Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Listen lets be clear this is priced at present for 15 barrels a day and all the press are saying its went upto 600 a week so the price should really be through 1p+ its not rocket science just numbers
Another well "Schwarzbach 3" planned https://www.main-spitze.de/lokales/kreis-gross-gerau/riedstadt/was-es-mit-dem-erdoelfund-bei-riedstadt-auf-sich-hat-2783556
The new well could produce 600 barrels of oil a day, or 95,400 liters, says the manager. That would be a significant increase on the previous yield from the neighboring "Schwarzbach 1" well, which has been delivering 629 barrels, 100,000 liters of crude oil per week. "We are very happy and happy that our good planning has now also led to a direct hit," emphasizes Appel. After all, only every third well is successful on average.
An independent expert has identified an oil reservoir of 3.8 million barrels for "Schwarzbach 2".
the well exceeds the expectations of the Heidelberg company. Not only have larger quantities of better quality crude oil been encountered, the oil-bearing reservoirs are also closer to the surface than forecast - which are also easier to reach than expected.
currently many indications "of an interesting deposit" that is above expectations in terms of both quantity and quality: "First measurements and tests show that the geological structure is significantly oil-bearing.” The corresponding layers at a depth of around 1700 meters are thicker than assumed before the well was used to explore the deposit. Further tests are to follow.
The first laboratory tests have shown that the oil is of very high quality: "It is light, low in sulfur and rich in valuable ingredients," said the Heidelberg-based company. The oil is therefore particularly suitable for industrial processing and the manufacture of products such as pharmaceuticals or high-quality plastics.
"Interesting occurrence" - Heidelberg company again with oil discovery in southern Hesse
08/24/2023 09:56 https://www.heidelberg24.de/heidelberg/riedstadt-erdoel-heidelberger-firma-probebohrung-suedhessen-rhein-petroleum-92478363.html
Heidelberg - The company Rhein Petroleum has found oil again during exploratory drilling in Ried in southern Hesse. In terms of quantity and quality, the deposit seems to exceed expectations:
The Heidelberg company Rhein Petroleum has once again found oil in Riedstadt in southern Hesse. "There are many indications of an interesting deposit that is above our expectations in terms of both quantity and quality of the deposits," explains Rhein Petroleum Managing Director Peter Appel. According to a company statement, the oil-bearing strata at a depth of around 1,700 meters are “significantly oil-bearing”.
The oil layers are thicker and shallower than assumed before the "Schwarzbach 2" exploration well. The permeability of the rock is also "promising", explains Appel. Further tests are to follow. Initial laboratory tests have shown that the oil is of very high quality: "It is light, low in sulfur and rich in valuable ingredients," Appel is quoted as saying. The oil is therefore particularly suitable for industrial processing and the manufacture of products such as pharmaceuticals or high-quality plastics. Rhein Petroleum has been producing oil in the area since 2018 . From there, the raw material from the Hessian Ried is transported by truck to the nearby refinery in Karlsruhe. The "Schwarzbach 1" production facility required for oil production could also be used for the new oil discovery. According to the company, around two percent of the crude oil consumed nationwide is currently produced in Germany.