you know what else sicho...
Oil from cannel coal and torbanite is a heavy, sticky, low api oil. If you refine it into gasoline/petrol, a lighter, higher api oil, you have to waste a high percentage of the oil.
But instead, if you turn it into bitumen.... much more of the oil gets used, much less is wasted. The financials swing in your favour. How much in your favour?
Alpha's JORC is 28mt for 28mmboe, about $3b value. The 28mmboe is calculated by MFA, the standard method, using pyrolysis, to calculate oil yield from shales. At Alpha it means a 13-15% yield.
Consider where liquefaction is at after phase 5....lab scale ~30% bitumen yield. if GRV can produce the same results at scale for a JORC standard resource upgrade, 28mt at 30% bitumen yield at $1500/t is about $13b value.
See the difference?
you know what else sicho... Oil from cannel coal and torbanite...
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