I know that almost all of you have probably seen this ad …
“Texas Company Tapping $2.8 Trillion Oil Reserve… Under the Eiffel Tower
“Tiny company from Dallas preparing to extract 40 billion barrels of crude oil from beneath Paris, France…
“Discovery big enough to fuel U.S. demand for 5.2 years, according to Energy Information Administration…
“Estimates show 4,620% gains for investors who get in now… before this oil comes to market…”
Now that’s a good teaser, eh? I can just picture Gustave Eiffel’s engineering masterpiece as an oil derrick, spouting crude in a massive burst over the tour boats on the Seine. Good stuff.
And of course, many of you know who this company is already, since I mentioned it in the email about a week ago (that’s a lesson to all of you — sign up for the free Daily Update email if you want all the info!) … but I didn’t go into any detail, or confirm the guess, so let’s get into it.
The ad is for the Money Map Report, one of many confusingly-named letters in the great Agora universe, and the letter’s from publisher Mike Ward. He’d like you to sign up for your $50 subscription to learn about this Paris oil driller … feel free to subscribe, if you like, but if you just want the basic info, read on …
Here’s what they say about the discovery, and how it was made:
“The Forgotten Treasure beneath the City of Lights
“Known as the Paris Basin, this layered formation juts thousands of feet into the earth. It forms an oblong bowl 310 miles long and 186 miles wide.
“At the basin’s surface you’ll find vineyards producing the finest wines in the world, along with gourmet cheeses and other natural wonders. (Dom Perignon Champagne comes from a small town resting atop the basin.)
“But beneath that gilded soil – with the Eiffel Tower near its epicenter – the geological team from Texas discovered huge crude oil deposits….
“Their estimates showed 30 million barrels, at least. But they needed more time, and money, to complete their surveys.
“When a Small Company Risks Everything and Wins
“So the company (we’ll call it the “Tiny Texan”) decided to take an enormous risk.
It sold off its U.S.-based operations. Every oilfield, well and piece of equipment went up for sale.
“Then they took the millions in proceeds and poured them into the Paris project.
“Shortly after doing so, the company confirmed the first 30 million barrels. (Just as quickly, it purchased the rights to that discovery from the French Oil Ministry.)
“But what nobody knew at the time was just how big the discovery would become.
“The geologists hadn’t actually confirmed the physical limits of the accumulation.
“Discovery Grows from $5.04 Billion… to $2.8 Trillion
“So the company decided not to bring the oil to market – yet. The geologists continued surveying.”Are you getting our free Daily Update
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So that part, at least, is certainly real — the Paris Basin has been producing oil for a long time, and for a while back in the early 1980s they even had a bit of an oil boom, with Parisians surprised to see the seismic data collection trucks in downtown Paris. But the oil, though it’s still being produced from some substantial fields in the basin, wasn’t easy enough to extract, or the reservoirs not as dramatic as had been hoped, and a lot of the oil exploration tailed off for 20 years or so.
And there is apparently some urgency to this story …
“In November 2009, the Tiny Texan will switch on Oil Well #1, on the outskirts of Paris, tapping into the first 30 million barrels.
“This historic event would be enough to triple the company’s oil inventory. And it’ll certainly be enough to jolt the bottom line, and launch this story into the mainstream investing media.
“The importance of getting in before the big event cannot be overstated.
“But this is merely the beginning.
“The Tiny Texan has an additional seven wells coming online right afterwards. They’re located to the south of the city, too.
“Combined, the first eight wells will tap into 66 million to 72 million barrels worth about $4.6 billion