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$20 trillion shale oil find surrounding Coober Pedy 'can fuel Australia'
Adelaide Advertiser ^ | 24th January 2013 | Cameron England

Posted on 01/23/2013 4:51:04 PM PST by naturalman1975

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.

.....

Mr Bond said there was the potential for a US-style "shale oil" boom in SA.

The Wall Street Journal reported last week the US could pass Saudi Arabia as the world's largest oil producer this year, thanks to the shale oil explosion.

Shale oil extraction involves using new technologies to drill vertically and then horizontally for distances of more than one kilometre through shale rocks that contain oil.

The process was once prohibitively expensive but advances have created a new oil boom in the US.

(Excerpt) Read more at news.com.au ...


TOPICS: Australia/New Zealand; Culture/Society; Foreign Affairs; News/Current Events
KEYWORDS:

1 posted on 01/23/2013 4:51:10 PM PST by naturalman1975
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To: naturalman1975

Good deal for Australia.


2 posted on 01/23/2013 4:55:08 PM PST by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: naturalman1975

Wait ‘till the chicoms inform PM Gillard that the Arckaringa Basin is historically part of China.


3 posted on 01/23/2013 4:56:01 PM PST by skeeter
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To: naturalman1975

Coober Pedy is an opal mining town, lot’s of people
live in underground homes as I remember.


4 posted on 01/23/2013 4:59:17 PM PST by tet68 ( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
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To: naturalman1975
"the potential for a US-style "shale oil" boom in SA"

Yes, good for Oz, but how good is it to read about a "US style oil boom." We aren't done yet...

5 posted on 01/23/2013 5:01:29 PM PST by hinckley buzzard
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To: naturalman1975

This just isn’t possible. I have been assured by a liberal/green enviro elitist that I know that we have hit peek oil.And while there are ways to pull more oil from existing sources using technology, there just is no more oil to find!
That is why we have to cover acres of desert with solar panels and butcher birds with with giant windmills! I have seen the light no more drilling, we can destroy more of nature with solar panels and windmills than we ever could with oil! And the best part we can feel good about it at the same time!


6 posted on 01/23/2013 5:02:52 PM PST by Mastador1 (I'll take a bad dog over a good politician any day!)
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To: naturalman1975

If you were the Saudis you might fund some environmental groups to try and tie it up in court. Maybe some politicians to lead the fight against global warming. Whatever it takes.

Of course, the flip side, everyone would know that anyone coming out against it is a Saudi shill. You would think.


7 posted on 01/23/2013 5:03:37 PM PST by marron
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To: naturalman1975

“....enough to turn Australia into a self-sufficient fuel producer.”

.
The same situation exists in the US.

What what will happen to our “friends” the Saudies and all the other muslim countries when we decide to compete in oil production on the world market?

They will have to eat sand because, even after 70 years of ME oil production, these muslim countries still depend on foreign engineering knowledge to get their oil to the surface and further refining.

Ah, the blessings of islam.


8 posted on 01/23/2013 5:05:27 PM PST by 353FMG ( I refuse to specify whether I am serious or sarcastic -- I respect FReepers too much.)
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To: naturalman1975
OPEC will not be happy. They can no longer dictate their muslim will on others.
9 posted on 01/23/2013 5:10:49 PM PST by mountainlion (Live well for those that did not make it back.)
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To: thackney

ping


10 posted on 01/23/2013 5:14:31 PM PST by dirtboy
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To: tet68
Gorgeous fire opal comes out of Cooper Pedy.

As a 13 y.o. I was deep into lapidary and spent hours in the basement grinding my precious stones against the wheel.

Obviously, I lost interest when I discovered girls. To be more precise, I lost interest when girls discovered me.

11 posted on 01/23/2013 5:16:50 PM PST by billorites (freepo ergo sum)
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To: tet68

I was in Coober Pedy back in ‘83. Even had a hotel underground. The name means “White man live in hole” in the local Abo language.


12 posted on 01/23/2013 5:19:41 PM PST by Alas Babylon!
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To: naturalman1975
BWHAHA BAD NEWS for the OPEC-ERS.... The more cheap oil the world finds the sooner the day comes when we can all go back home and let the jihadis slaughter one another... It'LL be a big disapointment for algore and his crowd...though. Best of all we can get back to building safe, powerful, big, fast comfortable beauties with giant 'vista' windshields that ride like living room sofas over sheets of glass. Whisper Quiet.... I.E. LINCOLN TOWNE CARs...the GRAND MARKQUIS , CROWN VICS AND THE GIANT FINNED SLEEK CADDYS....OF YESTERYEAR...i'm drivin mine into AL's front yard, only to honk the horn at him for a half hour and flip him the bird for another....
13 posted on 01/23/2013 5:20:00 PM PST by jimsin
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To: naturalman1975
BWHAHA BAD NEWS for the OPEC-ERS.... The more cheap oil the world finds the sooner the day comes when we can all go back home and let the jihadis slaughter one another... It'LL be a big disapointment for algore and his crowd...though. Best of all we can get back to building safe, powerful, big, fast comfortable beauties with giant 'vista' windshields that ride like living room sofas over sheets of glass. Whisper Quiet.... I.E. LINCOLN TOWNE CARs...the GRAND MARKQUIS , CROWN VICS AND THE GIANT FINNED SLEEK CADDYS....OF YESTERYEAR...i'm drivin mine into AL's front yard, only to honk the horn at him for a half hour and flip him the bird for another....
14 posted on 01/23/2013 5:21:57 PM PST by jimsin
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To: marron

15 posted on 01/23/2013 5:24:46 PM PST by bayouranger (The 1st victim of islam is the person who practices the lie.)
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To: marron

It’s still the best form or representative govt that Saudi oil money can buy!


16 posted on 01/23/2013 5:40:09 PM PST by rawcatslyentist ("Behold, I am against you, O arrogant one," Jeremiah 50:31)
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To: naturalman1975

I wonder if they have enough fresh water for the fracs.


17 posted on 01/23/2013 6:43:44 PM PST by crusty old prospector
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To: crusty old prospector
I wonder if they have enough fresh water for the fracs.

In the absence of fresh water, Coober Pedy would have plenty of kangaroo pee and Foster's available.

18 posted on 01/23/2013 6:50:07 PM PST by okie01 (The Mainstream Media: IGNORANCE ON PARADE)
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To: tet68

19 posted on 01/23/2013 7:23:57 PM PST by Rebelbase
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To: billorites
"...spent hours in the basement grinding my precious stones against the wheel"

"I lost interest when I discovered girls"

At first glance the first statement seemed to make the second redundant.

20 posted on 01/23/2013 7:30:48 PM PST by mitch5501 ("make your calling and election sure: for if ye do these things ye shall never fall")
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To: naturalman1975

Good on ya, mates!


21 posted on 01/23/2013 7:44:23 PM PST by stboz
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To: thackney

Your thoughts?


22 posted on 01/23/2013 7:50:57 PM PST by Fractal Trader
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To: dirtboy; Fractal Trader

Looks like a real find. More info at the original report:

http://www.lincenergy.com/data/asxpdf/ASX-LNC-458.pdf


23 posted on 01/24/2013 4:53:21 AM PST by thackney (life is fragile, handle with prayer)
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