PESGB July 2007

Sun 01 July 2007

Category: Magazines

President’s Page- Stephen Pickering

I went fishing in the Gulf of Mexico recently and in looking at a map was surprised to find that I was not far from Beaumont, Texas. Beaumont made the news headlines in the weeks following the devastating hurricane Katrina. On 24th September 2005 hurricane Rita made landfall near the town, news of the event was instantly transmitted around the world. Just over a century earlier Beaumont was also in the news. On 10th January 1901 an Austrian, Captain Anthony Lucas discovered oil at Spindletop, a small hill just outside of town. The well “gushed” oil into the air at an estimated seventy-five thousand barrels per day. The news spread rapidly and within days the first Texas oil boom had started with land prices like the oil rocketing skywards. Those who snapped up acreage early were the ones who got the best deal. Spindletop remains the model of our business today. In recent years those who have ventured early into deepwater acreage in Gulf of Mexico and West Africa have been the major winners with lower signature bonuses and the pick of the acreage. There is no doubt that getting accurate news in a timely fashion is important to both our individual and corporate success. All the news that’s fit to print is the motto of the New York Times, and like the eminent NY Times, the PESGB also publishes the news through this newsletter and website. The Society cannot be complacent however, and we continually strive to improve. So we have taken a recent opportunity to improve the service we as a Society offer to you the membership and to our advertisers – you can now receive the newsletter online! Amongst the many benefits, the web version will enable members to reference past copies of the newsletter, directly access advertisers websites, and for the many overseas members to receive the newsletter faster – very important if you are searching for a new job! Of course, I must say to all of you who each month stand excitedly watching the front door, eagerly anticipating the gentle thud of the PESGB newsletter dropping through the letterbox – the Council has absolutely no intention of stopping the paper copy.
Whilst on the subject of the newsletter I would like to take this opportunity to thank all those  volunteers who contribute to the content and publication of this newsletter, in particular regular
contributors, Chris Pettit (Online Data Ltd.), Emily Campbell (Schlumberger), Robyn Fowler (Deloitte), Ken White and Andrew Hayman (IHS); and finally I must not forget our editor Barrie Wells and Julie Callaghan in the PESGB office, both of whom ensure the news arrives each month at your desk. If you would like to publish an article in the newsletter then please contact the PESGB office, we welcome your contribution.
So make sure you visit the online newsletter soon. Log into the members only section of the PESGB website ( because as G.K. Chesterton said “There is good news yet to hear and fine things to be seen, Before we go to Paradise by way of Kensal Green”.

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