Boatloads of Oil discovered in Australia. Possibly 233 billion barrells - GoFuckYourself.com

Phoenix · 07-25-2013, 09:50 AM

Finally democracy can come to Australia.

haha...jk

http://michaelsnyder.mensnewsdaily.c...y-in-50-years/

Not exactly oil Kerogen. However i suspect technology to extract it will be forthcoming soon.

In a virtually uninhabitable section of South Australia, a discovery has been made which could rock the world. Some are calling it the biggest discovery of oil in 50 years. Earlier this year, a company called Linc Energy announced that tests had revealed that there was a minimum of 3.5 billion barrels of oil equivalent sitting under more than 65,000 square kilometres of land that it owns in the Arckaringa Basin. But that is the minimum number. It has been projected that there could ultimately be up to 233 billion barrels of recoverable oil in the area. If that turns out to be accurate, the oil sitting under that land is worth approximately 20 trillion dollars, and it would be roughly equivalent to the total amount of oil sitting under the sands of Saudi Arabia. In essence, it would be a massive game changer.

Hopefully some locals get to make some big money.

Chosen · 07-25-2013, 09:51 AM

Quote:

Originally Posted by Phoenix

Finally democracy can come to Australia.

haha...jk

media · 07-25-2013, 09:52 AM

Quote:

Originally Posted by Phoenix

Hopefully some locals get to make some big money.

Yeah, and hopefully we see a chunk of savings at the gas pump somehow... not likely though..

_Richard_ · 07-25-2013, 09:54 AM

Quote:

Originally Posted by Phoenix

Finally democracy can come to Australia.

haha...jk

huge news if this is true

onwebcam · 07-25-2013, 09:58 AM

I'm sure they just happend to own the land and just stumbled upon it. It's just like all of these other "finds" they've known about all along but it doesn't fit in with the "we're runnning out of oil" myth.

BTW when are we going to invade?

Markul · 07-25-2013, 10:01 AM

Quote:

Originally Posted by media

Yeah, and hopefully we see a chunk of savings at the gas pump somehow... not likely though..

lol that's never going to happen. My country produces more oil than we can consume ourself and we still have to pay more than $2 per liter of gasoline (that's about $8 per Gallon) - go figure.

CaptainHowdy · 07-25-2013, 10:02 AM

Rochard · 07-25-2013, 10:03 AM

Time for us to invade Australia!

deltav · 07-25-2013, 10:05 AM

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.

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...

_Richard_ · 07-25-2013, 10:21 AM

Quote:

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.

Quote:

??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.

yea just shale, that's too bad

huge deposits of the stuff in NA as well

CaptainHowdy · 07-25-2013, 10:22 AM

Quote:

Originally Posted by Rochard

Time for us to invade Australia!

...

baddog · 07-25-2013, 10:24 AM

That oil is probably the only thing that keep the island floating.

Quote:

Originally Posted by media

Yeah, and hopefully we see a chunk of savings at the gas pump somehow... not likely though..

Why would Australian oil reduce US prices?

JFK · 07-25-2013, 10:31 AM

Quote:

Originally Posted by media

Yeah, and hopefully we see a chunk of savings at the gas pump somehow... not likely though..

Dreamer

Scott McD · 07-25-2013, 10:40 AM

Our gas prices are still rising almost daily here...

dyna mo · 07-25-2013, 10:41 AM

ReggieDurango · 07-25-2013, 10:43 AM

I Love Australia

PR_Glen · 07-25-2013, 10:48 AM

Quote:

Originally Posted by onwebcam

I'm sure they just happend to own the land and just stumbled upon it. It's just like all of these other "finds" they've known about all along but it doesn't fit in with the "we're runnning out of oil" myth.

BTW when are we going to invade?

damn.. we finally found something to agree on.. haha

The way i see it if you can afford to drill deep enough oil will present itself. I've never believed it came from dinosaurs either but that is a different discussion.

deltav · 07-25-2013, 10:54 AM

Quote:

Originally Posted by PR_Glen

I've never believed it came from dinosaurs either but that is a different discussion.

Squirted into the ground by mighty Yahweh 6000 years ago?

pimpmaster9000 · 07-25-2013, 10:55 AM

pimpmaster9000 · 07-25-2013, 10:56 AM

pimpmaster9000 · 07-25-2013, 10:57 AM

Creatine · 07-25-2013, 11:00 AM

Tom_PM · 07-25-2013, 11:02 AM

Meanwhile in the Gulf of Mexico a natural gas well burns down it's platform rig while they consider drilling a relief well.

Is it even in the news?

CAHEK · 07-25-2013, 11:36 AM

Fake article ?

_Richard_ · 07-25-2013, 11:40 AM

Quote:

Originally Posted by PR_Tom

Meanwhile in the Gulf of Mexico a natural gas well burns down it's platform rig while they consider drilling a relief well.

Is it even in the news?

http://abcnews.go.com/US/wireStory/a...f-rig-19761753

relief well talk yesterday.. this whole thing has the potential to make the BP spill pale in comparison

baddog · 07-25-2013, 12:28 PM

Quote:

Originally Posted by PR_Glen

I've never believed it came from dinosaurs either but that is a different discussion.

I almost feel like starting a thread so we can have that discussion. Do you have an opinion that differs from the official story on where pearls come from? Diamonds?

georgeyw · 07-25-2013, 01:32 PM

Quote:

Originally Posted by PR_Glen

damn.. we finally found something to agree on.. haha

The way i see it if you can afford to drill deep enough oil will present itself. I've never believed it came from dinosaurs either but that is a different discussion.

Oil from dinosaurs? Did I really just read that? Next you will tell me chickens lat golden eggs.

winter_ · 07-25-2013, 03:27 PM

there is a supposeded ozone layer hole over my country and we're supposed to get extremely hot summers. this summer might be for me extremely hot, you know what i mean.

Phoenix · 07-25-2013, 04:07 PM

Quote:

Originally Posted by winter_

there is a supposeded ozone layer hole over my country and we're supposed to get extremely hot summers. this summer might be for me extremely hot, you know what i mean.

i am not sure anyone knows what you mean..lol

have a luck

07-25-2013, 09:50 AM	#1
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,457	Boatloads of Oil discovered in Australia. Possibly 233 billion barrells Finally democracy can come to Australia. haha...jk http://michaelsnyder.mensnewsdaily.c...y-in-50-years/ Not exactly oil Kerogen. However i suspect technology to extract it will be forthcoming soon. In a virtually uninhabitable section of South Australia, a discovery has been made which could rock the world. Some are calling it the biggest discovery of oil in 50 years. Earlier this year, a company called Linc Energy announced that tests had revealed that there was a minimum of 3.5 billion barrels of oil equivalent sitting under more than 65,000 square kilometres of land that it owns in the Arckaringa Basin. But that is the minimum number. It has been projected that there could ultimately be up to 233 billion barrels of recoverable oil in the area. If that turns out to be accurate, the oil sitting under that land is worth approximately 20 trillion dollars, and it would be roughly equivalent to the total amount of oil sitting under the sands of Saudi Arabia. In essence, it would be a massive game changer. Hopefully some locals get to make some big money. __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

07-25-2013, 09:58 AM	#5
onwebcam Fake Nick 1.0 Industry Role: Join Date: Oct 2005 Location: Rent free, your head Posts: 27,668	I'm sure they just happend to own the land and just stumbled upon it. It's just like all of these other "finds" they've known about all along but it doesn't fit in with the "we're runnning out of oil" myth. BTW when are we going to invade? __________________ PLEASE WAIT WHILE BIDEN ADMIN UNINSTALLS ITSELF..... ██████████████████▒ 99.5% complete.

07-25-2013, 10:03 AM	#8
Rochard Jägermeister Test Pilot Industry Role: Join Date: Dec 2001 Location: NORCAL Posts: 73,962	Time for us to invade Australia! __________________ “The choice is no longer between right or left. The choice is between normal and crazy.” - Sarah Huckabee Sanders YNOT MAIL \| THE BEST ADULT MAILING SOLUTION

07-25-2013, 10:05 AM	#9
deltav Confirmed User Industry Role: Join Date: May 2010 Location: USA Posts: 1,243	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. __________________ ********* DeltaofVenus.com - Vintage Erotica from the 1800s through 1979

07-25-2013, 10:17 AM	#10
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..

07-25-2013, 10:02 AM	#7
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07-25-2013, 10:40 AM	#15
Scott McD Too lazy to set a custom title Join Date: Nov 2002 Location: Glasgow, Scotland Posts: 67,795	Our gas prices are still rising almost daily here... __________________ I Buy My High Quality Traffic Here, You Should Too!

07-25-2013, 10:41 AM	#16
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07-25-2013, 10:43 AM	#17
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07-25-2013, 11:02 AM	#24
Tom_PM Porn Meister Industry Role: Join Date: Feb 2005 Posts: 16,443	Meanwhile in the Gulf of Mexico a natural gas well burns down it's platform rig while they consider drilling a relief well. Is it even in the news? __________________ 43-922-863 Shut up and play your guitar.

07-25-2013, 11:36 AM	#25
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07-25-2013, 03:27 PM	#29
winter_ So Fucking Banned Industry Role: Join Date: Apr 2013 Location: Perth, Adelaide, Auckland, Seattle Posts: 750	there is a supposeded ozone layer hole over my country and we're supposed to get extremely hot summers. this summer might be for me extremely hot, you know what i mean.