Perhaps all "expert" comments should be viewed with extreme...

Perhaps all "expert" comments should be viewed with extreme caution as it seems that existing positions are an issue.

Rather than these snapshots of opinion that we are reading on Hotcopper, I, as a "non-expert" rely on more comprehensive reports. An excellent one is from Wilson HTM and since I found it in Google I include the link for some interesting holiday reading:

http://www.maverickdrilling.com/SiteFiles/maverickcomau/MAD20120720-Initiation_of_Coverage.pdf

Interesting stuff includes:

In May 2012 Denbury announced it would acquire a 100% working interest (84.7% net revenue interest) in the Thompson Field in Fort Bend County in Texas, for $US360m in cash. Thompson field is location between Blue Ridge Dome and Nash Dome. The field was producing 2.2 kbd and had estimated remaining conventionally recoverable reserves of 17 mmbbl, implying a reserves value of $US21/bbl. The 8,454 acre field was discovered in the 1930’s. Oil production from the field peaked in 1974 at ~41 kbd.

There is also an interesting diagram on Page 3 showing the extent of the Louann salt deposition indicating that a lot these targets are in the Gulf. My understanding is that the Houston salt domes are an anaologue of these with much lower drilling costs.