SOUTH AUSTRALIA IS SITTING ON $20 TRILLION DOLLAR RESOURCE

Viewing 14 posts - 1 through 14 (of 14 total)

JT7
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January 24, 2013 - 2:12 am
Just hit the news this morning……

Be an interesting development to keep an eye on…..
http://www.mining.com/australia-could-see-shale-oil-boom-following-20-trillion-discovery-44833/
Jack
Nigel Kibel
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January 24, 2013 - 3:31 am
It certainly shows that the resources boom has a long way to go and will also help Australia with oil for our economy for years to come.
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Jeff123
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January 24, 2013 - 6:12 am
I think it's fantastic and could see Australia becoming more self-sufficient.
JT7
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January 24, 2013 - 6:15 am
http://www.theage.com.au/business/markets-live/markets-live-optimism-gains-ascendancy-20130124-2d899.html
A little conjecture on the true resource though……
Looks like it's been blown up by an over exuberant media…….
Read: 2:26pm….
moxi10
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January 24, 2013 - 1:16 pm
I'm sure the freckle won't approve
JT7
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January 24, 2013 - 4:03 pm
moxi10 wrote:
I'm sure the freckle won't approve
lol…I'm sure he'll make his appearance
JT7
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January 24, 2013 - 9:49 pm
JT7 wrote:
http://www.theage.com.au/business/markets-live/markets-live-optimism-gains-ascendancy-20130124-2d899.html
A little conjecture on the true resource though……
Looks like it's been blown up by an over exuberant media…….
Read: 2:26pm….
Not bad money if you'd bought in at $.50….
http://www.smh.com.au/business/reality-check-for-linc-20-trillion-find-20130124-2d9mj.html
moxi10
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January 25, 2013 - 2:23 am
JT7 wrote …Not bad money if you'd bought in at $.50….
With the potential reserves of the discovery I can see why speculators are pushing the shares up. Today's price could look ridiculously cheap after the next round of drilling finishes.
You can currently purchase a cool, perpetually shady underground house for the morlocks, starting around $100,000 or above ground ovens starting around $75-$80,000, no mowing required (looks like nothing grows there).
Freckle
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January 25, 2013 - 3:21 am
Glad to see you guys missed me. Shale oil isn't anything to get too excited about. It'll take them 10 years or more to get the stuff out of the ground if ever. Lotsa hurdles.
- Studies conducted so far suggest that oil shale extraction would adversely affect the air, water, and land around proposed projects. The distillation process would release toxic pollutants into the air—including sulfur dioxide, lead, and nitrogen oxides. Existing BLM analysis indicates that current oil shale research projects would reduce visibility by more than 10 percent for several weeks a year. And NRDC states that in a well-to-wheel comparison, greenhouse gas (GHG) emissions from oil shale are close to double those from conventional crude, with most of them occurring during production. According to the Rand Corporation, producing 100,000 barrels of oil shale per day would emit some 10 million tons of GHGs
Over excited MSM hype at this stage. If in the future shale looks to have legs buy into the drilling and servicing companies.
Rough rule of thumb. Only 10% is considered recoverable with todays technology. Value per barrel is only rated at US$10 for shale oils.
Even Linc are playing down the hype.
- This is very early days and it's no where near certain there's actually anything that's recoverable yet. As the consultants wrote: ‘‘There is no certainty that any portion of the prospective resources estimated herein will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.’’
Linc are talking the prospects up because they're looking for a partner to take it to the next stage..
- But Linc is now looking for a ‘‘farm-in’’ partner to spend up to $300 million to develop the resource and prove up reserves..
Sorry guys. Nothing to see here. Move along please.
jmsrachel
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January 25, 2013 - 4:52 am
moxi10 wrote:
I'm sure the freckle won't approve
This is going to give him a stroke!
JT7
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January 25, 2013 - 5:27 am
Freckle wrote:
Glad to see you guys missed me. Shale oil isn't anything to get too excited about. It'll take them 10 years or more to get the stuff out of the ground if ever. Lotsa hurdles. Sorry guys. Nothing to see here. Move along please.
Lol you crack me up Freckle…..
Always interesting hearing your point of view mate
Freckle
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January 25, 2013 - 5:39 am
JT7 wrote:
Lol you crack me up Freckle…..
Always interesting hearing your point of view mate
Tell 'em that on the Blog forum. They've been picking on me.
JT7
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January 25, 2013 - 7:03 am
Freckle wrote:
JT7 wrote:
Lol you crack me up Freckle…..
Always interesting hearing your point of view mate
Tell 'em that on the Blog forum. They've been picking on me.
LOL…..I reckon you sound like a bloke that would have skin as thick as a rhinoceros Freckle…..
Besides it's refreshing to have a variety of views on subject matter me thinks…..
Jack
moxi10
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January 26, 2013 - 1:17 am
LOL A spotted rhino.
An impressive analysis of this over zealous announcement Freckle. I agree with Jack. Refreshing and frequently enlightening to read your comments. Still, an interesting discovery, but the environmental impacts you mention make me feel we'd be better off leaving the crap in the ground.