Just been reading the recent report again.....Points 28 and 29. I realise we are talking potential estimates and very early days here with a lot of work to be done but I find it hard to get my mind round some of the huge figures quoted here.
Anyone care to comment?
28. As the shale gas is expected be rich in liquid homologues a similar conversion rate, which will conservative, can be assumed for shale gas synthesis. The company‟s entire Canning Basin acreage package with �low�, �best� and �high� estimates of recoverable potential shale gas resources could upon �proof of economic USG to GTL project concept� conceivably fuel a similar 140,000 bbl/day GTL plant for approximately 112 years, 258 years and 516 years respectively (i.e potential prospective gross resources / required annual production yields a hypothetical �R/P life potential‟ which is potentially much greater than that of CSG). 29. Obviously a much larger capacity plant or multiple modular plants may need to be considered with raw gas feedstock sourced from USG resources should the proof of economic production project concept be technically demonstrated in a future USG Pilot Project.
OBL Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
