The Bakken Oil Formation

The Single Largest Oil Find in US History... Could Be the Best Investment Play of 2008

By now, most of you have heard about the emerging Bakken oilformation. Most of the Bakken play can be found in the Williston Basin,which stretches across North Dakota, Montana, South Dakota, Manitobaand Saskatchewan. In total, the basin covers roughly 300,000 squaremiles.
The U.S. Geological Survey (USGS) has just released an official report that could keep the area red hot for the next 10, 15... even 20 years.
But here's what you may not have heard...
Unlike the heavy oil that's still undiscovered in northernSaskatchewan, the oil from the Bakken is 41 degree light, sweet crude.In other words, it's a lot more desirable by oil producers,particularly as new horizontal drilling technologies allow for moreefficient extraction.
You see, the Bakkan story, and its vast reserve potential, are just beginning to unfold.
In fact, the USGS' own agency--the Energy Information Administration(EIA)--had this to say about the Bakken, in a 2006 report: 'A studyprovides estimates ranging up to 503 billion barrels of potentialresources in place.'
One thing is for sure - the Bakken is becoming the hottest oil play in North America.
You can now safely bet there will be a huge number of producers scrambling to get a piece of it. And as the Williston-Bakken Basin lives up to its potential, we're going to see a drastic increase in production over the next few years.
Think of what that means for a just a second...
Based on data from the Energy Information Agency, the U.S. imported about 5.9 million barrels per day from OPEC countries in 2007. Considering oil prices averaged $72.32 a barrel last year, that means we shelled out $426 million every day. One way or another, we're going to have to kick the Middle Eastern oil habit.
Ever since peaking in 1970, production at U.S. oil fields has been spiraling downwards.
See for yourself in the chart below:

Okay, so how much of an oil boom are we talking about in the Bakken?
Even if we take the lower estimates, that's still a huge amount of oil, far more than the 36 billion barrels of oil believed to be in Alaska's North Slope.
Let's just say that North Dakota oil production has been growing significantly. Crude oil production has been strong, up to about 40 million barrels in 2006. That's roughly a 20% increase since 2004.
To America, the Bakken discovery couldn't have come at a better time. You see, when all the wells are finally drilled and pumping, we won't have to import any foreign oil from the Middle East. Not a single drop!
What Investors Can Expect from the Bakken Play
For investors, the window is still open. But if you wait any longer, you'll likely miss out on the first round of profits.
The Bakken offers a 'once-in-a-lifetime' chance to profit on ever-rising demand for oil. And we can do it by getting in on the groundfloor of the next great oil boom...
We've uncovered the three companies that are drilling in the Bakkenright now, and are seeing returns and revenues second to none...
To get the entire report, and more details on how to profit from theBakken play, simply sign up for the free Energy and Capital e-Letter, adaily advisory on the fast-moving profits in the energy stock sector,written and edited by energy and natural resources investing expertsChris Nelder and Keith Kohl.

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[ame="http://video.google.com/videoplay?docid=-6705901528420050413&q=Montana+Oil+Find&ei=g2BQSLvSOaXsqgPblbTGDA&hl=en"]Bakken: The Biggest Oil Find in U.S. History[/ame]

Among Biggest Oil Finds in USA - Montana & North Dakota