The Abiotic Theory is interesting, I cannot deny that. When the Majors start taking an interesting in the theory, that would lend it a bit more credibility. For now, only the Russians and a handful of college professors subscribe to the theory.
On the other hand, I'm pretty sure that It has been proven that CO2 reservoirs are charged as CO2 migrates from deep within the earth's crust. Some companies drill for CO2, so they can produce it & inject it into depleted oil fields. CO2 discoveries are usually found to be associated with ancient volcanic activity.
For now, the majority of scientists agree that both oil and natural gas originate from organic material that is deposited on the sea floor and later exposed to high temperatures.
On another topic suggested by DTL, I'm not so sure that TECO is being heavily shorted. Why do you think this to be the case?
On yet another Topic mentioned by Bull222, Yes with oil prices in the $85 to $100 a barrel range, the industry is very capital intensive. 3rd party service companies (who don't have any production themselves) want to get as much money as they can off the producers. I have heard it said that the service companies almost hold the producers hostage with their high cost. Worst still; when not over-paying service companies, producers are likely getting a nice shake-down from the regulatory authorities.
One of the reasons that I am interested in TECO is because they are one of the few producers who are saying that enough is enough. TECO would rather buy their own equipment, hire their own personnel, and drill or workover their wells. If TECO works out, then this may be a new trend we see breakout in small to mid sized producers.
Please let me know if you have any other small oil and gas companies that I might be interested in.
