coal question, page-6

IN the hours from midnight until 11am (eastern standard time) the world consumed another 39 million barrels of oil, according to the peak oil clock at the website of Syngas.

Syngas is targeting becoming a 30,000 barrels a day producer with three projects. The main focus is the Clinton project in South Australia, using lignite deposits combined with non-food biomass to produce diesel. A bankable feasibility study is now under way there, and preliminary engineering studies completed.

But it is also looking to using brown coal in Victoria as part of meeting its production goal. Today the company edged a little closer, announcing it has a JORC-compliant inferred resource of 289 million tonnes in the Gippsland Basin. This resource has been calculated from collating the data from 30 holes drilled between 1965 and 1985 by the then Victorian State Energy Commission and Esso Australia. Coal intersections were recorded as beginning at depths ranging from 11m to 156m below surface.

If the peak oil crowd are right, and we have started on the downward slope of production, then it augers well for new oil production technologies. You only have to start thinking about how much oil India and China will consume a decade from now to wonder whether the explorers can discover enough new resources under the earth surface.

http://www.theaustralian.com.au/business/mining-energy/breakthrough-for-venturex/story-e6frg9ex-1225880355788


How does CTP compare to this? :)