by The Sleeping Giant » Fri Jan 25, 2013 8:28 am
by Jimmy_041 » Fri Jan 25, 2013 1:14 pm
The Sleeping Giant wrote:Plenty of jobs though.
by Sky Pilot » Fri Jan 25, 2013 1:25 pm
Jimmy_041 wrote:The Sleeping Giant wrote:Plenty of jobs though.
Labor will be on this like a seagull on a chip
And will spend the royalties before we even earn them
by Roxy the Rat Girl » Fri Jan 25, 2013 3:11 pm
The Sleeping Giant wrote:I'm sure it won't be for the right money.
The one good thing is it's in an area that is just plain awful, so it won't be difficult to return it to it's natural state.
by Jimmy_041 » Fri Jan 25, 2013 7:22 pm
$20 trillion claim incorrect: oil boss
Friday, 25 January 2013
Kevin Naughton
FEVERISH trade in prospective oil stock Linc Energy pushed its share price up another 14 per cent yesterday.
Newspaper headlines that proclaimed “Oil Strike” attracted the interest of retail investors, a broker told Indaily yesterday.
Linc shares reached an 18-month high of $2.85 yesterday (up 30 per cent) – double their price at the start of January and almost six times the price last August.
By Thursday afternoon the company was disassociating itself from The Advertiser’s claim that the “Oil Strike” had a potential value of $20 trillion.
Linc chief executive Peter Bond told Fairfax media:‘‘That’s not our valution. I don’t know who did that but someone’s got a calculator out and come up with that number … but we wouldn’t put a valuation on it at this stage. It’s too hard.
“Obviously if you want to stand up there and come up with $US100 times 100 billion barrels, you’ll come up with a big number. That’s not how you value oil resources anyway.”
Bond said Linc’s consultants estimated there was a minimum of 3.5 billion barrels of oil equivalent at Arckaringa.
“It’s a multi-billion barrel opportunity, and that’s a good news story. Ok it’s not $20 trillion. But 3, 4, 5 billion barrel resources are virtually unheard of these days, so even stressing this number down to the minimum number the experts stress it down to, it’s still a big story.”
Online investor forums, meanwhile, turned their attention to the reality of the Linc Energy prospects in the Arckaringa Basin in South Australia’s Far North.
The share surge (more than 33 million shares have been traded in the last week) comes with the release by Linc of two independent prospective resource reports on the possible extent of shale oil.
The reports make no assessment of the commercial viability of any estimated resource.
Investors on the shareholder forum hotcopper.com.au posted varying interpretations of the cost of recovering shale oil and the need for massive amounts of water to recover the oil via fracking.
While most were happy with the large increase in the value of their holdings, others warned that the reports were prospective and no actual deals had been done.
The reports themselves also carried the rider that there was a difference between potential and reality.
“There is no certainty that any portion of the resources will be discovered,” bothe reports said.
“If discovered there is no certainty that it will be commercially viable to produce any of the resources.”
Wilson HTM energy analyst John Young told the Australian Financial Review there were several stages to be run through before the resource could be termed as commercial.
“It’s reasonable to conclude that the potential resource that exists whether in the Arckarginga Basin or other places is massive; the reality though is that not all of that will be able to be economically extracted and there will be some uncertainty over the physical size of the resource.
“It all has to be validated by exploration, and then you’ve got to move into appraisal and say, even if we’ve found it can we get it out of the ground economically with current market conditions and current technology.”
Linc chief executive Peter Bond said the company was looking for expertise to move ahead.
“The best way for Linc Energy to do that is to bring in an industry expert with the knowhow and funding to drive this asset forward to production as promptly and as efficiently as possible,” Bond said in a statement.
by The Sleeping Giant » Fri Jan 25, 2013 7:44 pm
by dedja » Fri Jan 25, 2013 8:23 pm
dedja wrote:Good news if it eventuates but could the company in question be trying to inflate their share price with some positive media speculation?
... just saying
by Roxy the Rat Girl » Fri Jan 25, 2013 10:32 pm
by Jimmy_041 » Sat Jan 26, 2013 3:25 pm
by Jimmy_041 » Sat Jan 26, 2013 3:28 pm
by dedja » Sat Jan 26, 2013 3:44 pm
by Jimmy_041 » Sat Jan 26, 2013 4:09 pm
by DOC » Sun Jan 27, 2013 2:27 pm
by Jimmy_041 » Sun Jan 27, 2013 4:57 pm
DOC wrote:They hand out the awards? Since when?
by DOC » Tue Jan 29, 2013 7:25 pm
by Jimmy_041 » Tue Jan 29, 2013 11:14 pm
DOC wrote:Did they nominate her? Even so, a nomination is just that. Its not an award on its own.
I think awards such as these belong to the volunteers such as Marie Davis. Getting an award for your employment is quite a different matter. The judgement lies in how much people like Jane LS do above and beyond.
by dedja » Wed Jan 30, 2013 6:12 pm
by Roxy the Rat Girl » Thu Jan 31, 2013 7:56 am
dedja wrote:Redmond is a dead carcass swinging in the wind.
Her performance today regarding Health staffing was embarrassing.
by Jimmy_041 » Thu Jan 31, 2013 8:10 am
by dedja » Thu Jan 31, 2013 8:14 am
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