{"id":129,"date":"2013-04-09T15:57:29","date_gmt":"2013-04-09T20:57:29","guid":{"rendered":"http:\/\/www.accreditedinvestorleads.com\/?p=129"},"modified":"2020-01-22T13:12:12","modified_gmt":"2020-01-22T17:12:12","slug":"black-gold-in-australia","status":"publish","type":"post","link":"https:\/\/www.accreditedinvestorleads.com\/black-gold-in-australia\/","title":{"rendered":"Black Gold in Australia"},"content":{"rendered":"

On January 23rd Linc Energy (ASX: LNC) announced that they have two independent reports showing that oil, black gold, has been discovered in the Arckaringa Basin in Australia.\u00a0 These oil reserves are located in the the Pre-Permian, Stuart Range, and Boorthanna.\u00a0 One report by Gustavson estimates that 233 billion barrels of oil equivalent are in the reservoirs while DeGolyer and MacNaughton estimate 103 billion barrels are there.\u00a0 This could be a game changer in the oil industry.<\/p>\n

Linc Energy owns 16 million acres in the area and believes that 2-3 million acres have the majority of these reserves.\u00a0 Some independent reports have estimated that the oil<\/a> discovery could be worth $20 trillion for South Australia.\u00a0 Linc will not confirm this number stating that it is too early to put an exact value on the discovery.\u00a0 For those watching the market there is clear potential to benefit from this discovery as Linc is a publicly traded company.<\/p>\n

Reports show that the Stuart Range formation has significant oil and gas prone kerogen. These reports confirm Linc Energy’s view that the Arckaringa Basin is rich in resources which can be compared with US unconventional liquids plays such as the Bakken. Those in the US can point to the massive economic impact accessing those reserves had on the economy with sleepy states like North Dakota becoming boom towns with more people moving there than housing and ammenities to support them.\u00a0 This Australian discovery will not only generate massive revenue for Linc, position Australia for oil independence but also positively impact the Australian economy.<\/p>\n

In addition to identifying the potential reserves D&M also evaluated the likelihood of geological success.\u00a0 With a positive report in hand Linc Energy is looking to Barclays Bank to provide them with strategic guidance and help them secure a JV partner that is experienced in shale operations.\u00a0 They are estimated to need an additional $150 – $300 million for the next stagge of the project.\u00a0 Linc CEO, Peter Bond, was quoted as saying\u00a0 ‘Linc Energy is committed to delivering the best outcome for the development of this acreage and maximising value to shareholders. The best way for Linc Energy to do that is to bring in an industry expert with the know-how and funding to drive this asset forward to production as promptly and as efficiently as possible.’
\nLinc is not inclined to agree with the $20 trillion estimate for oil production but even their worst case scenario yields 3.5 billion BOE.\u00a0 This will be a boom for the Australian economy and has the ability to make them oil independent.\u00a0 If the reports are accurate Australie could become the worlds next major exporter of oil.\u00a0 Shares of Linc were trading at $2.82 so investors wanting to participate still can, at a low price.<\/p>\n

Green energy has become a popular investment over the past decade with just as much failure as success.\u00a0 Oil on the other hand is still a very tangible commodity, required by the modern world to operate factories and cars.\u00a0 As the economy improves oil demands will rise and the Australian discovery could be just in time.<\/p>\n

For more information please visit our mother site at<\/b> Salesleads.tv<\/b><\/a><\/h2>\n","protected":false},"excerpt":{"rendered":"

On January 23rd Linc Energy (ASX: LNC) announced that they have two independent reports showing that oil, black gold, has been discovered in the Arckaringa Basin in Australia.\u00a0 These oil reserves are located in the the Pre-Permian, Stuart Range, and Boorthanna.\u00a0 One report by Gustavson estimates that 233 billion barrels of oil equivalent are in<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[63],"tags":[],"yoast_head":"\nBlack Gold in Australia | AccreditedInvestorLeads.com<\/title>\n<meta name=\"description\" content=\"On January 23rd Linc Energy (ASX: 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