Thanks for the reply KL,It is about time that the players in the...

Thanks for the reply KL,

It is about time that the players in the Oil Shale sphere in Qld get the message out to the world.

The QLD Oil Shales are open for business with government backing .. with caveats.. but the path to Shale Oil from the rock is now open to exploitation.

It's only taken 40 years!

There have been many losers along the way.. mainly due to inadequate technology and the price of oil.

This is history now. The Tech is fine now, Fushun in China are going gang busters with their production, The Russians have been using the Galoter process for decades ,The Israelis, Jordanians and Moroccans are all about to start final trials and expediting the process to production.

The US, Shell, Exxon, Chevron and a multitude of others have spent a massive amount of money in recent times to perfect their in situ processes but they all been thwarted recently by Government restrictions.

QLD gov't has given a green light to the production path now ..unlike the US.

QLD has a massive amount of Oil tied up in the shales .. It is well known but not so well known amongst the punters out there.

The Julia Creek region (Toolebuc shales) holds one of the biggest sources of Oil and Gas on the planet in a very defined rock formation suitable for in situ or above ground retorting.

The Oil shales in the GRV areas also hold a huge amount of Oil and associated Gas bound within the rock.

The beauty is this:

You do not have to spend $10-20Mill per wildcat drill to prove up a resource in traditional "unconventional" low porosity/permeability shales 2000+ mtrs below the surface with the fraccing required to produce a sweet spot... if you find one!

The Oil Shales are like a big coal seam ..close to surface and very defineable. That is the global attraction. There is a massive amount of it .. clearly defined ..and it's also in QLD.

The Toolebuc shales will eventually (not very far off) be proven to hold reserves of 50 billion barrels of Oil as a base line, and the associated gas will come in at about 20-30kg Gas per tonne of Oil shale. You do the calcs to bring it to TCF .. I have.

The quantum of Gas should then reflect the largest single reserve in one area in Australia ..by a country mile...it's mind boggling.

The numbers are there .. no fiction ,no bullshit .. you just need to delve deeply into historical data.

You just need a JORC to define an appropriate resource...not many players left in the game have done one.

I notice that Intermin Resources have now taken back the Oil shale in their deal with Global Oil shale...albeit in one of their areas. They originally sold the Shale oil rights off in lieu of the Vanadium and Moly, etc.

GRV's partners, QER, are backed by the Ziff Bros, out of New York ..they have pumped a lot of money into the play.

The bulk of the public do not know the potential .. this may change very shortly. It will be a new dawn for Australia's Oil and Gas independence when the production starts .. might be a while, but it will happen.

It will be a game changer for the Oil shale players in Oz ..there are only a handful.

The word will get around ..very quickly.

By the way KL .. the small CR will not be enough for the scope of the quantum. However it may open up a marketing campaign for Joint Venture partners.

Just my opinions as usual,

No advice given or intended .. you just need to pull the historical data over the last 40 years to get to the reality of it.

Cheers

HR