UPDATE 1-Relief well to take 90 days at best-US Coast Guard

* Use of dispersants at leak source appears successful

* Relief well the ultimate solution
(Adds detail on dispersants, background)

WASHINGTON, May 3 (BestGrowthStock) – Drilling a relief well to cap
the oil spill in the Gulf of Mexico will take about 90 days “if
we’re lucky,” the head of the U.S. Coast Guard said on Monday.

Such an operation, at about 18,000 feet below the surface,
is the only real solution to relieve the pressure and cap the
existing well, Admiral Thad Allen, the commandant, told a
conference organized by the Navy League.

“That will be about 90 days if we’re lucky,” he said.

Meantime, an unprecedented effort has begun to pump oil
dispersants down to the source of the leaks of the blown out
well owned by BP Plc (BP.L: ), rather than just use them at the
surface, Allen said.

This appeared to have been successful in dispersing oil
before it rises to the surface, he said. If subsequent testing
bears out this finding, “we’ll try to go full speed at the
source of the leaks,” Allen added.

But he said the ultimate solution hinged on the planned
relief well parallel to the existing well.

Coastline from Louisiana to Florida is threatened by the
slick.

Money

(Reporting by Jim Wolf; Editing by Tim Dobbyn)

UPDATE 1-Relief well to take 90 days at best-US Coast Guard