Best of the Week
Most Popular
1.U.S. Houses Prices Bull, Bear or Crash Ahead Into 2016? - Nadeem_Walayat
2.Gold Price Breakdown Forecast Downtrend to $1000 - Clive_Maund
3.USD, CAD, GBP, EURO,JPY and Gold Chartology - Rambus_Chartology
4.Silver Longs Still Vulnerable - Dan_Norcini
5.Get Ready for the Greatest Trade in History - William Patalon
6.Silver Price Looks Set for Breakdown - Clive_Maund
7.US Housing Market Bull, Bear or Crash Ahead? - 8Nadeem_Walayat
8.Gold and Silver Trading Alert: Silver Price and Its Signals - P_Radomski_CFA
9.Stock Market Caution as Greek Crisis Reaches Endgame - 1Christopher_Quigley
10.Gold And Silver - Elite NWO Checkmate? US Lacks Direction - Michael_Noonan
Last 5 days
Greece - Shoot the Dog and Sell the Farm - 29th June 15
Grexit?, BIS Warning, Chinese Market Crash & Systemic Risk Shake the Global Economy - 29th June 15
The New "Sharing Economy" May Not Be the Profit Bonanza Everyone's Expecting - 29th June 15
Gold and Silver Greece and Short Positions - 29th June 15
Volatility and Sleep-Walking Markets - 29th June 15
Greece BANKRUPT! Financial and Economic Collapse to Follow IMF Debt Default - 29th June 15
Stock Market More Decline Ahead? - 29th June 15
China Stock Market Crackup - The Final Trap Looms... - 29th June 15
Greece Banking System Collapse Monday as ECB Pulls the Plug, Capital Controls Ahead of GrExit - 28th June 15
Investor Stock Play for Two Growing Missile Threats - 28th June 15
Stock Market Uptrend/downtrend Inflection Point - 27th June 15
Greece Crisis OXI - 27th June 15
Gold And Silver – Three Choices: Sell, Hold, Hold and Add. A Trading Treatise - 27th June 15
It’s Time to Change the Way You Look at Disney Forever - 27th June 15
Flatline Investing and Dead End Debt Schemes - 27th June 15
Stock Market Investors Avoid the "Herd" Like the Plague - 26th June 15
Extreme Gold/Silver Shorting - 26th June 15
USD Daily, Weekly, Monthly & Conclusions - 26th June 15
Gold Price Target of USD 2,300 - 26th June 15
Gold and Silver - Another Successful Option Expiration For the Insiders - 26th June 15
Why Buffett Bet A Billion On Solar Energy - 26th June 15
Fed Taper Talk, And The $10 Bill - 25th June 15
When a Bond Is Not a Bond - 25th June 15
Nature Rebounds - Trends in America Portend a Global Restoration of Nature - 25th June 15
Stocks That Profit... Even When You're Dead Wrong - 25th June 15
When Will US Debt Hit the Wall? - 25th June 15
Ron Paul Warns “They Can’t Print Money Forever” - 25th June 15
In Gold We Trust 2015: Gold Remains In A Secular Bull Market - 25th June 15
European Empire Strikes Back Against Greek Debt Fantasy, Counting Down to GREXIT - 25th June 15
China Syndrome - 24th June 15
Greece - The Only Good Deal For Greece Is NO Deal - 24th June 15
Gold and Silver Price Headed for Breakdown - 24th June 15
Corporations vs. Entrepreneurship - 24th June 15
Sweet Spot for Gold Stock Investors - 24th June 15
It’s the World’s Most Powerful Investment Bank… and Now It’s Going to Work for You - 24th June 15
First Strike Capability - Gold or War - 23rd June 15
Greece / Stock Market Played Like a Bouzouki - 23rd June 15
Gold and Silver Forget Greece, Eyes On the Options - 23rd June 15
What Borders Mean to Europe - 23rd June 15
If You Have Money in a US Bank Account Be Aware! - 22nd June 15
The Most Dangerous Secret of Corporate America - 22nd June 15
Why British Muslims Are Leaving Elysium Paradise for Syrian Hell - 22nd June 15
Euro Uncertainty Reflected in COT Report - 22nd June 15
Stock Market Crash Charts - 22nd June 15
Public Pensions: Live and Let Die - 22nd June 15
De-Greece-ing the Stock Market - 22nd June 15
GOLD: Will Summer 2015 Rally Mark A Cyclical Turning Point? - 21st June 15
The Twilight of Cash? - 21st June 15
Shanghai China Stocks Sink: Déjà vu 2001 & 2007…All Over Again - 21st June 15

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

China Stocks - Where are they going?

World's Next Major Crude Oil Find in Mineral Rich Australia?

Commodities / Crude Oil Jul 23, 2013 - 10:15 AM GMT

By: OilPrice_Com

Commodities

Australia's massive mineral exports allowed it to weather the global recession, which began in 2008, quite nicely.

The U.S. government's Energy Information Administration noted in its country's analysis for Australia, "Australia, rich in hydrocarbons and uranium, was the world's second largest coal exporter in 2011 and the third largest liquefied natural gas (LNG) exporter in 2012. Australia is rich in commodities, including fossil fuel and uranium reserves, and is one of the few countries belonging to the Organization for Economic Cooperation and Development (OECD) that is a significant net hydrocarbon exporter, exporting over 70 percent of its total energy production according to government sources. Australia was the world's second largest coal exporter based on weight in 2011 and the third largest exporter of liquefied natural gas (LNG) in 2012."


Six months ago Brisbane company Linc Energy Ltd.Energy released two reports, based on drilling and seismic exploration, estimating the amount of shale oil in the as yet untapped 30,000 square mile Arckaringa Basin surrounding Coober Pedy ranging from 3.5 billion to a mind boggling 233 billion barrels of oil.

If the upper end estimates are correct then it means that the Arckaringa Basin is six times larger than the Bakken, seventeen times the size of the Marcellus formation, and 80 times larger than the Eagle Ford U.S. shale deposits.

To put the potential of the Arckaringa Basin in context, Saudi Arabian reserves are estimated at 263 billion barrels.

So, what next for Linc Energy Ltd.? The company has been in discussions to find a partner to develop the Arckaringa Basin after hiring Barclays Plc to help with the process and expects to narrow the talks to one group in a "few weeks," according to Linc Energy Ltd. chief executive officer Peter Bond. Bond added that Linc Energy Ltd.is talking with at least four parties from outside Australia interested in the shale oil project in the Arckaringa Basin.

Linc Energy Ltd . said that the characteristics of its Australian acreage "compare favorably" to the prolific Bakken and Eagle Ford shale regions of the U.S. Global energy companies including Chevron, ConocoPhillips, Statoil ASA and BG Group Plc are already making shale investments in Australia.

Australian State Mineral Resources Development Minister Tom Koutsantonis said, "Shale gas and shale oil will be a key part to securing Australia's energy security now and into the future. We have seen the hugely positive impact shale projects like Bakken and Eagle Ford have had on the U.S. economy. There is still a long way to go, but investment in unconventional liquid projects in South Australia will accelerate as more and more companies such as Linc Energy Ltd.Energy and Altona prove up their resources."

Natural gas?

Six basins in Australia stretching from coastal Queensland to Western Australia's far northwest contain recoverable shale resources of as much as 437 trillion cubic feet of gas, all of which was previously inaccessible because it is contained in shale formations, which could be unlocked by "hydraulic fracturing." But the U.S. Department of Energy predicts that Australia's shale gas industry will develop at a "moderate pace" because the nation's shale oil and gas resources do not as yet have the advanced production infrastructure that has underwritten the U.S. production boom.

And what if estimates for the Arckaringa Basin basin pan out? We'll leave the final word to the EIA, which notes, "Australia's stable political environment, relatively transparent regulatory structure, substantial hydrocarbon reserves, and proximity to Asian markets make it an attractive place for foreign investment. The government published an Energy White Paper in 2012 that outlines its energy policy including balancing its priority of maintaining energy security with increasing exports to help supply Asia's growing demand for fuel."

Accordingly, Adelaide had better upgrade its airport to handle all those energy company corporate jets that may well be visiting soon.

Source: http://oilprice.com/Energy/Crude-Oil/Australia-Next-Petro-Superstate.html

By. John C.K. Daly of Oilprice.com

© 2013 Copyright OilPrice.com- All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2015 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Biggest Debt Bomb in History