Linc Energy Makes Oil Shale Discovery in Arckaringa Basin

Linc Energy has discovered a “significant” oil shale deposit within the Stuart Range Formation in South Australia

“We need to define this resource. We’ve got at least a year or two of detailed exploration and definition work,” said Craig Ricato, legal and corporate affairs director at Linc.

Linc has completed three oil and gas wells out of a planned 10-well drilling campaign in the basin.

The South Australian oil shale deposit is about 124 meters (407 feet) thick and was intersected at a depth of more than 854 meters, covering an area of 1.150 km2 (284,000 acres).

Linc reported that the most prospective black shale/siltstone within the deposit approximates 70 meters (229 feet) thick (between 899-970m deep) with preliminary analysis indicating oil yields of 25 litres to 45 litres per tonne.

“It is a remarkable prospect that we have only just begun to properly explore, Peter Bond the company’s chief executive officer, said in the statement.