Massive Oil Deposit

America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.

In the next 30 days the USGS (U.S. Geological Survey) will release a new report giving an accurate resource assessment of the Bakken Oil Formation that covers North Dakota and portions of South Dakota and Montana. With new horizontal drilling technology it is believed that from 175 to 500 billion barrels of recoverable oil are held in this 200,000 square mile reserve that was initially discovered in 1951. The USGS did an initial study back in 1999 that estimated 400 billion recoverable barrels were present but with prices bottoming out at $10 a barrel back then the report was dismissed because of the higher cost of horizontal drilling techniques that would be needed, estimated at $20-$40 a barrel.

It was not until 2007, when EOG Resources of Texas started a frenzy when they drilled a single well in Parshal N.D. that is expected to yield 700,000 barrels of oil that real excitement and money started to flow in North Dakota. Marathon Oil is investing $1.5 billion and drilling 300 new wells in what is expected to be one of the greatest booms in Oil discovery since Oil was discovered in Saudi Arabia in 1938.

The US imported about 14 million barrels of Oil per day in 2007 , which means US consumers sent about $340 Billion Dollars over seas building palaces in Dubai and propping up unfriendly regimes around the World, if 200 billion barrels of oil at $90 a barrel are recovered in the high plains the added wealth to the US economy would be $18 Trillion Dollars which would go a long way in stabilizing the US trade deficit and could cut the cost of oil in half in the long run.

Deposits

The Bakken Formation has fast become the hottest onshore oil play of this decade, revitalizing considerable interest throughout the Williston Basin.

Recent activity in Montana, Manitoba and now North Dakota and Southeastern Saskatchewan opens a vast productive fairway. The Middle Bakken siltstones and sandstones are sandwiched between the best known source rocks in the Williston Basin. We recognize three distinct petroleum systems-based play types: overpressured (basin-centered oil), transitional (within mature source rocks) and migrated.

The play holds the promise of 3.6 billion barrels of technically recoverable oil south of the border1 and 1.3 billion barrels in Southeastern Saskatchewan2. With substantial variations in facies and reservoir properties, each play type requires its own technological key to

Bakken Play is Huge!!

The Bakken oil play stretches across Montana, North Dakota and into Southeastern Saskatchewan. We're talking about some potentially massive reserves of oil, too. The amount of oil in place has, most recently, been estimated between 271 billion and 503 billion barrels of oil.

Even if we take the lower estimates, that's still a huge amount of oil, far more than the 36 billion barrels of oil believed to be in Alaska's North Slope. Let's just say that North Dakota oil production has been growing significantly. Crude oil production has been strong, up to about 40 million barrels in 2006. That's roughly a 20% increase since 2004.

Saskatchewan is setting up to be a serious force in the Canadian oil industry. Underneath the south eastern section of Saskatchewan is part of the Bakken formation. The entire Bakken play lies underneath south eastern Saskatchewan, western Manitoba and North Dakota.

Oil @ $225.00 per barrel

West-central Saskatchewan, which is considered to have great potential for future production, is estimated to be 25 billion barrels of oil in place.

The huge potential of the Bakken play has industry and government officials gushing with superlatives.

The Bakken is the hottest play in Western Canada, and Crescent Point Energy Trust of Calgary, one of the top three players in the Bakken in Saskatchewan.

Petrobank Energy and Resources, Painted PonyPetroliem, Panterra Resources, all have large tracks of land, with large number of target drill.