to European Union members that continue “hostile acts” against Iran.
What’s more, Qalehbani predicted that oil prices could pass $150 a barrel, without specifying when.
Israel-Iran War Could Cause Oil Prices to Spike to $300 Per Barrel
The big wild card is the Middle East – particularly the chance of a war between Israel and Iran. According to investment newsletter veteran Richard Russell, the stock market would sell off big-time if a Mideast war unfolds:
I’ve been sensing something BIG and ominous is in the offing. What could it be? Ah, a front page article in Sunday’s NY Times supplies the answer. Israel will attack Iran with nuclear bombs. Israel must attack this year for this is the year when Iran will have nuclear capabilities.
Actually, the stock market is acting as though something momentous and frightening is ‘out there.’ The roof of a monster top is building.
Sounds a bit apocalyptic and I usually don’t reference such wackiness, but Russell has been publishing his Dow Theory Letters since 1957, is widely respected and by no means a crackpot, so his opinion is worth noting. Other crystal-ball gazers predicting a stock-market crash are John Hussman (also respected) and Joe Granville (no comment).
Intelligence analyst George Friedman of recently-hacked Stratfor places the odds of an Israeli strike at only 25%, but says that crude oil prices would skyrocket to $300 per barrel if it did occur. As I wrote in Best MLPs for $100 Oil, several energy-related master limited partnerships involved in exploration and production (E&P) as well as gathering and processing (G&P) are energy sensitive. Imagine how well they would do with $300 oil!
Of course, $300 oil would be a huge price shock that would likely ensure another economic recession.
Go to www.fossiloil.com to find out how you can benefit from the current conditions in the energy market.
Fossil President Dennis Kittler Visits Site For the Smackover Multi-Well JV in Escambia County, Alabama
Hello friends of Fossil, we have been doing a lot of exciting things and we are excited to tell you about our progress. First, Fossil President Dennis Kittler paid a visit to Escambia County, Alabama to the site of the Smackover here is an intro video of Mr. Kittler himself on site in Alabama! We hope you enjoy the video and we look forward to posting more updates on the current Joint Venture.
OIL PRICES OVER $100 AGAIN!
Go to www.fossiloil.com to find out how you can benefit from the current conditions in the energy market.
Choice Exploration Rated in the Top 100 US Private E&P Companies!
Choice Exploration, Inc.
January 30, 2012 – Choice Exploration, Inc., Fossil Oil Company’s Operator and Partner in our Smackover Multi – Oil Well Project, has advanced its ranking from 100 to 90 in US Private E&P Companies according the Oil and Gas Financial Journal, January 2012. Independent research firm IHS Herold Inc. has provided OGFJ with updated production data for our periodic ranking of US-based private E&P companies. The rankings provided by IHS are based on operated production only within the United States. See List…
First of two oil wells now drilling in Alabama!
Fossil’s current drilling project for 2012 involves drilling multiple oil wells in Escambia County, Alabama (Southwest Alabama). The Fossil-Smackover Multi-Well JV will initially drill back to back two (2) Smackover prospects called the South Ingram and Roll Tide. The reserves potential for these two 3D seismic based prospects are estimated to be a total of 1,200,000 barrels of oil. Each well will be drilled to 14,500’ and test the prolific Upper Smackover formation. There are eleven (11) nearby oil wells to these two prospects that have produced in excess of 7,100,000 barrels of oil. Fossil Oil Company has again partnered with Choice Exploration, Inc. to operate and drill the first two of several Smackover oil prospects in this core area.
You will find this multiple well oil project is very exciting with the 3-D seismic based Rayonier Timber #1 Well (14,500’ Smackover test) and S.A. Timberlands #1 Well (14,500’ Smackover test) providing significant economic upside to this JV. These exciting deep exploratory tests could provide a return of 4-6 times on your investment alone with estimated payout ranging between 13 – 26 months.
Precision Drilling Rig #86 commenced drilling the Rayonier Timber #1 well and it drilling at approximately 4,000′ this morning.
Two Deep Oil Wells Being Drilled By Fossil Oil Joint Venture
Fossil Oil management team has teamed up again with Choice Exploration, Inc. to operate and drill two (2) exciting deep oil wells in Escambia County, Alabama (Southwest Alabama). The Fossil-Smackover Multi-Well JV will initially drill two Smackover prospects called the South Ingram and Roll Tide. The reserves potential for these two 3D seismic based prospects are estimated to be a total of 1,200,000 barrels of oil. Each well will be drilled to 14,500’ and test the prolific Upper Smackover formation. There are eleven (11) nearby wells to these two prospects having produced in excess of 5,500,000 barrels of oil. Drilling is anticipated to commence this month as Choice is waiting for the drilling rig to arrive.
Fossil Oil Drilling a Deep High Pressure Yegua Formation Well in Harris County, Texas.
Fossil Oil’s management team is currently drilling an exciting 13,500’ Yegua test well in Harris County, Texas with its partner Choice Exploration, Inc. Fossil has just finished successfully drilling three (3) oil wells along the Texas Gulf Coast (Jackson County) and South Texas (Frio County). Fossil Oil is expecting a drilling rig to arrive in December to drill a new oil well in Frio County, Texas with its partner, Premier Minerals. Click here to get information on Fossil’s current investment opportunities.
Can You Believe It ?!!!
Oil Prices have been over $100 for over seven (7) days straight!
What is in a Barrel of Oil? Understanding the Demand
Unless you have spent the greater part of the past two years living under a rock or have been lost wandering in the wilderness, you have been inundated with a tremendous amount of information about oil, barrels of oil and the costs of barrels of oil. Of course, you have seen the final effect of the high price of a barrel of oil each time you pull into the local gasoline station to fill up … perhaps halfway … your automobile tank. With all that said, and having heard so much about barrels of oil in recent months, you may not even know what, exactly, is contained in a barrel of oil.
Please continue the rest of this informative article at www.quoteoil.com/oil-barrel.html