Big Oil Discovery: 23 Billion Barrels of Shale Oil in Newfoundland?

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posted on Sep, 10 2012 @ 03:34 PM
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If this discovery lives up to early estimates, Newfoundland might be on the verge of becoming as well known as Alberta in the oil business.

23 billion barrels of oil is larger than the estimated reserves of the United States, which comes in at between 22 and 23 billion barrels.

ca.finance.yahoo.com...


But Shoal Point Energy Ltd. (CNSX:SHP) hasn't quite figured out how to economically draw the crude — some 23 billion barrels of it in place, according to one estimate — from the uneven, broken-up rock.

"It's a bit of a wild frontier still," said George Langdon, the company's Newfoundland-raised CEO, who has long been fascinated by rocks on the Rock.

"There's a lot of oil in place. We haven't proven the viability of it yet. But just the sheer number of what could be in place there makes it, to me, one of the significant resources in North America, right up there with the big ones"




posted on Sep, 10 2012 @ 03:37 PM
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Well what arte we waiting for
LETS GET FRACKING!



posted on Sep, 10 2012 @ 03:42 PM
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well processing shell isn't too environmentally friendly.

you need a ton of water, and the EROEI is about half what conventional oil is.

it'll accelerate our destruction of the planet, but help keep civilization afloat for a while yet.

thinking we should be after that h3 on the moon before messing with this stuff...



posted on Sep, 10 2012 @ 03:44 PM
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Who are they going to get to work? They are all in the Oil Sands out West.



posted on Sep, 10 2012 @ 03:47 PM
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Who cares about the planet, or even human health, so long as the rich can all bathe in glorious oil, leave the lights on all day and night, and not have to pay a dime.

The best thing that could possibly happen to the human race is to run out of oil. The worst thing that could possibly happen to all other life, and humans generally (but not the rich) on Earth is if we don't.
edit on 10-9-2012 by AndyMayhew because: (no reason given)



posted on Sep, 10 2012 @ 03:49 PM
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Great if something goes wrong, similar to the bp incident, we are going to ruin the coast lines up here to



posted on Sep, 10 2012 @ 03:57 PM
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Newfoundland should separate from Canada, lmao. That'll teach them, lol.



posted on Sep, 10 2012 @ 04:02 PM
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I would love to go work there. Currently in Montana getting my hands on all those oil money. I relocated from south FL, so moving to Newfoundland would bring an even bigger perdium. Let's see what there next move will be....
edit on 10-9-2012 by Kaworu because: correction



posted on Sep, 10 2012 @ 04:05 PM
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Are we going to invade Newfoundland?




posted on Sep, 10 2012 @ 05:56 PM
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reply to post by BABYBULL24
 

It takes two Afghanis to equal one Newfoundlander. Just sayin'.



posted on Oct, 1 2012 @ 04:26 PM
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reply to post by MDDoxs
 


Yeah, no. We've got a much, much better safety record on oil production than the US. Only time a production rig failed in Newfoundland was in '82, when a rogue wave sank the Ocean Ranger. No spill there, either. We've got the world's largest drilling platform (the Hibernia) operating since 1997 without a single incident. She's iceberg-proof, and stands in some of the stormiest seas on the planet. Then there's the SeaRose, a drillship that's been running without problems since 2005. We know what we're doing.

Edit to add: the biggest spill we've ever had was from the Terra Nova FPSO, she lost 165,000 liters of crude as a result of a mechanical failure in 2004. Deepwater Horizon spewed more than that every day before being sealed.
edit on 1-10-2012 by ShadeWolf because: (no reason given)



posted on Oct, 1 2012 @ 09:40 PM
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Global strategy for space powers is to burn all the oil and natty gas for space dominance and after that is done guess who?


Yes USA has the nuts and the bolts to say guess who



posted on Oct, 23 2012 @ 05:00 PM
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check out www.gasfrac.com

the solution to all of the fracking issues



posted on Oct, 23 2012 @ 05:13 PM
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Originally posted by stirling
Well what arte we waiting for
LETS GET FRACKING!


so that your computer works



posted on Oct, 23 2012 @ 05:13 PM
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Originally posted by MDDoxs
Great if something goes wrong, similar to the bp incident, we are going to ruin the coast lines up here to


so that your car runs



posted on Oct, 23 2012 @ 05:18 PM
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now ppl dont get me wrong...

everything related to oil disgust me too..

the money related..damage to our planet...etc etc


but seriously...living on this planet without any instructions isnt easy...survival is the primary rule on planet earth..what we must is put pressure on the TPTB to let humanity get the free and clean energy it deserves to go to the next step of evolution.

but until we get there...please..keep finding our oil or we die



posted on Dec, 29 2012 @ 10:42 PM
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The native can live without oil..So why cant we ? But now there are technology called "free energy"..The energy from the fabric space of the Universe which is limitless and WAY better than OIL..
edit on 29-12-2012 by GregJ because: (no reason given)





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