Oil Search bought into Nanushuk discovery for very little, despite huge potential

An Alaska oil explorer with a string of wins under his belt claims his latest discovery is the largest in the U.S. since the Prudhoe Bay oil field in 1968, and contains about 3 billion barrels of recoverable oil.

But Bill Armstrong's large corporate partner, Oil Search, is far more cautious, and says the so-called Nanushuk field on the North Slope contains at least 500 million barrels of recoverable oil, though with the potential for much more.

"What we see is there is an awful lot of...

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