Australia to rival Saudi Arabia in oil reserves? — RT

An Australian company claims it has found an untapped shale oil field with estimated reserves that could potentially put the country next to remarkably oil-rich Saudi Arabia. Still, extracting the discovered treasure poses a huge technical challenge.
Brisbane-based company Linc Energy has presented two estimates by respected independent consultants claiming that drilling and seismic exploration they do in South Australia has brought the prize they have been dreaming of for years – a potentially huge untapped shale oil deposit.
DeGolyer and MacNaughton petroleum industry consulting firm evaluated potential shale oil reserves at Arckaringa Basin around the town of Coober Pedy at 103 billion barrels of oil equivalent (BOE), while Gustavson Associates consulting firm put it as high as 233 billion BOE. That is practically comparable to the proven 263 billion barrel reserves of oil heavyweight Saudi Arabia.
Australia to rival Saudi Arabia in oil reserves? — RT