I see someone beat me to this, apparently you are the last one to board the bus
Finding New Oil In Long-exhausted Oil Wells
Oil reappears from time to time in old deposits and long ago exhausted oil wells. Oil sometimes rushes in or sometimes floods back.In the researchers' opinion, to overhaul old oil deposits is currently much more profitable and efficient than expensive geological exploration works at new locations.www.sciencedaily.com
Are Oil Wells Recharging Themselves? | OilPrice.com
a look at the idea that oil wells can recharge over time. There are two possible methods in which an oil well may recharge; biogenic production, or abiogenic productionoilprice.com
Earth Is An Oil-Producing Machine — We're Not Running Out
Ever since M. King Hubbert in the 1950s convinced a lot of people with his "peak oil" theory that production would collapse and we'd eventually exhaust our crude supplies, the... Read Morewww.investors.com
Hubert's Peak Oil thing was a political move.. and huge joke in the oil business. Matthew Simmons the "energy broker" brought it back a few years ago and made millions off the panic.
Sometimes old wells do produce again as oil seeps towards the empty bore hole. It happens but its not NEW oil.