$20 tril. not: reality check for linc oil find

From Brisbane Times today -

Linc Energy is distancing itself from estimates in today’s media that it may be sitting on a $20 trillion worth of oil in South Australia’s Arckaringa Basin.

Linc’s shares rocketed more than 30 per cent to an 18-month high of $2.82 today after it told the stock exchange yesterday that two independent consultants estimated there was an ‘‘unrisked prospective resource’’ of up to 223 billion barrels of oil equivalent in three shale formations within its 100 per cent-held Arckaringa exploration permits.


Read more: http://www.brisbanetimes.com.au/business/20-trillion--not-reality-check-for-linc-oil-find-20130124-2d8zf.html#ixzz2IrThlnpZ