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Originally Posted by deltav
Huh. I remember this being reported last year or something, this is not a new story.
Also it is most likely just a "normal" shale oil find (i.e. very expensive & dirty to extract), with Linc Energy hyping it up in order to drum up investment (public subsidies anyone?) for the hundreds of millions of $$$ in infrastructure required to even start tapping it. Propaganda from Big Oil, I'd be highly surprised if it ever amounts to more than that.
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??Once you get to 1P (proven reserves) you get to $US10/barrel, or $US100,000 per flowing barrel.??
Shale plays tended to be valued on an acreage rate, ranging from $US1000-$US2000 an acre at the low end, to $US20,000 an acre at the high-end.
But Mr Bond did not walk away from the potential of the shale play at Arckaringa, where Linc has 16 million acres of which 2-3 million acres could be ??sweet spot?? territory.
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yea just shale, that's too bad
huge deposits of the stuff in NA as well