Is Arckaringa Basin Really a Game-Changer?
According to Dr. Kent Moors at Money Map Press the Arckaringa Basin shale oil discovery is going to change everything. If the untapped amounts are true, rocketing from early estimates of 3.5 billion barrels to a mind-blowing 233 billion barrels, he could be right.
This staggering amount rivals the estimated (and arguably inflated) reserves of 260 billion barrels in Saudi Arabia. What’s more, the Bakken Formation has dramatically changed the energy outlook in North America and is SIX TIMES SMALLER than the Arckaringa Basin.
The amazing part of this story is who controls the majority of these reserves. The winner is Linc Energy Ltd., a worldwide diversified energy company with coal gasification and gas-to-liquids technologies in Australia, North America, Europe, South Africa, and Uzbekistan. Based in Brisbane, Australia they are also involved in the exploration of petroleum exploration tenements with a total area of approximately 24,600,000 acres in the Arckaringa, Cooper, Eromanga, Walloway, and Stansbury basins in South Australia.
In early 2013 the company released two exploration reports in the 30,000 square mile area Arckaringa Basin. From their website:
Linc Energy’s technical analysis of data obtained from wells drilled to date within the Arckaringa Basin indicates that the formations encountered have excellent resource play potential with total organic carbon (TOC) levels, permeability, porosity and thickness comparing favourably to prolific US unconventional petroleum plays such as Bakken and Eagle Ford.
According to OilPrice.com and Dr. Moors, Linc Energy is seeking partners to help finance and develop the region. In a July 2013 article Linc’s CEO Peter Bond disclosed they were hoping to narrow talks to one group in “a few weeks.” As of this writing there has not been an announcement. In a recent newsletter promotion Dr. Moors hinted that things are heating up.
One thing is certain; when production does start there will be plenty of investment opportunities. Stay tuned investors…