Linc Energy: Shale Deposits in PEL 121, 122 Could Hold 103-233 Bboe.
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Description
Brisbane-based Linc Energy reported that study results from three shale oil deposits indicate that PEL 121 and 122 in South Australia could contain 103 billion to 233 billion bbl. of oil equivalent in unrisked prospective resources. Two independent reviews of the discovery in Stuart Range, Boorthanna, and Pre-Permian, are rich in oil and gas prone kerogen and may form the basis for a new liquids-rich shale play. Linc added that the three formations are comparable to liquids plays such as Bakken and Eagle Ford. Linc Energy is the operator of the Arckaringa Basin permits and discovery with 100% interest.
Description
Brisbane-based Linc Energy reported that study results from three shale oil deposits indicate that PEL 121 and 122 in South Australia could contain 103 billion to 233 billion bbl. of oil equivalent in unrisked prospective resources. Two independent reviews of the discovery in Stuart Range, Boorthanna, and Pre-Permian, are rich in oil and gas prone kerogen and may form the basis for a new liquids-rich shale play. Linc added that the three formations are comparable to liquids plays such as Bakken and Eagle Ford. Linc Energy is the operator of the Arckaringa Basin permits and discovery with 100% interest.