| Description | Tape 1 Side A RICHARD (DICK) STABBINS born in Clifton, 18.7.1943. Only child. Father killed at the end of the war. Mother, who is still living, remarried. Lived near Bristol. Details. Knew paternal grandmother, Louisa Stabbins nee Gibbs. She had relatives on the Titanic, some lost. Reference maternal grandparents (?) Coles, Bessie Coles nee Mitchell. Maternal grandfather had a rural job at Thornbury. He died young. Story of his disappearance, discovery through a woman with second sight. Reference Mrs Pearce. Own father did clerical work for Douglas. Reference Vespa motor scooters. Mother worked. She remarried, divorced. Looked after by neighbours when mother at work. Describes mother. Feelings about her. Mentions her other relationships. Won scholarships to Bristol Grammar, Lord Wandsworth College, Hampshire. Explains choice of the latter. Recalls housemaster, Raymond Bacon, who taught geology, own interest. Explains own expectations, decision to go to university, development of interest in fossils, partly through great uncle's haulage business. Details. Plenty of fossils in chalk ground at school. Describes interesting aspects of fossils, field trips to Dorset. Mentions rocks containing North Sea oil. Details of other subjects followed, attitude to study, university. No serious thoughts about North Sea oil at that stage. Explains. Peter Kent, Chief Geologist for BP said he'd drink all the oil that was found in the North Sea. Reference Geological Society. Oil was being drilled in the Midlands. Details. BP gave it up in the 1980s. Did first degree 1962-5. No mention of North Sea in lectures. Reference Continental Shelf Act. Attitude of mother to career chosen. Not a great team player, prefers small groups. Explains. Always read a lot. Mother's attitude. Feelings about music. Went to Downend Church of England Primary School. Mentions pre-schools, mother's work at Douglas, her meeting with father. Reference WG Grace, cricketer. Mother talked about father, George Frederick Stabbins, with difficulty. Details. Own feeling about him. He was a racing cyclist. Memory of uncle Dan Stabbins. Recalls mother's attitude to bringing up RS. Explains choice in 1962 of University College London over Oxford, Bristol. Career choices available. Reason for deciding on geology degree, attitude to own prospects. Thought of going into advertising. Reference Proctor & Gamble. Got upper second pass. Explains. Recalls Sid Hollingworth, his work in West Cumberland with Geological Survey, Chile. Reference friend Dick Sillito. Details re process of getting PhD. Influential individuals: Alec Smith, Bedford College, Peter Llewelyn, ex Shell. Details re own field work in carboniferous limestone in Lake District, outcrops etc, unique 3- and 4-dimensional approach. Reference work in Greece.
Tape 1 Side B Early research in carboniferous limestone were midway between shallow water limestone and Yordale sequence - limestones laid down in deltas. Details. Reference Solway Firth. Got PhD in 1969. Explains delays through glandular fever, broken leg in a quarry etc. Story of being left injured. Comments on content of PhD, limits of its importance. Always wanted to do research in North America, found advert in The Economist for job with Saskatchewan Department of Mineral Resources in their research lab. They had all the cores, samples of oil wells drilled in Saskatchewan. Details. Emigrated to Saskatchewan. Reaction of Professor Tom Barnard. In UK the Geological Survey charged with keeping oil well samples since before World War II. Explains situation re North Sea samples being kept. Oil companies hate it. Explains. In North America, samples normally thrown away. Worked on Dawson Bay formation which overlaid Saskatchewan evaporites. Describes in detail. Reason for Dawson Bay not working - clogging with salt etc. Studied wonderful cores but work became very academic, was becoming more interested in oil. Invited by Peter Llewelyn to apply to Murphy Petroleum Ltd. Not many young geologists with international experience in oily area at the time. Explains attraction to oil. Mentions move of oil operations away from Saskatchewan to Calgary, Edmonton. 1972 joined Murphy Oil. Describes their organisation, links to Burmah, Norwegian offshore, Africa. They owned 51% of Odeco drilling company, were interested in increasing exposure in Africa. Hired originally as a wellside geologist in North Sea. Recalls first discovery on Amethyst field. Reference Bob Johnson, Chief Geologist for Burmah. Recalls first experience offshore. Describes the discovery of gas - flow 23 million cubic feet a day. Following well not so successful. Details of undersea geology - around 9000 feet down. Job of geologist, to create the ancient environment. Details. Describes procedure followed by the geologist on the rig studying samples coming from drill, probes etc, first appearance of gas. Possible to miss a reservoir while drilling because of time delay in recovering sample. Explains hit and miss nature of work. Impression of offshore environment, life of geologist etc. Reference Exploration Logging Company. Drilling engineers offshore generally contractors, employed by owners of rig. Company man on board. Bargemaster - term from Louisiana - now OIM (Offshore Installation Manager) in charge. Explains critical role of geologist, friendly tussle between geologist and company representative re speed of work etc. Describes process of taking a core. Next well worked on was in Gabon, also successful. Reference General Manager, Exploration, Glen Featherston. While at Murphy, Burmah discovered Ninian field. Reference Brent. Recalls competition between Burmah in north, Murphy (with BP) in south. Worked with very sketchy data. Details. Reference 4th Licensing Round, 1971/72. In 3rd Round Totale picked up loads of blocks. Recalls poor data, wrong information. Companies swapped information with each other in 'well trades'. Explains. Importance of increasing regional information. Nobody was publishing anything at that time. Secrecy was strict. Details. Recalls code names etc. Reference telex security. There was espionage, people offered money for logs. Was involved in (fair) trading of logs. Recalls a man who was taken to court for making money by selling information. In early Rounds, Murphy picked up large tranches of acreage on low work programmes. Explains a wildcat well. Recalls drawbacks to acquisition of blocks. Decision as to who got blocks made by Department of Energy (now DTI - Department of Trade & Industry). Explains their approach. Felt process was fair. Angus Beckett in charge of early Licensing Rounds. Preferred discretionary bidding process to signature processes. Explains. Details re time available to companies to carry out work when successful as bidders for blocks. Murphy was an integrated company based in Finchley. Explains. Mentions Murco retailer. Was in E&P Department (Exploration & Production). They are moving to St Albans, staff laid off. Murphy came from El Dorado, Arkansas.
Tape 2 Side A Background to Murphy (continued). They had licences in Norway in poorish areas, Africa - Mali (Timbuktu), Gabon, Libya, Tunisia. Reference ELF. Mentions own oil hit rate. Did general management training course at North Western University, Chicago. Got fed up with Murphy because of their attitudes. Explains. Felt like a 'white nigger'.1957 Joined Ranger Oil, Canadian company involved in next door block in Ninian discovery. Details. Recalls tears of management of Burmah at time of their demise. Reaction of other firms at their collapse. Burmah had been wonderful operators. Details about them. Has a sample of rock from BP Ninian discovery.Compares styles of different North Sea companies, eg gravitas of BP. Felt more comfortable with culture of Ranger than with Murphy. Explains. Reference Martin Whitely, first British Exploration Director.Went to Ranger as Senior Geologist. Explains work with them, scope of Ranger's involvement in North Sea. Recalls acquisition of Block 23/27 in face of competition from BP who were allowed to farm in to it. Reference Dave Penner. Recalls Tony Benn's moratorium on farm-outs unless BNOC (British National Oil Corporation) allowed to participate. Details. Reaction of Ranger to this. Explains terms 'farm-out', 'farm-in'. Explains how Ranger got into Ninian block.Describes Ninian situation. Reference Chevron; Burmah; ICI; Enterprise; Murphy; Odeco; Canadian Industrial Gas & Oil; BP; Ranger; Scott; Kaywoods; Lasmo; Agip. As Senior Geologist, worked on development drilling. Reference Gordon Bowman, later Managing Director, Ranger. Own interest in finding new areas.Explains role of geologist in exploration programme. Ranger got something in most rounds. Geologist the person who straightens the dart board. Explains. Mentions average costs per wells, hit rate in explorations, commercial success rate. Details re Ninian, exploration geologist's appraisal work, dealing with scattered bits of information etc, and that of the development geologist. Exploration and appraisal wells may or may not be reused. Details. Role of geologist in relation to engineer. Explains putative recovery factor for oil, gas. Friendly, sometimes acrimonious discussion between geologists and engineers, contrasts between estimates of each. Recalls shock when first development well of Tartan was missing. Details.Explains role of drillers, constraints they can impose on placement of rigs. Generally they do what they are told. Struggle between gathering data and getting it drilled quickly. Comments on interpretation of recovery factor by exploration geologists.Had a good time with Ranger. Recalls chance discovery of boss' plans for staff redundancies, including RS. Boss ended up going. Details. Reference Pict Petroleum; BHP; Hamiltons. Oil industry a place of cosy relationships, cleverest brains, most entrepreneurial, adventurous people. Compares with IT now. Oil not glamorous now. Recalls journeys by train to Aberdeen. Compares with situation now, amounts of money spent. Then money spent on whims. Own recommendations were inspired guesses. Explains. Recalls first times seeing Fulmar sand, early discovery of Pearce Field (named after founder of Ranger Oil) which only came on stream in 1999. Recalls not thinking it was commercial. Details of first impressions, samples etc. Reference Enterprise Oil. BNOC: Lot of American companies saw State participation as theft. Explains. Compares with attitude of British. Talk at Murphy was very anti. Recalls reaction when PRT came in. Compares with attitude at Ranger. Later, when working for a British company, saw that what BNOC wanted provided protection from North American operators. In licensing rounds, when Labour government in power, (own company) did better than under Conservatives.Took a lot of interest in what happening at political level. Had interest in Murphy shares on stock market. Mentions 'insider trading'.Recalls oil company waste in expenses etc when oil prices high. When Ninian discovered, wrote memo with suggestions, re spending of profits on reinvestments rather than paying back loans, for Jack Pearce, Ranger company president. He never saw it. Explains.
Tape 2 Side B Health and safety issues had little impact. Recalls transfers from boat to rig in swinging baskets stemming from practice in Gulf of Mexico; helicopter travel. Mentions rates of pay. Job considered high risk. Recalls a storm, a fireball, a rig being blown away etc. Insufferably noisy on rigs. Details. Changes to helicopter take-off procedures.Describes lifestyle on rigs, working hours. Good food the only entertainment. Television didn't reach offshore. There could be arguments, intellectuals above all that. Recalls attitude to roustabouts etc, hierarchy of professionals and others. Details of order of hierarchy. Recalls situation in Gulf of Tunis illustrating prejudices of people at both ends of the hierarchy.Fifth Licensing Round - Ranger didn't get much. Aberdeen (in 1960s) was 'cow town', like going to Calgary. Exploration companies had head offices in London. Didn't spend much time in Aberdeen. Ranger base was a small place in Stonehaven. Reference Dyce. Office space in Aberdeen moved in price according to the price of oil. Comments on 6th Licensing Round. Ranger had to put in a messy application prepared by Conoco. Explains. Department of Energy undertook a drilling programme, results of which companies had to purchase if they were to be considered seriously for the bid. Own reaction to this.Explains procedure when Government set up licensing rounds, matters to be considered eg fish, defence. Mentions ways of getting relevant data. Reference Iranian revolution, high oil price.Background to own move to GOAL (Gas & Oil Acreage Ltd). Explains decision to move from Ranger. Details re Carliss Caple & Leonard (who discovered oil in Humly Grove, southern England), GOAL. Reference Morgan Grenfell; Deutsche merchant bank. Details re attempted sale of shares in GOAL which had been set up for 4th Licensing Round. Reference cosy board arrangements, settlement of share distribution. Reason for company's interest in RS. Details re staff. Reference BNOC; Duncan Ritchie; David Boyd; Alan Cole; Lord Kearton. Was second employee of GOAL - no other technical staff. Own role: to recruit technical team, find oil, get licences.GOAL had small interest in Buchan Field (Block 21/1). BP was the operator, farmed into GOAL interest. Background to GOAL's interest. Mentions Tom Cox later Engineering director of GOAL, David Boyd, Managing Director GOAL, their former school link. In early days of consortium bidding, a lot to do with trust rather than relying on Joint Operating Agreement. Gives example of sportsmanship in bidding, need for a happy partner. Comments on significance of background, contacts in own appointment. Recalls seventh Licensing Round arrangements - which led to own appointment with GOAL. Explains. Reference ARCO (Atlantic Richfield); BP; BNOC; Gulf; Chevron. Describes own approach to putting together an exploration department. Hired Peter Simpson. Details re him. Explains procedure in formation of a consortium, spreading risk etc. Significance of temperaments of people involved, quality of idea rather than size of equity. Compares attitude of some American companies to the British with that of ARCO. Explains relationship between GOAL and ARCO, Amerada Hess. Reference Richard Hardman, Exploration Director. Attitude of BP to GOAL. Details re equity held by GOAL.Describes priorities for exploration. Mentions situation in Western Approaches. Recalls block 16/21/A which was made commercial by abolition of royalty payments on new fields. Details. Reference Sun Oil; ARCO; CARLISS; BNOC (Britoil).Became Exploration Manager for GOAL, appointed a geophysicist, John Donato ex British Geological Sciences. Reference Steve Bushell; Burmah; John Lander. Importance of getting a good team. Describes approach to team working. Explains importance of geophysical input. Reference Blenheim field. Explains significance of granite in exploration.Reference oil prices high during Iran/Iraq war. Explains impact on GOAL of collapse of Alexander Kielland. Reference Buchan field; Sea Gem disaster.
Tape 3 Side A Comments on Sea Gem disaster. Reference Nigel Lawson, Minister of Energy. Explains reason for joining GOAL (Gas & Oil Acreage Ltd). Reference Tyzacks recruitment consultancy. Recalls Alwyn Thomas, ex Chief Geologist for BP, one of the seminal thinkers behind Forties Field, one of the last geologists to wear a bowler hat. Reference Alaskan exploration; Tim O'Brien, ex BP head of Anglo Iranian consortium in Iran; Great Eastern Hotel. Hit it off with David Boyd, ex Shell, Managing Director, GOAL.Work in GOAL was flying by the seat of the pants. Explains tactics of being small, responsive, concentrating on UK, having enough production to afford an aggressive exploration programme. Rule of thumb of 1000 barrels of oil per day per person on staff - including tea lady. Describes lunch routine.Explains own influence as a geologist. Developed practice of having company's own interpretations of maps (when dealing with operators) etc. Explains. Attitude of BP. Describes approach of other companies, attitude of operators. Preferred operators BP, ARCO, Amerada. Details re procedures followed.Morgan Grenfell sold stake in GOAL to Norwich Union - seeds of downfall. Explains. Recalls lunches with City finance people.Early realisation of being gay. Details. Recalls homophobic attitude in industry 20 years ago, own approach to situation in Murphy, GOAL. Met present partner, a former geologist. Explains current domestic arrangement. Describes evolution of own working pattern.Recalls getting ideas for possible exploration possibilities eg at PESGB (Petroleum Exploration Society of Great Britain) of which former Chairman. Explains possibilities when offshore exploration could be set against Petroleum Revenue Tax, taking over wells from BP. Explains obligations to drill wells (to satisfy conditions of licence). Gives examples.Describes mechanics of dividing costs of contractors.Blenheim Field: Details of development, oil being in more than one block, method of dealing with difficulties, dispute with ARCO. Reference Balmoral Field; 15/25/C; Production Geosciences; Henry Allen.PESGB: Explains role of society, activities in London, Aberdeen. Reference PETEX biennial conference; book produced by society. Mentions enjoyment of process of work in oil than actual discovery. Value of membership of PESGB. Not a learned society. Oil, a very gossipy industry. Union situation: in early days had own union which was qualifications and knowledge. Explains. With oil price going up able to name price. Mentions poaching of crews, difficulty finding experienced people. Union representation was difficult because of being outside territorial limits etc. Unionism didn't impact on own work. Explains.
Tape 3 Side B Union situation (continued): A contractors' problem. Explains. Attitude of Americans.Piper Alpha accident had an immediate impact on GOAL. Explains. Reference Bank of Scotland; Claymore Field; Transworld UK; Wytch Farm; Pict Petroleum; John Lander. Explains pre-emption agreements/rights; Sovereign; Ranger. Story of telex that would not stop coming from Occidental ('Oxy'), oxymoron joke.Opinion of Oxy, Armand Hammer. Comments on possible effect of the accident on Jack Brady, Managing Director at the time. Comments on notion of responsibility. A lot less known in the industry in those days. DTI, operators wise after the event. Explains. Accident because of poor practice. Comments on amount spent on improvements. Effect of Petroleum Revenue Tax on cost-cutting.Feelings about Government use of money coming from oil industry. Reference Heritage Tax; unemployment; GOAL share price. Effect of slide in oil price in 1980s on industry, recruitment etc. Changing attitude to the industry as a career option.In the early days sparse density of drilling. Explains changes. Cost of wells went up as did rig rates, oil generated less profits. Attitude of GOAL board remained - we'll make money if you drill wells. Recalls target of 1000 barrels per day per member of staff.Relationship with DTI (Department of Trade & Industry) were cordial. John Brooks oversaw all licensing rounds. Reference the 'John Brooks formation'. Recalls a drilling arrangement with ARCO, and a friendly exchange of views over Brooks' requirements. Reference Amoco. Feelings, at exploration end, about DTI. The licensing process was a transparent process. Explains. Recalls an application with Enterprise in East Irish Sea which ultimately went to Hamilton, approach of DTI, unhelpful attitude of Enterprise man. Had to be suitably deferential to Brooks. Details re procedures after Brooks had considered applications.Least liked situation - by companies and DTI - was where people bid money for blocks. Explains. Reference Treasury. Mentions desire of DTI for blocks to be explored, to understand the geology.Wytch Farm: GOAL bidding for it for a long time. Mentions Wareham field. Details re Wytch Farm's shallow and deep reservoirs, involvement of BG (British Gas), sale of their assets. David Boyd's plan for consortium of British companies to buy from BG. Details of plan for royalty which was attractive to Treasury resulting in their twisting BG's Sir Denis Rook's arm. Mentions other consortium involving RTZ, Charterhouse.Spent lot of time worrying about how to develop Wytch Field until development of offshore field which was immense. Details of consortium. Reference BP; Tricentral; ARCO; Talisman; Carliss; Premier; Armand Hammer. Further details re Wytch Farm reservoir discovery. Recalls presentation by Vic Coulter, BG, re well discovery. Reference Geological Society. Recalls deals between BG and BP, their 'pope's line' across England. Reference East Midland. When BG forced to diversify, BP took over their operatorship.Story behind long reach drilling at Wytch Farm, unusual act of Parliament in case of development of an offshore island. Details of BP's machiavellian piece of political engineering when dealing with local authorties. Reference tourism; DTI; general election; PRT; Rebstone Estate. Furzey Island, owned by Algy Cluff of Cluff Oil, bought by BP without his knowledge. 2 well sites put there. Explains Cluff's situation, what he might have done. Details re BP's compensation to Rebstone Estate, what they might have got.Mentions Ian Clark's handwriting, his negotiations on behalf of Shetland.Wytch Farm long reach technology. Details. Each well set a new record.
Tape 4 Side A Explains farming out, farming in process. Reference PRT (Petroleum Revenue Tax); Magnus field. Reason for GOAL's enthusiasm for drilling blocks, picking up equities etc. Describes typical deals in the North Sea, different views of risk. Decisions technically based. Mentions DTI/Treasury paying for exploration costs. Reference conferences.Explains disposals, relinquishments of wells, obligations and rights of licensees. Mentions annual fees payable on licensed blocks. Continuing interest in blocks relinquished or unsuccessfully bid for. Cannot remember any blocks let go mistakenly. Unsuccessful bid for successful block in Liverpool Bay. Reference Britoil; Charterhouse; Lasmo; Enterprise; Hamilton; block 113/27.Algy Cluff was an entrepreneurial figure. Details re him, his attitude to holdings on blocks. He got out of oil, was on the fringes. Comments on him.Recalls the 'Milk & Biscuits' (7th) licensing round. Reference Associated Dairies; Barclay Bank; Natwest Bank; AB Food. Details. In this round GOAL got its first decent number (5) of blocks. Joined company as round being announced. Details.Key individuals in granting licenses were Angus Beckett, Department of Energy, John Brooks, DTI. Brooks was ex Amoco. Explains DTI discretionary system which didn't rely on highest (money) bidder, its attraction. Reference Gulf of Mexico. OSO (Offshore Supplies Office) had little impact, just a bloody interfering bunch of busybodies. Gives example - schermozzle over Balmoral field. Details of arguments, stand of own company. Reference GVA Swedish company; protectionism; abolition of royalty. Comments on OSO.Lots of contact with professional colleagues in other companies, eg through consortia. Secrecy in early days of oil industry, later it became quite a communicative industry. Explains. Mentions trust among colleagues.PESGB (Petroleum Exploration Society of Great Britain) of which former Chairman: Details of activities. Reference PETEX biennial conference.1989 Joined Board of GOAL. Explains. Reference Duncan Ritchie, Commercial Director; London Wall; Morgan Grenfell. Attitude of Board to self. Few of colleagues in other companies let loose on people in the City in way GOAL people were. Explains. Mentions sound financial position of GOAL. Value of City contacts, their range.Blenheim field came on during time on Board. Details of dispute with ARCO, successful outcome. Reference Duncan Ritchie; Production Geoscience Ltd (PGL); Henry Allen. Importance of companies like PGL.Impact of Piper Alpha accident on GOAL. Reference Claymore field. Companies became more safety conscious. John Brading, Managing Director took situation very seriously, ultimately died. Mentions reputation of Armand Hammer, his activities in Libya. 'Oxy' (Occidental) got into North Sea early, got good blocks, developed them on the cheap - as did others. Recalls situation whereby Piper accident brought about GOAL's interest in Claymore. Mentions acquisition of Transworld Petroleum UK British interests, involvement of Pict Petroleum. Reference Joint Operating Agreement. Joke about oxymoron. Few dealings with Dutch, Belgians. Reference Block K/9 'our dog of a block'; applications re Arthur; RGD (Dutch Geological Society); EBN (Dutch state participating company). Recalls Norwegian refusal to have Ranger bid in a licensing round - too small; Norwegian attitude re allocation to operators etc. Reference median line; Fulmar sands; Pearce field; NPD (Norwegian petroleum body). GOAL too small to bid in Norwegian sector. Had blocks up against median line. Mentions GOAL involvement offshore Eire, Spain, New Zealand. Most interests in UK North Sea and west of Britain. NZ offshore turned out to be successful after GOAL was out. Mentions own involvement when in Murphy with offshore Taranaki, discoveries being made now, unsuccessful onshore block. Reference Talisman.Not involved with unions.Comments on CRINE (1993) - a few good ideas, lot of paper etc.GOAL taken over for cÐ100 million having been very small when first joined. Mentions movements in oil price. Got bored with GOAL. Explains. A well run mini-Shell.
Tape 4 Side B: Importance of shareholders in the industry. They are your bosses and there are others they could invest in. By the time GOAL got going North Sea was quite mature. Explains role and turnover. Mentions Talisman, which bought GOAL. Recalls Range of share prices.As member of Board, still gave geological advice etc. Kept up with technology of geology. Explains. GOAL always did its own work - which other companies didn't - and didn't rely on operators's knowledge. Details. Reaction of operators.GOAL experience in retrospect. Wytch Farm was a highlight. Details. Reference Balmoral; Blenheim. Always worked with good operators. Own combination of skills helped. Explains. Other people in GOAL: Peter Simpson, former draughtsman who dealt with data; John Denato, geophysicist, formerly of British Geological Survey; John Cunker, formerly of Burmah; Trevor Jones, former seismic contractor; Chris Hind, technical assistant; David Boyd, Managing Director, ex Shell, recruited by Morgan Grenfell; Alan Cole, Company Secretary, ex Marathon; Duncan Ritchie, Commercial Director, ex BNOC; Ken Waters, Finance Director, ex Yule Catto. Most women in Accounts Department. No impact from 'summer of discontent'.Comments on growth of Enterprise. They started with no technical data so they bought small company Tanks Holdings (originally Tanganyika Holdings) which had a big technical data base. Reference British Gas. Reference Miles Bowen, ex Shell; Graeme Hearne, ex Carliss. Recalls bidding with Enterprise on a couple of occasions.Mentions Norwegian use of oil money in heritage funds etc rather than paying unemployment benefits etc. Range of values of shares in GOAL.1996 GOAL bought by Talisman, (formed from Canadian arm of BP by Jim Buckie) which had acquired Beau Valley etc. Reason for their attraction to GOAL. Was only Board member who said they were paying too little. Feelings of bereavement at sale of GOAL. Comments on possibility of continuing to work with Talisman. Describes process of sale, influence of major shareholders. Share price 96p a share - premium over what share price had been. Explains own employment situation, payoff at the end.Describes atmosphere in Board - gales of laughter etc. Cannot recall having a vote. Mentions Laura, who cooked staff lunch. Chairmen, Tim O'Brien, ex BP, Head of Anglo Iranian consortium in Iran; Roger Beckson, ex Deputy Chairman of BP, a geologist and engineer. Beckson had a ferocious reputation. Recalls an interchange with him. Board were supportive. Reference Norwich Union. Non-executive Board member Jack Spinks, a geophysicist, ex Shell, ex advisor to Bank of Scotland which was main lender.Describes relationship with banks, their interests. Money borrowed to develop fields, not for exploration. Explains. Had regular meetings with them. Banks had engineers. Describes relationship with civil servants. Most contact was about exploration. They were mostly hands off. Explains.1996 Feelings on first day after work with GOAL finished. Details of favourable financial arrangements. Explains decision to set up Panther Energy, a one man band. Origin of name. Mentions 4 executive directors at GOAL, Duncan Ritchie, Ken Waters, Tom Cox and self, plan for possible scheme involving American venture capitalists. Given counselling placement by Talisman. Details. Own advantage over other geologists was contacts etc in the City. Explains role in Panther, procedure for being paid. Details of other activities, eg chairing PETEX conference for PESGB; involvement with International Exploration Managers' Group lunches. Reference Fusion Oil & Gas.
Tape 5 Side A Panther Energy: Details re Medusa Holdings, a client which was formed by colleague Michael Seymour. Areas of interest in Czech Republic, onshore Spain, offshore Ireland, Fastnet Basin, southern North Sea. Decision to float it on the 'A' market. Details re raising money. Peter Everitt, ex Shell Managing Director, ex Pict Petroleum Chairman, ex Ramco board member. Ramco bought Medusa. Explains. Mentions other clients, Amsol (Amalgamated Scottish Oil).Eclipse Energy run by Ian Hatton, ex Exploration Manager, Kerr-McGee. Hatton's idea of developing electricity generation using relinquished blocks with gas sources in North Sea, east Irish Sea offshore. Details re raising money etc. Attitude of DTI. Renewable energy a buzzword. Attraction of offshore windfarms, green electricity. Pressure on generating, transmission companies to buy green energy. International possibilities. Mentions own list of potential investors, amount raised. Explains own level of investment. Prospects for company. Future prospects for North Sea. Own reason for joining Fusion Oil & Gas is that the next big place is West Africa deep water. Explains tactics of Fusion, size of blocks, prospects. Aim to be an exploration, not development company. Details of money raised, work done so far. Reference Woodside; Agip; Mauretania. Big impact maker is in finding oil/gas. Own motto is find it and flog it. Skill is in getting licences. Fusion floated September this year. Found investor, Westmount, who were involved in Falklands. Details. Reference Chairman, Derek Williams, ex partner in Buchan field. Details re shares. Importance of contacts who trust you.Personal life - has little spare time. Changes in patterns. Examples of business and non-business activities. Involved with Geological Society. Mentions Australian aspects of Fusion Oil & Gas. Mentions partner also having worked for an oil company - Conoco.Distinction, in Geological Society between academics and those more industrial in experience. When Geological Society needs sponsorship, it looks to oil companies first. President is Ron Oxburgh, ex Provost of Imperial College; Treasurer, Duncan Murchison, was professor of geology at Newcastle, Vice Chancellor - relationship with him.Money from oil has not been well spent. Explains. Example of Norway, Alberta, where they have heritage funds. Reference British coal, steel industries; unemployment payments. Short term, tactical attitude of politicians. Mentions long cycle of oil discovery-production etc. Comments on variation in oil prices. View of Tony Benn's contribution, concessions under him.Comments on attitude of Americans. They've shot themselves in the foot a few times. Reference sanctions against Iran, Iraq, Libya.Career in retrospect: main difficulty arises from consolidation of the industry into smaller number of bigger companies. Cheaper to find oil by buying a company than by finding it yourself. Effect of this on employees with economies of scale. Prospects not good for future geologists. Good people have been squeezed out of the business before their time, expertise lost permanently. Explains. Many big companies don't even know what they own. Explains. Example of BP which nearly threw away all maps of countries no longer involved in. Details. Mentions own collecting of old material.Oil industry - a curiously British compromise. Explains. Recalls early attitude to oil. Some individuals who have shaped things, but not many. Almost luck.Feelings about own career, situation now, future. Has been fortunate with colleagues. Explains. Work meant to be fun.Explains attraction of oil - it's found in hideous places. It takes a certain sort of person to go and find it. Oil industry used to have prestige. Oil is fluid, fugitive, never where you expect it to be - combination of intellectually interesting, financially rewarding, people element.
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