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January 2009 Newsletter

A message from the President

First let me wish you all a very happy New Year. And what a difference a year makes! This time last year I started my president’s message by pointing out that, as I wrote that piece, oil prices topped $100/bbl, an all-time record level in money of the day and took this a positive indication of the level of health of our industry at that point in time, along with high drilling activity levels. Of course prices in 2008 did not end there but topped out at over $140/bbl mid year, before falling spectacularly to where they are now at somewhere just shy of the $50 mark. The oil industry has not been immune to worldwide economic events in recent months and we find ourselves on a very different playing field than we faced a few months ago.

Thankfully activity levels seem to remain fairly high, though I’m sure E&P budgets are being scrutinised in great detail by all oil companies going forward into 2009. Therefore I sincerely hope that you will find time out of what I hope will be your busy 2009 schedules to come along to LPS meetings, seminars and other functions as they occur throughout the year. It is only via the support of the membership that this society can exist over the longer term. That support can stem from simply attending a function, or even by contributing a presentation to an evening meeting, seminar or open day. It could even come from disseminating news on the LPS through your own organisations and perhaps bring new members to the society. We are a small petro-technical community here in the Southeast, spread wide over a large area nowadays, but I’m sure we can retain the critical mass we need to survive and flourish with your support. Please have a think about what you can offer to the society and in January please try and attend at least one of these events:

Our traditional half-day New Technology Seminar on the 19th January at the Geological Society; where the service companies will enlighten us with their latest tool or software developments. There you can spy on their petrophysical secrets at no cost to yourself, for as ever the seminar is free-of-charge.

The LPS Petrophysics Open Day at Imperial College on the 28th January. I have information that support from sponsor companies has matched that given in previous years and I’m sure this will be a very worthwhile event, for it is our showcase on the world of Petrophysics to the next generation of subsurface professionals, as G&G and engineering students from all over the UK will be in attendance. Of course if you are a full member of the LPS your task will be greatly facilitated. Victoria Baines, our new VP Membership will be distributing 2009 LPS Membership forms via E-Mail and you will also find one attached to this Newsletter mail-out. Why not fill out the form and bring it along with you to the New Technology Seminar?

It only remains for me to thank you for your attention and support to date. I wish to make 2009 a great year for the LPS and these events will get us off to a fantastic start. As such I’d like to thanks those responsible for their organisation, particularly my fellow board members, who are working hard to turn that wish into a reality for all of us.


Jonathan Lean LPS President

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