If it is uneconomical to recover oil from liquid rich shale could someone please tell BHP to pinch themselves and get out of the game.
I think that the expert independant analysis tells us that the potential of Arckaringa is massive, Linc want to take it to the next level and explore the commercial viability of the resource with a risk share partner with shale expertise to ramp up expensive exploration and help fund production setup.
Nothing is easy. What was Bakken 20 years ago?
Bigal36 - Reg Nelson is an industry player but is he saying that Barclays are idiots when it comes to shale oil business? Is he saying that DeGoyler analysts are fools? Is he propounding that MacNaugtons are noobs? No he isn't. At the time of that interview on ABC the hype of the media was insane. I think everyone with half a brain was chuckling at the $20 trillion $ hype the media grabbed hold of.
If 5% is economically recoverable then this play is still massive. .05 * 20 trillion = 1 trillion turnover project. Surely that is worth a look see from an oil major?
LNC Price at posting:
$1.10 Sentiment: LT Buy Disclosure: Held
