This is going to blow, this is going to rocket, 10 Bagger, multi Bagger, into orbit, strap in etc etc. How many times have we heard this when a share starts to rise hey! Let's get some solid news first or there is going to be a lot of new pi's left skint again.
This study offers a range of total in-place oil resource estimates for the various Jurassic shales of the Weald Basin of 2.2 – 4.4 – 8.6 billion bbl (0.29 – 0.59 – 1.14 billion tonnes) (P90 – P50 – P10). It should be emphasised that these ‘oil-in-place’ figures refer to an estimate for the entire volume of oil contained in the rock formation, not how much can be recovered. It is still too early to use a more refined methodology, like the USGS’s Technically Recoverable Resource “top-down” estimates, which require production data from wells. In time, the drilling and testing of new wells will give an understanding of achievable, sustained production rates. These, combined with other non-geological factors such as oil price, operating costs and the scale of development agreed by the local planning system, will allow estimates of the UK's producible shale oil reserves to be made.
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