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  • sandonthebeach47 sandonthebeach47 Jan 23, 2013 10:13 PM Flag

    OT: Australian Oil Find May Be Double Marcellus/Utica

    Well, based on this below and that post:

    "Mr Koutsantonis said: "We have seen the hugely positive impact shale projects like Bakken and Eagle Ford have had on the US 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 and Altona prove up their resources."

    Mr Bond said the potential in SA was "massive", but even at the lower end of estimates - about 3.5 billion barrels - it was still very large.

    "If you look at the upper target, which is 103-233 billion barrels of oil, that's massive," he said."

    if Continental Resources estimates the oil in the Williston basin at containing 903 Billion Barrels [which they now do] because the multiple benches of the three forks are now also included.

    ....does that make it worth about 9 times that or about $180 Trillion?

    I doubt it.

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    • I doubt it too because you said Mr. Hamm is wrong because the ND State estimates are the only ones that are right.

      • 1 Reply to rlp2451
      • On:

        "I doubt it too because you said Mr. Hamm is wrong because the ND State estimates are the only ones that are right."

        I did not say that.

        You said that i said that.....same old RLP-routine.....

        When you said that (incorrect info) I asked you why you thought that the state did not have the Continental resources estimate numbers......and, you were non-responsive.

        You seem to like to mix your info to the form you like for the story that you are here are the reserve estimate sources:
        USGS.....2008....for baakken (only) now being re-done expected to be out in 2013 to include three forks.

        The ND state Geological Survey.....2011 estimate

        The Continental resources estimate of 2012 for 903 Billion barrels for the Williston basin.

        Leigh Price estimate of 2000 for the bakken.

        Take your pick and spin whatever story you like with the published reserves estimate data.

0.180.00(0.00%)May 23 3:59 PMEDT