Getbig Bodybuilding, Figure and Fitness Forums
October 20, 2014, 11:13:29 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
 
   Home   Help Login Register  
Pages: [1]   Go Down
  Print  
Author Topic: Oil discovery in Australia’s outback could ‘transform world’s oil industry’  (Read 299 times)
blacken700
Getbig V
*****
Posts: 10933


Getbig!


« on: January 24, 2013, 06:32:54 PM »

Source: Calgary Herald

SYDNEY - Up to 233 billion barrels of oil has been discovered in the Australian outback which could be worth trillions of dollars, in a discovery that could turn the region into a new Saudi Arabia.
 
The discovery in central Australia was reported to the stock exchange by Linc Energy, an energy company and was based on two consultants’ reports, though it is not yet known how commercially viable it will be to access the oil.
 
The reports estimated that the company’s 16 million acres of land in the Arckaringa Basin in South Australia contain between 133 billion and 233 billion barrels of shale oil trapped in rocks. It is likely that only 3.5 billion barrels, worth almost $359 billion at today’s oil price, could be recovered.
 
The find was likened to the Bakken and Eagle Ford shale oil projects in the US, which have resulted in massive outflows and led to predictions that the US could overtake Saudi Arabia as the world’s largest oil producer as soon as this year. Peter Bond, Linc Energy’s chief executive, said the find could transform the world’s oil industry, but noted that it would cost about pounds 200million to enable production in the area.

Read more: http://www.calgaryherald.com/life/discovery+Australia+outback+could+transform+world+industry/7867469/story.html









 







Report to moderator   Logged
Soul Crusher
Competitors
Getbig V
*****
Posts: 9214


Doesnt lie about lifting.


« Reply #1 on: January 24, 2013, 07:58:39 PM »

O-SHIT is pissed off over this 
Report to moderator   Logged
Roger Bacon
Getbig V
*****
Posts: 21019


Roger Bacon tries to be witty and fails


« Reply #2 on: January 24, 2013, 08:29:36 PM »

Getbig's webcke owns thousands of acres in the outback.  This explains his absence!  Grin
Report to moderator   Logged

Montague
Getbig V
*****
Gender: Male
Posts: 11969



« Reply #3 on: January 25, 2013, 02:49:51 AM »

In before, "So, does that mean we're invading them next?"
Report to moderator   Logged
booty
Getbig V
*****
Gender: Female
Posts: 12220


« Reply #4 on: January 25, 2013, 02:59:59 AM »

Well that's nice. 
Report to moderator   Logged
WOOO
Getbig V
*****
Gender: Male
Posts: 15968


Mr. Unpopular


« Reply #5 on: January 25, 2013, 04:50:11 AM »

O-SHIT is pissed off over this 

SUED!!!!!!!!!!!!!!!!!!
Report to moderator   Logged
falco
Getbig V
*****
Posts: 4232



« Reply #6 on: January 25, 2013, 08:28:58 AM »

Sounds like a well elaborate scheme. Gas prices just won't go down, mark my words.
Report to moderator   Logged
GigantorX
Getbig V
*****
Posts: 5462


GetBig's A-Team is the Light of Truth!


« Reply #7 on: January 25, 2013, 08:34:42 AM »

Sounds like a well elaborate scheme. Gas prices just won't go down, mark my words.

A huge oil find doesn't automatically = lower gas prices. It depends on how ROEI and ROI. How much capital does it take to extract a barrel from the field, that is the question.
Report to moderator   Logged
240 is Back
Getbig V
*****
Posts: 83997


Complete website for only $300- www.300website.com


WWW
« Reply #8 on: January 25, 2013, 09:14:18 AM »

sounds like those australians will need 'liberated' soon.  let's bring them democracy!
Report to moderator   Logged

Pages: [1]   Go Up
  Print  
 
Jump to:  

Theme created by Egad Community. Powered by MySQL Powered by PHP Powered by SMF 1.1.20 | SMF © 2013, Simple Machines Valid XHTML 1.0! Valid CSS!