We study the stochastic effect of resource exploration in dynamic Cournot models of non-renewable resources, such as oil. We consider a stochastic game between an exhaustible producer and a "green" producer that has access to an inexhaustible but relatively expensive source, such as solar power. Through exploration, the exhaustible producer can replenish reserves with new oil discoveries taking place according to a jump process with intensity given by the exploration effort. This leads to a study of systems of nonlinear first order delay ODEs. We derive asymptotic expansions for the case of a small exploration success rate and study the analogue of the Hotelling theorem in our game setting. Time permitting, we will also present extensions, such as fixed exploration start-up costs and possibility for the green producer to lower her production costs through technology R&D. This is joint work with Ronnie Sircar (Princeton).