GoFuckYourself.com - Adult Webmaster Forum - View Single Post - Boatloads of Oil discovered in Australia. Possibly 233 billion barrells

deltav · 07-25-2013, 10:17 AM

Here's an article from last January where the CEO of Linc Energy himself walks back those reported estimates:

http://www.smh.com.au/business/20-tr...124-2d8zf.html

"‘‘That’s not our valution. I don’t know who did that but someone’s got a calculator out and come up with that number ... but we wouldn’t put a valuation on it at this stage. It’s too hard."

‘‘Obviously if you want to stand up there and come up with $US100 times 100 billion barrels, you’ll come up with a big number. That’s not how you value oil resources anyway.’’

‘‘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.’’

So, yeah.
The article linked by the OP that started this whole thread was written by this retard - http://theeconomiccollapseblog.com/ - you really should read less of that stuff, it'll rot yer brain...

07-25-2013, 10:17 AM
deltav Confirmed User Industry Role: Join Date: May 2010 Location: USA Posts: 1,243	Here's an article from last January where the CEO of Linc Energy himself walks back those reported estimates: http://www.smh.com.au/business/20-tr...124-2d8zf.html "‘‘That’s not our valution. I don’t know who did that but someone’s got a calculator out and come up with that number ... but we wouldn’t put a valuation on it at this stage. It’s too hard." ‘‘Obviously if you want to stand up there and come up with $US100 times 100 billion barrels, you’ll come up with a big number. That’s not how you value oil resources anyway.’’ ‘‘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.’’ So, yeah. The article linked by the OP that started this whole thread was written by this retard - http://theeconomiccollapseblog.com/ - you really should read less of that stuff, it'll rot yer brain... __________________ ********* DeltaofVenus.com - Vintage Erotica from the 1800s through 1979 Last edited by deltav; 07-25-2013 at 10:23 AM..