Seems that those around The Arck dont think much is going to...

Seems that those around The Arck dont think much is going to happen either-seems the lack of noise from the company is catching


Coober Pedy’s shale oil a pipe dream? - 29-Jan-2014 Milie Thomas


Untapped shale oil and gas beneath the Arckaringa basin announced this time last year continues to be developed by Brisbane Company Linc Energy, but locals remain sceptical, saying it could all still be a pipe dream.
The announcement of a discovery $20 trillion barrels of shale oil near Coober Pedy came in January last year, with developer Linc Energy releasing drilling and seismic exploration reports that estimated there to be anywhere between 3.5 billion to 233 billion barrels of oil in the area.
The prospect continues to be explored, with Linc Energy releasing a statement on December 24 last year stating discussions were continuing with potential investment partners.
According to the release, Adelaide based operating division of Linc Energy SAPEX is preparing for the next phase of exploration in the Arckaringa Basin. Active field work is to commence in the first quarter of 2014.
Drilling plans for the next phase will involve up to five wells designed for detailed sampling and analysis of rock layers within the targeted formations with the most prospective Shale Gas and Shale Oil source rock.
The statement also said, “Seismic objectives will include recording of 3D surveys for the first time in this basin, and ongoing 2D surveys which will extend coverage over relatively unexplored areas and provide more lines in the most prospective areas.”
However, some locals remain sceptical of the operation’s impending success.
“There’s a lot of hype,” one said. “There’s probably oil there but whether they ever get to it, because as far as I can see, the oil is underneath the artesian basin. There’s a lot of mucking around.
“Gas is going to be the future, but whether any of it ever comes out of here is another story.
“I think theirs is a bit of a pipe dream.”

http://www.themonitor.com.au/news-articles/140129-coober-pedy-s-shale-oil-a-pipe-dream