 Tiber comprises multiple Lower Tertiary petroleum reservoirs located in Keathley Canyon block 102 about 250 mi ( 400 km ) southeast of Houston and 300 mi ( 480 km ) south west of New Orleans . Tiber is only the 18th Lower Tertiary well to date , and drilling in these formations is in its infancy . The oil from Tiber is light crude , and early estimates of recoverable reserves are around 20 – 30 % recovery , suggesting figures of around 600 to 900 million barrels ( 95 × 10 ^ 6 to 143 × 10 ^ 6 m3 ) of reserves . Sources such as Bloomberg suggest caution , warning that the find is technically complex and potentially could take 5 – 6 years to produce oil or be lower yield ( 5 – 15 % ) based on " rates talked about " at nearby Kaskida Oil Field , BP 's previous giant find ( 2006 ) 40 mi ( 64 km ) away . The commercial prospects of the field have not yet been evaluated . 
 Tiber <a href='uninflect' title='1'><mark>comprises</mark></a> multiple Lower Tertiary petroleum reservoirs located in Keathley Canyon block 102 about 250 mi ( 400 km ) southeast of Houston and 300 mi ( 480 km ) south west of New Orleans . Tiber <a href='drop_aux' title='2'><mark>is</mark></a>only the 18th Lower Tertiary well to date , and drilling in these formations is in its infancy . The oil from Tiber <a href='drop_aux' title='3'><mark>is</mark></a>light crude , and early estimates of recoverable reserves <a href='drop_aux' title='4'><mark>are</mark></a>around 20 – 30 % recovery , suggesting figures of around 600 to 900 million barrels ( 95 × 10 ^ 6 to 143 × 10 ^ 6 m3 ) of reserves . Sources such as Bloomberg suggest caution , warning that the find is technically complex and potentially could take 5 – 6 years to produce oil or be lower yield ( 5 – 15 % ) based on " rates talked about " at nearby Kaskida Oil Field , BP <a href='null_genetive' title='5'><mark>'s</mark></a>previous giant find ( 2006 ) 40 mi ( 64 km ) away . The commercial prospects of the field <a href='been_done' title='6'><mark>have</mark></a> not yet been evaluated . 
Tiber comprise multiple Lower Tertiary petroleum reservoirs located in Keathley Canyon block 102 bou 250 mi ( 400 km ) southeast of Houston and 300 mi ( 480 km ) south west of New Orleans . Tiber only the 18th Lower Tertiary well to date , and drilling in these formations is in its infancy . The oil from Tiber light crude , and early estimates of recoverable reserves around 20 – 30 % recovery , suggesting figures of around 600 to 900 million barrels ( 95 × 10 ^ 6 to 143 × 10 ^ 6 m3 ) of reserves . Sources such as Bloomberg suggest caution , warning that the find is technically complex and potentially could take 5 – 6 yrs to produce oil or b lower yield ( 5 – 15 % ) based on " rates talked about " at nearby Kaskida Oil Field , BP  previous bigass find ( 2006 ) 40 mi ( 64 km ) away . The commercial prospects of da field done not yet been evaluated .