Timberlake energy acquires Rhoton oil lease properties

Timberlake Energy, an exploration company focused on purchasing oil and gas leases in the US, has ac

The company will lease three 80 acre oil properties, which are located across from the Dickerson lease properties. A radiometric analysis has indicated significant amounts of hydrocarbon on the properties, the company said. Initially, Timberlake Energy plans to commence drilling on five wells.

Timberlake Energy is focused on purchasing abandoned or under valued oil and gas leases in the US. The company said that the oil and gas wells are refurbished and outfitted with the latest in oil and gas recovery equipment.

Timberlake Energy operates exploration projects through joint ventures in the Appalachian basin and owns interests in a number of petroleum and natural gas leases in Lambton and Kent Counties, Ontario. In addition to its main operating focus, the company also explores projects in the Appalachian and Michigan basins.

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Is anyone prepared to solve the NHS funding crisis?

As long as the political taboo on raising taxes endures, the service will be in financial peril. 

It has long been clear that the NHS is in financial ill-health. But today's figures, conveniently delayed until after the Conservative conference, are still stunningly bad. The service ran a deficit of £930m between April and June (greater than the £820m recorded for the whole of the 2014/15 financial year) and is on course for a shortfall of at least £2bn this year - its worst position for a generation. 

Though often described as having been shielded from austerity, owing to its ring-fenced budget, the NHS is enduring the toughest spending settlement in its history. Since 1950, health spending has grown at an average annual rate of 4 per cent, but over the last parliament it rose by just 0.5 per cent. An ageing population, rising treatment costs and the social care crisis all mean that the NHS has to run merely to stand still. The Tories have pledged to provide £10bn more for the service but this still leaves £20bn of efficiency savings required. 

Speculation is now turning to whether George Osborne will provide an emergency injection of funds in the Autumn Statement on 25 November. But the long-term question is whether anyone is prepared to offer a sustainable solution to the crisis. Health experts argue that only a rise in general taxation (income tax, VAT, national insurance), patient charges or a hypothecated "health tax" will secure the future of a universal, high-quality service. But the political taboo against increasing taxes on all but the richest means no politician has ventured into this territory. Shadow health secretary Heidi Alexander has today called for the government to "find money urgently to get through the coming winter months". But the bigger question is whether, under Jeremy Corbyn, Labour is prepared to go beyond sticking-plaster solutions. 

George Eaton is political editor of the New Statesman.