Hi Mr H. ......................... was intending to reply last...

Hi Mr H. ......................... was intending to reply last night but my ipad refused to co-operate!!!!

Basically I owe you an apology as you appear to be correct but must admit, after a bit of research, have discovered that we must be clear in what we are discussing regarding oil from shale, and I will be the first to admit that I was not aware of the facts below.

Below is a Wika link which discusses Shale Oil but also points out that shale oil is very different from Oil Bearing shale and the two are most definitely not the same!!!

https://en.wikipedia.org/wiki/Oil_shale

Basically shale oil is a bitumen or Kerogen which by its very nature can be burnt but is only used power generation etc were as Oil Bearing shale is a light sweet oil that is comparable to conventional crude!!!!

In summery, we have been discussing 'shale oil' however we the correct term should be 'oil bearing shale' a minor difference I know but massive difference in the product!!!

Also have provided a link to a 2013 report completed by Standard & Poors which, considering what has happened to commodities, makes interesting reading

http://www.standardandpoors.com/spf/ratings/CA_CO_TCON_2013June17_CdnCrudeOil.pdf

Happy reading, if the weather is the same as Brisbane then you will have plenty of time!!!

HKP