$20 Trillion Shale Oil Find In Australia

[RANGA+ 1,210]

http://www.news.com....z-1226560401043

 

SOUTH Australia is sitting on oil potentially worth more than $20 trillion, independent reports claim - enough to turn Australia into a self-sufficient fuel producer. Brisbane company Linc Energy yesterday released two reports, based on drilling and seismic exploration, estimating the amount of oil in the as yet untapped Arckaringa Basin surrounding Coober Pedy ranging from 3.5 billion to 233 billion barrels of oil.

 

At the higher end, this would be "several times bigger than all of the oil in Australia", Linc managing director Peter Bond said.

 

This has the potential to turn Australia from an oil importer to an oil exporter.

 

"If it comes in the way the reports are suggesting, it could well and truly bring Australia back to (oil) self-sufficiency," Mr Bond said.

 

.....

 

"If you look at the upper target, which is 103-233 billion barrels of oil, that's massive," he said.

 

"The opportunity of turning this into the next shale boom is very real.

 

"If the Arckaringa plays out the way we hope it will, and the way our independent reports have shown, it's one of the key prospective territories in the world at the moment." Mr Bond said each well could flow at 1000-2000 barrels per day.

 

"You put in 50 of them and that's a lot of oil," he said. "We have a very good idea that this will be an oil-producing asset.

 

 

 

[RANGA+ 1,210]

So when you are all invading Australia?

[ATL_Predator+ 1,196]

Time to move to AussieLand.

[seanbrock 1,684]

So when you are all invading Australia?

Just as soon as we get done the fake intelligence report saying you guys have nuclear weapons.