An Elephant in the North Sea Lundin Petroleum put out a press release on November 28, 2011: http://www.lundin-petroleum.com/Press/pr_norway_28-11-11_e.html The Oil Drum picked up the story on December 28, 2011 under the title “A Monster from the Deep”: http://www.theoildrum.com/node/8746 The story is about the largest oil deposit ever discovered in the North Sea. It is apparently one of those “elephant fields” that need to be discovered to hold off peak oil. Granted, several more would be required to hold it off. Still, it was expected that the North Sea was a declining oil province. If the North Sea can be resuscitated, what’s next … the North Dakota oil cartel?