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Mexicans say oil discovery could be biggest in decades

Tulsa World -- Pemex has found potential oil reserves of 125 million barrels after drilling a Gulf of Mexico deep-water well, Mexican President Felipe Calderon said Friday."We're finding an oil system that may be the biggest for the company in many, many years - maybe decades," Calderon said in Mexico City.

Petroleos Mexicanos, the state-owned oil company, says the Supremus 1 well is about 24 miles south of U.S. territorial waters. At 12,000 feet deep, Supremus 1 is the eighth-deepest in the world, Calderon said.

Pemex says the area known as the Perdido Basin contains prospective reserves that could amount to as much as 13 billion barrels of crude equivalent. If proven, that would double Mexico's current proven reserves.

Light sweet crude from Supremus 1 could account for about 10 percent ...

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Submitted Oct 06, 2012 By: BurntOrange

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DanMtz Champion Author Oakland Posts:3,360 Points:1,244,300 Joined:Oct 2009	Message Posted: Oct 8, 2012 12:39:11 PM Ignore DanMtz Report Abuse There's oil everywhere you look.
Martinman Champion Author Mississippi Posts:14,744 Points:2,094,805 Joined:Sep 2005	Message Posted: Oct 8, 2012 9:07:15 AM Ignore Martinman Report Abuse And ?
A2J Champion Author Richmond Posts:3,085 Points:604,900 Joined:Aug 2011	Message Posted: Oct 7, 2012 7:11:53 PM Ignore A2J Report Abuse Good for them
qwerty17 Champion Author New Jersey Posts:3,660 Points:1,119,625 Joined:Oct 2009	Message Posted: Oct 7, 2012 3:50:35 PM Ignore qwerty17 Report Abuse it's 12000 ft deep. i'm sure ther'll be no problems there.
el_fr Champion Author Massachusetts Posts:3,347 Points:746,650 Joined:Apr 2011	Message Posted: Oct 7, 2012 9:09:25 AM Ignore el_fr Report Abuse Drill sideways for 24 miles! :-)
ReadyWriter All-Star Author Columbus Posts:762 Points:40,855 Joined:May 2008	Message Posted: Oct 7, 2012 5:32:49 AM Ignore ReadyWriter Report Abuse This is what happens when too many whackos get in the way to allow OUR nation to find oil reserves like this and drill for them. We only need a couple of laxness experiences like the recent oil spill in the Gulf to keep ANY OTHER drilling from happening--one bad apple spoils the whole bunch, as they say.
UseLessGasFolks Champion Author Iowa Posts:5,456 Points:1,297,800 Joined:Jul 2007	Message Posted: Oct 7, 2012 2:40:02 AM Ignore UseLessGasFolks Report Abuse Only 24 miles south of U.S. waters...
Ahking Champion Author Orange County Posts:3,512 Points:604,425 Joined:May 2011	Message Posted: Oct 7, 2012 2:03:02 AM Ignore Ahking Report Abuse good for Mexico. Hope it'll be go for the u.s. too.
Zonk Champion Author Michigan Posts:6,491 Points:2,104,715 Joined:Oct 2005	Message Posted: Oct 7, 2012 12:26:22 AM Ignore Zonk Report Abuse Too bad for the OPEC boys.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Oct 7, 2012 12:20:50 AM Ignore tedjm1 Report Abuse okay
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Oct 7, 2012 12:15:40 AM Ignore pastorpaulcg Report Abuse Didn't they get the memo that we're not supposed to be drilling in the Gulf?
VomVom Champion Author Calgary Posts:3,857 Points:1,627,080 Joined:May 2007	Message Posted: Oct 7, 2012 12:15:16 AM Ignore VomVom Report Abuse This is good for Mexico and good for the USA. More Mexican imports means less OPEC ones.
bagman2010 Sophomore Author Peoria Posts:209 Points:137,840 Joined:Jan 2010	Message Posted: Oct 7, 2012 12:14:51 AM Ignore bagman2010 Report Abuse Just don't drink the water!
VomVom Champion Author Calgary Posts:3,857 Points:1,627,080 Joined:May 2007	Message Posted: Oct 7, 2012 12:13:42 AM Ignore VomVom Report Abuse Peak oil assessment was based on 1970's drilling and production technology. As technology develops, we are able to get to previoulsy un-reachable oil and produce it economically.
SteelPenny Champion Author Dallas Posts:30,990 Points:2,608,690 Joined:Sep 2005	Message Posted: Oct 7, 2012 12:12:32 AM Ignore SteelPenny Report Abuse Right.
TheSicilian Champion Author Jacksonville Posts:5,389 Points:1,471,700 Joined:Feb 2009	Message Posted: Oct 7, 2012 12:12:25 AM Ignore TheSicilian Report Abuse they don't have obummer
millerin Champion Author Orlando Posts:2,322 Points:483,315 Joined:Jan 2012	Message Posted: Oct 7, 2012 12:12:17 AM Ignore millerin Report Abuse hmm...
Blue_Cruzer Champion Author Lexington Posts:7,530 Points:1,671,535 Joined:Mar 2007	Message Posted: Oct 7, 2012 12:12:15 AM Ignore Blue_Cruzer Report Abuse I think we have to wait and see how much oil they actually pump.
Bigwaynef Champion Author South Carolina Posts:11,487 Points:2,082,710 Joined:Dec 2006	Message Posted: Oct 7, 2012 12:11:50 AM Ignore Bigwaynef Report Abuse I don't need no stinkin'...
cheap59 Champion Author Michigan Posts:4,240 Points:963,770 Joined:May 2010	Message Posted: Oct 7, 2012 12:11:10 AM Ignore cheap59 Report Abuse Somebody will continue to find it.
bugc Champion Author Boston Posts:15,061 Points:3,006,090 Joined:Mar 2004	Message Posted: Oct 7, 2012 12:10:56 AM Ignore bugc Report Abuse Great!
bra0712 Champion Author Arizona Posts:3,670 Points:770,295 Joined:Nov 2008	Message Posted: Oct 7, 2012 12:09:24 AM Ignore bra0712 Report Abuse Lol lol they said Mexicans lol
tatker Champion Author Asheville Posts:1,976 Points:561,780 Joined:Dec 2010	Message Posted: Oct 7, 2012 12:08:21 AM Ignore tatker Report Abuse Wahooo
1momsunshine Champion Author Ottawa Posts:5,500 Points:1,002,530 Joined:Mar 2010	Message Posted: Oct 7, 2012 12:07:09 AM Ignore 1momsunshine Report Abuse Interesting.
Night Owl Champion Author Toronto Posts:7,560 Points:1,788,550 Joined:Jul 2004	Message Posted: Oct 6, 2012 11:52:07 PM Ignore Night Owl Report Abuse Good going, Mexico.
LetemEatCake Champion Author Oklahoma City Posts:5,609 Points:1,207,330 Joined:Mar 2008	Message Posted: Oct 6, 2012 11:48:15 PM Ignore LetemEatCake Report Abuse Only if they drill in our waters, Che!
listerone Champion Author Boston Posts:3,385 Points:880,515 Joined:Aug 2008	Message Posted: Oct 6, 2012 11:14:08 PM Ignore listerone Report Abuse If only we could do more drilling in the Gulf.I wonder if the Mexicans and the Cubans ask Osama Obama for permission before drilling.
dh0770 Champion Author Colorado Posts:6,987 Points:672,460 Joined:Jun 2011	Message Posted: Oct 6, 2012 11:12:57 PM Ignore dh0770 Report Abuse Oops, don't tell Obama!
carranco Champion Author Georgia Posts:1,027 Points:269,765 Joined:Dec 2008	Message Posted: Oct 6, 2012 11:11:32 PM Ignore carranco Report Abuse Yes it is true Ovomit, there are massive amounts of oil yet to be discovered in the U.S. as well. We just have to vote you out of the way.
barber7796 Veteran Author Oklahoma Posts:426 Points:277,710 Joined:May 2012	Message Posted: Oct 6, 2012 10:36:16 PM Ignore barber7796 Report Abuse Does crude from the gulf cost lots less since they do not have to ship from the middle east?
YumaFellow Champion Author Arizona Posts:1,300 Points:624,545 Joined:Jan 2011	Message Posted: Oct 6, 2012 10:20:26 PM Ignore YumaFellow Report Abuse Mexican oil production has slumped in recent years. And Mexico is a lot closer than the Middle East. Should help our markets.
johton Champion Author Seattle Posts:1,225 Points:314,115 Joined:Jun 2012	Message Posted: Oct 6, 2012 10:11:15 PM Ignore johton Report Abuse Well that would be nice, but we should be the leaders!
ExplorerWA Champion Author Washington Posts:4,088 Points:799,100 Joined:Feb 2011	Message Posted: Oct 6, 2012 10:08:42 PM Ignore ExplorerWA Report Abuse That should be enough to supply the drug cartels for a while.
jjjleblanc Champion Author Rochester Posts:5,887 Points:1,521,255 Joined:Jun 2008	Message Posted: Oct 6, 2012 9:08:51 PM Ignore jjjleblanc Report Abuse Seems like we just keep finding more and more.
NedW Champion Author Indianapolis Posts:5,625 Points:1,144,195 Joined:Mar 2008	Message Posted: Oct 6, 2012 8:38:47 PM Ignore NedW Report Abuse Good for Mexico.
TableTalk Champion Author Virginia Posts:1,184 Points:558,700 Joined:Nov 2008	Message Posted: Oct 6, 2012 8:20:52 PM Ignore TableTalk Report Abuse At 12K feet, it's going to be expensive to get it out.
davenles Champion Author Texas Posts:3,206 Points:720,610 Joined:May 2011	Message Posted: Oct 6, 2012 7:42:38 PM Ignore davenles Report Abuse Now to get it out.
ktbaeohana Champion Author Las Vegas Posts:2,311 Points:422,975 Joined:Mar 2010	Message Posted: Oct 6, 2012 7:05:35 PM Ignore ktbaeohana Report Abuse good news for mexico. watch and see.
thizben All-Star Author Phoenix Posts:605 Points:285,395 Joined:May 2011	Message Posted: Oct 6, 2012 7:00:32 PM Ignore thizben Report Abuse cool, so prices should come down, right? right? um...right?
merlinCO Champion Author Colorado Posts:1,650 Points:343,345 Joined:Mar 2012	Message Posted: Oct 6, 2012 6:11:23 PM Ignore merlinCO Report Abuse Sell it to the Chinese so the Canadians won't build the pipeline
AlienBug All-Star Author Connecticut Posts:732 Points:218,035 Joined:Jul 2011	Message Posted: Oct 6, 2012 6:00:52 PM Ignore AlienBug Report Abuse And they're protecting it with Fast n Furious guns.
swampman Rookie Author Ontario Posts:79 Points:508,405 Joined:Apr 2011	Message Posted: Oct 6, 2012 4:34:27 PM Ignore swampman Report Abuse YA OK
northeast2 Champion Author New York Posts:3,849 Points:1,007,200 Joined:Mar 2008	Message Posted: Oct 6, 2012 4:05:52 PM Ignore northeast2 Report Abuse "At 12,000 feet deep, Supremus 1 is the eighth-deepest in the world, Calderon said." Which means it's not easy or cheap to extract.
BuckyTJones Champion Author Salt Lake City Posts:4,932 Points:967,950 Joined:Mar 2010	Message Posted: Oct 6, 2012 3:18:41 PM Ignore BuckyTJones Report Abuse Think of the gun sales to Mexico now. It wont all be drug money, right Eric Holder?
molebaby96 Champion Author Tallahassee Posts:2,126 Points:506,890 Joined:Nov 2011	Message Posted: Oct 6, 2012 3:14:17 PM Ignore molebaby96 Report Abuse Good.
Tehbob Champion Author California Posts:2,306 Points:459,555 Joined:Jan 2012	Message Posted: Oct 6, 2012 2:02:19 PM Ignore Tehbob Report Abuse Muy bueno!
BUSMAN1105 Champion Author Atlanta Posts:2,167 Points:1,172,870 Joined:Aug 2008	Message Posted: Oct 6, 2012 1:00:45 PM Ignore BUSMAN1105 Report Abuse GOOD FOR MEXICO. I HOPE THEY USED THE NEW PROFITS ON THERE ECONOMY!!!!!!!!
doggod Champion Author Anchorage Posts:2,858 Points:743,310 Joined:May 2009	Message Posted: Oct 6, 2012 12:56:15 PM Ignore doggod Report Abuse Terrible news for the chicken-littles who have been yelling for decades about running out of oil.
ss70 Champion Author Detroit Posts:9,677 Points:1,872,050 Joined:Sep 2005	Message Posted: Oct 6, 2012 12:50:11 PM Ignore ss70 Report Abuse lucky them
EnergyEngineer Rookie Author Oklahoma Posts:90 Points:19,355 Joined:Sep 2012	Message Posted: Oct 6, 2012 12:33:41 PM Ignore EnergyEngineer Report Abuse We use 21 million barrels of oil per day in this country. How long will this last?