So France [1] and Australia [2] might end up becoming the new Saudi Arabias. IF these pan out (and that's a big if) then:
* What does this mean for Peak Oil? * What does this mean for geopolitics? * What does this mean for climate change? (i.e., what will we do with the fricking carbon?) Udhay [1] http://www.resourceinvestor.com/News/2010/9/Pages/Investing-in-the-Paris-Basin-Shale-Oil-Play.aspx <q> The Paris Basin shale oil play in France has the potential to be 10 times the size of the Bakken play in North America, and some high profile exploration is beginning soon. Estimates range from just a few to many tens of billions of barrels of oil in the Paris Basin. Much like the North American shale plays, these formations have been drilled through many times – there are over 1,000 wells drilled into the Basin – so exploration risk is low. It’s completion risk – how to best unlock the oil from the rock – that is the main risk. </q> [2] http://www.businesswire.com/news/home/20110103005207/en/Look-A-Like-Bakken-Shale-Play-Identified-Australia-sides <q> Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) is pleased to announce that the operator of EP 128,127,104, & 103 (Baraka Petroleum Limited) has stated that they are gearing up for an initial four-well drilling program in the Georgina Basin. Recent news west of ATP-582 EP 128, EP 127, EP 104, & EP 103 are located in the Georgina Basin at the border of Northern Territory & Queensland. EP 104 adjoins ATP-582, in which ACOR holds a 50% working interest. Drilling is expected to begin in February and will include two horizontal wells on EP 127 & 128 and two vertical wells on EP 104 & 103. The operator states possible estimated resources on EP 128, EP 127, EP 104, & EP 103 in excess of One Billion Barrels of oil. </q> -- ((Udhay Shankar N)) ((udhay @ pobox.com)) ((www.digeratus.com))
