Transocean Inc. Announces Petrobras Approval of Contracts for Four Brazil-based Rigs
HOUSTON, July 15, 2008 (PRIME NEWSWIRE) -- Transocean Inc. (NYSE:RIG - News) today announced that the board of directors of Petroleo Brasileiro S.A.(Petrobras) has approved contract awards for four of the company's rigs totaling 22 rig years and approximately $3.0 billion in combined estimated contract revenues. Estimated contract revenues for each rig represent the maximum amount of revenues that may be earned in the applicable contract period, including revenues from a 15% additional rate, payable unless rig downtime exceeds 5 percent, and excluding revenues from cost escalation and demobilization. The approved contracts are expected to be executed by subsidiaries of Petrobras and Transocean in the next 30 to 60 days.
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GEOLOGISTS DON'T COMPREHEND WHAT THEY OBSERVE
The following abstract was provided by a geologist:
"The Late Archaean Witwatersrand Supergroup of South Africa hosts the largest known gold-uranium-pyrite ore deposits. Oil preserved in fluid inclusions in quartz grains in siliciclastic sedimentary rocks of that supergroup implies that hydrocarbon generation and migration occurred during the Archaean, and may have been involved in mineralization processes. Through reference to Phanerozoic analogues, oil-bearing fluid inclusions entrapped in healed microfractures in detrital quartz grains and in early syntaxial quartz-overgrowths imply, that the onset of oil migration coincided with early to intermediate stages of burial, while intra-granular porosity was still preserved. Multiple generations of oil migration are indicated by: (i) oil inclusions within early diagenetic cements at different levels in the stratigraphic succession; (ii) more than one type of oil in entrapment sites; (iii) oil entrapment in multiple stages of the quartz paragenetic sequence. Oil generation and migration are considered to have occurred throughout, and for some considerable time after, development of the Witwatersrand Basin, consistent with progressive burial and kerogen maturation in more than one tectonic regime. Oil-bearing fluid inclusions within detrital sandstone fragments suggest that oil migration also occurred in a sedimentary succession on the Kaapvaal Craton prior to 2.9 Ga. Oil in the Witwatersrand Supergroup was most likely derived from multiple source areas, with the principal source probably being shales within the lower Witwatersrand Supergroup. The hydrocarbon migration history of the basin has important implications for understanding the textural relationship between gold, bituminized oil and uraninite in the giant gold-uranium-pyrite ore deposits."
I quote the following highlights and explain:
"The Late Archaean...Oil preserved in fluid inclusions in quartz grains...implies that hydrocarbon generation...occurred during the Archaean, and may have been involved in mineralization processes."
"...oil-bearing fluid inclusions entrapped in healed microfractures..."
"...more than one type of oil in entrapment sites..."
"...the Kaapvaal Craton prior to 2.9 Ga. Oil in the Witwatersrand Supergroup was most likely derived from multiple source areas..."
"...The hydrocarbon...history of the basin has important implications for understanding the textural relationship between gold, bituminized oil and uraninite in the giant gold-uranium-pyrite ore deposits."
As you can see, or now review, all references to "fossil" theory have been stripped away from the abstract:
What does it all mean.
First look at the "age" of the deposits, 2.9 Ga. That's old folks. It's not clear what type of life was even on the scene at that point.
But then there is this: "Oil preserved in fluid inclusions in quartz grains.."
But this is much more suggestive of Abiotic processes to end up in fluid inclusions. Diamonds are ONLY formed in the deep mantle, all authorities agree.
Oil is found in fluid inclusions in diamonds -- that's right -- diamonds -- and the oil could only get inside the diamond if it was present at the diamonds' formation in the mantle.
"...oil-bearing fluid inclusions entrapped in healed microfractures..." Oil-bearing inclusions within the lattice structure of minerals is indicative of presence at the time the mineral formed.
"...more than one type of oil in entrapment sites...likely derived from multiple source areas..." This is also indicative of different rare-earth mineral traces, which is consistent with Abiotic Theory.
It doesn't make sense that there were multiple "algae" creating different types of oil because you wouldn't have multiple ages.
And finally:
"...The hydrocarbon...history of the basin has important implications for understanding the textural relationship between gold, bituminized oil and uraninite in the giant gold-uranium-pyrite ore deposits."
So the geologists are saying that oil is associated with rare-earth minerals and helps to understand the "textual relationship" between them.
Yes, it does, but because oil is an ultramafic mineral which gives insight regarding rare-earth minerals found in association with the oil.
Yes, oil is involved with "mineralization processes" because it's a mineral:
Petroleum, hydrocarbons, crude oil is a mineral -- that's all it is.
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