Trans-Orient Projects Oil Shale Acreage May Contain 1.7B Barrels
Trans-Orient Petroleum Ltd. has reported that it is sitting on 2.2 million acres -- 100% controlled -- of oil rich fractured shale in the East Coast Basin of New Zealand. Proven technologies currently in use in the U.S. fractured shale areas of the Barnett and Baaken fields will be used by Trans-Orient in their Waipawa and Whangai fractured shale fields.
The land operated by Trans-Orient is dotted with natural seeps, and beneath these millions of acres is a projected 1.7 billion barrels of oil held in massive Fractured Shale source rocks waiting for extraction.
Fractured shale made big news in the U.S. news when a huge deposit, The Bakken formation - part of the Williston Basin, extending north for hundreds of miles from Richland County, Montana straight into Canada - revealed reserve estimates as high as 503 billion barrels of oil according to a U.S. Energy Information Administration report.
Independent confirmation supports the resource potential of the fractured shale that is 100% held by Trans-Orient. The technology for extraction is proven and in-use in the U.S. and Canada. Moreover, the New Zealand government is providing incentives to the Company, and drilling will commence in September of 2008.
- TAG Oil Clinches Acquisition of Trans-Orient Petroleum (Dec 16)
- Trans-Orient Shareholders Check 'Yes' for TAG Oil's Acquisition (Dec 10)
- Trans-Orient Plans 2nd Stage of Boar Hill-1 (Dec 07)