I have heard about the Russian well, if it is the one that I'm thinking about. The Russians believed in the the abiotic theory, and set out to drill a well through the earth's crust into the mantle where they hoped to find an inexhaustible supply of natural gas.
From an economic standpoint, I know that the relationship between well depth and well cost or well depth and drilling time share an exponential relationship. This relationship suggest that he Russians will never finish the well or reach their targeted depth. This is good because it would likely result in a man-made volcano.
At one time, that was the deepest well in the world, but their progress slowed when they hit the Earth's crust at something like 30000+ feet. It is very hard to drill through the earth's crust. BP recently drilled a well to 35000 ft in the Gulf of Mexico, and I believe that this is the deepest well in the world. BP was only able to do this because there is so much sediment in the Gulf of Mexico. In some places, there there is more than 40000 feet of sediment in the Gulf of Mexico.
I just looked that up. i bet that there is so much sediment there because of all the large rivers that flow into the Gulf, but I don't know.
How large is TECo's offshore concession in Belize? I don't know a lot about it, but I suppose that it could parallel some of the assets that drive HDY & EHRE's businesses.
Disclaimer: I am not a fan or, nor an I invested in HDY, ERHE, WGAS, or ECCE. Though at one time I did make a lot of money shorting HDY.
