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Thread: Massive Oil Discovery in Australia, touted as a Deathblow to the Saudis.

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    Silver Member Trickzta's Avatar
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    Massive Oil Discovery in Australia, touted as a Deathblow to the Saudis.

    I'm not sure that I'm posting this in the right place or not. It is however a read once only type of thread. I am unable to advise anyone about anything, we will have seen the same thing and I have no more info than that I've posted. Hopefully someone finds this useful. My commission is not more than 70%. Phhhhhhhhhhht. Got you!

    Massive Oil Discovery Is Deathblow For Saudis
    It's the biggest find in 50 years and the media is completely ignoring it...

    It is 6 times larger than the Bakken, 17 times the size of the Marcellus formation, and 80 times larger than the Eagle Ford shale.

    All told the recent discovery outside a sleepy Australian town contains more black gold than in all of Iran, Iraq, Canada, or Venezuela.

    The current estimates of 233 billion barrels are just 30 billion barrels shy of the estimated reserves in all of Saudi Arabia.
    http://moneymorning.com/articles/thi...ack_id=adv_ead
    Bigger Than Gold: It's Time to Buy the Precious Metal That's Primed to Double

    At times like this, gold and silver typically grab all the attention... and attract all the "safe" money. But Palladium could blast past both of these, virtually overnight.

    That's because it has unique physical properties for which there is just no substitute - something its biggest consumers lose quite a bit of sleep over.

    Itís 15 times more rare than platinumÖ and 30 times rarer than gold. Plus, itís used in nearly every electronic device and is integral to the automobile industry.

    But thereís another reason why palladium will shoot up 70% in the next 6 months.

    From the same site as the oil find is from. I forgot to copy the link, and then possibly itís Australian, but Iím passing info on as Lonmin and other noble metal mining houses that produce platinum also recover palladium.
    If the outcome of a vote is unknown then voting is tantamount to gambling. If the outcome of a vote is known, then voting is futile. Robert Rorschach.

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    Silver Member Trickzta's Avatar
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    Quote Originally Posted by Trickzta View Post

    From the same site as the oil find is from. I forgot to copy the link, and then possibly it’s Australian, but I’m passing info on as Lonmin and other noble metal mining houses that produce platinum also recover palladium.
    Please note, it is the metal palladium that is noble, and not mining houses!

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    Moderator IanF's Avatar
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    This is on the website
    "Editor's Note: Experts value this find at over $20 trillion. To see the one stock that will deliver a record payday"
    So I am in the camp if it's too good to be true. It just looks like someone trying to sell a share.

    Tricksta maybe you can find more on this?
    Only stress when you can change the outcome!

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    tec0 (24-Jan-14), Trickzta (10-Jan-14)

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    Site Caretaker Dave A's Avatar
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    Tom Koutsantonis, South Australia’s mining minister, said the reserves were deep and remote and it was too early to confirm whether they can be profitably tapped.

    “All these things are luck and risk,” he said.

    “What we’re seeing up there is a very, very big deposit If the reserves and the pressure was right over millions of years and the rocks have done the things they think they’ve done, they think they can extract vast reserves of oil out of South Australia which would have a value of about $AUS20 trillion. (£13 trillion)”

    The consultants reports, based on drilling and geological and seismic surveys, did not indicate how easily the oil can be tapped or profitably produced.

    John Young, a resources analyst at investment group Wilson HTM, said the reserves were “massive” but the actual volumes that may emerge remained uncertain.

    “The numbers are going to be very large, but we really need to move from that [to] the quality of the resource - how good is it, how economic will it be, and that’s going to take a significant amount of exploration and appraisal work before the industry’s in a position to determine that,” he said.
    from http://www.telegraph.co.uk/news/worl...n-outback.html

    Can also look at http://www.abc.net.au/news/2013-01-2...ack-sa/4481982 - but the first one has more detail.

    The other thing to take note of is it's shale oil - extraction will require fracking.
    The trouble with opportunity is it normally comes dressed up as work.

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    Silver Member Trickzta's Avatar
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    Tricksta maybe you can find more on this?

    Messed that up. I will certainly try Ian, I'll do what I can, but don't hold your breath, lol.

    Came across it accidently and passed it on. Or so I thought anyway, but I will see what I can do. TC.

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    Silver Member Trickzta's Avatar
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    Dave, I'll be back soon. I'm battling with long posts with this Samsung duos. Tx.

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    Silver Member Trickzta's Avatar
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    Sorry for the delay Dave, got hung up witb my youngest, he passed Matric, and is pushing for an upgrade on his existing contract. Sort of, but most kids need their folks to feign umm show interest in their lives, not when their pals or gals are here though. Investing is a part of live.

    LUCK AND RISK AS FACTORS IN THE VIABILITY OF CRUDE OIL EXTRACTION BY UTILISING FRACKING METHODS

    It's all luck and risk, umm NO. Or is that remark being transparent and truthful and would that imply that the same is true of some/none/most/all other crude oil extracted by fracking & high pressure hydraulically injected chemicals.

    I'm not exactly sure of all the different scenarios and solutions involved in fracking. At the work face itself or ground zero if you speak Yank. I've had opportunity to find out, but, truth be told I'm wary of innovative measures and technologies, esp those that are strongly opposed by rationally presented evidence based research, or research based evidence.

    If the stock exchange has been approached does that imply intent to evaluate more carefully, intent to start raising capital for more extensive testing, intent to register and begin operations or none of the above?

    We have any finance whizards (avoid the term whizz kid) on board? I'm more technically inclined, machines and their bits don't backchat, don't ask why you're late, don't threaten to fire you. lol, Adrian was spot on. I do waffle.

    The £200 million startup budget, no mattet what they do or say, is wrong Budget on £300 mil and you're safe.

    I've yet to see new technology, esp in the sticks erecteted or commisioned without going over budget. Never seen it.

    I always double my estimate. To a point it works well. If it is overruled or you are blasted you could say; Remember I requested extra and was refused or overruled?

    Yes but your reason was vague.

    True, but righf now I can zell you ecactly. Then duck when he throws that left.

    The Minister of Minerals seemed cautiously optimistic at first glance. He wasn't promising anything anything, but I think he's already drawing up new budgets in his head.

    The Americans are out of the starting blocks in the mining of reserves in Texas and adjoining state/s. I'm sure I heard about the States a year, maybe more ago. Obama said it was huge, bigger than his ears even. Only now do I believe him. Almost. Have you seen the size of his ears?

    And nowadays if they say it's raining, I look out of the window. If I see rain, I then go outside to see if I get wet.

    If need be we can find out what the timeline in Texas looks like, from that we have a flimsy idea of what to expect in Oz.

    It's apples and pears when you factor in the outback. Local real estate is tied up, I'm sure.

    Any prospects of new settlements? Construction contractors and casual labour have needs such as hostels & other accomodation, hot running water, food and top of the list unless ali is watching is beer & booze.

    A bar with moveable chairs and decent glassware, no overalls, gumboots, spitting or swearing allowed, a bar where everything costs double, for the elite (nah, not those elite )

    The normal, imho, sequence of practical importance;
    food and water,
    shelter and bedding,
    laundry and bath/shower,
    transport and tobacco,
    social and entertainment.

    The person who gets a liquor licence and solar/gas powered fridges first, is batting on a good wicket. No matter the outcome of the project it remains a good wicket. Esp if your opening batsman doesn't drink.

    I don't have any capital of my own to invest. Guess that makes me the financial director? Ttti ttti, it was worth a try.

    How labour intensive is fracking? Anyone know?

    At a certain number of local population, not consisting of too high a percentage of transient/migrant workers, a mall becomes a gold mine.

    To be sustainable, families would need to settle in the area.
    The lady likes to shop. I think I'm beginning to understand the luck factor a bit better now. The applicability of the concept I should say.

    You put up a big steakhouse & the vegans arrive in their droves. That's bad luck.

    Your Uncle knows the guy that's married to the Chief buyer of bulk stores and you get a contract to supply stocks on a regular basis at your price. That's good luck, but geting caught selling at inflated prices and losing the contract, that's bad luck.

    Investing Rand in Oz is low risk compared to many other places, if the project is viable.

    The sooner you invest, the higher the risk, the bigger the return. I think so?

    I have no idea how luck is factored in. Sounds like gamble & luck are interchangeable.

    Investing beats funds in bank accounts in most cases. Funds in an On shore Banks usually depreciates. I suspect we'll all get the Turkey treatment at some time or another too. That's a risk and bad luck to boot.

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    Site Caretaker Dave A's Avatar
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    I think the point to take home right now is this is still a long way from a death blow to anything, and there's good reason why responsible media reporting isn't making too much of the discovery as yet.
    The trouble with opportunity is it normally comes dressed up as work.

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    Silver Member Trickzta's Avatar
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    Looks fishy if you consider the date on this google link,

    https://www.google.com/hostednews/af...73c6d6e2c6.161

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    Site Caretaker Dave A's Avatar
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    The other news pages indicate Jan 2013 as the post dates too.

    Which ultimately is why I'd be a little wary of reading too much into this - there's no sign of further news on progress in the year since.
    The trouble with opportunity is it normally comes dressed up as work.

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