Hi ColbenRemember this discussion we had 12 months ago.Hope rosy...

Hi Colben

Remember this discussion we had 12 months ago.

Hope rosy days are around the corner.
BOE are on the march!!



Hi Researcher, yeah, White is 78, Rivkin (sen) died > decade back.
But 5 points to give White credit for :- White has
(1) held it together whilst the price / technology / supply of oil didn't warrant shale oil extn (the Rundle Twins jumped before time & went under)
(2) has increased GRV/ESM stake in Lownmead & Nagoorin to a controlling 75%: & 100% of Alpha which he drilled in 1982
(3) has been pretty quick to get GRV/ESM signed onto the new technologies for the treatment of shale oil
(4) kept Director's fees / Company costs low
(5) kept the GRV / ESM / ECM (/ Minga) share structure tight / interlocked to keep out predators

I think Blue Ensign Tech / Rendall Process is the way forward for recovery of oil from oil shale. Blue Ensign has the "eye" of Rundle & is front runner to go Pilot Scale, though Rundle shales aren't as rich as Alpha & contain heavy metals (which White's deposits I believe don't)

Extract Plc has less desirable ground surrounding Blue Ensign & Extract has CSIRO trying to beat up a super critical solvent extn route - presumably one that gets around the Blueensigntech patents. I believe Burns (runs Extract) would rather own GRV / ESM leases, but "that was not to be". Burns is a "can do" sort of guy. See who gets somewhere first.

But for me, the richest (& largest & cleanest) deposits are the best ones to have & GRV / ESM /ECM have them.

It's not too far away when Australia will be importing 50% of it's oil & with the Chinese fast locking up Australias overseas sources of sweet crude, Australia is going to need new sources soon. (Aus exports heavy crude because we don't have the refineries to treat heavies)
[ Aus will soon have (more) excess capacity to treat "sweet crude", which isn't there to buy ]

So, roll on shortages - bring on extraction of oil from oil shale - have a "major" see 8 Bn barrels in GRV / ESM as shale oil comes to the fore !!