10 billion barrels , page-9

Marketinfo,

Thanks for your reply; sorry I am late, but I have just returned from my boating for the weekend.

For rough general comparatives of new oil discoveries or potential discoveries I usually employ an NPV oil price of $A20 anywhere in Australia. This is based on a $US70 [$A105] oil price over the long term as the breakeven price of those vital Canadian oil tar sands from which Shell recently deferred operations. Unless oil is $US70 or better, the world will not have its long term oil supply, as the Middle East will not be able to provide it. You might have other views, but having spent a lifetime in this field, this is my conclusion.If discoveries do occur, I continually adjust and refine my assumptions.

Hence, may I suggest that you reconsider my post. Conix