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.
Sunday, July 28, 2013
Mineral Rich Australia May Contain World’s Next Major Oil Find | MND: Your Daily Dose of Counter-Theory
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