Big oil prospect in New Zealand, says Canada firm Oct 26 2008 1:27PM Associated Press
WELLINGTON, New Zealand (AP) oil deposits in shale rock are nothing new in North Dakota, where the Bakken shale formation is seeing heavy activity. But it is new in New Zealand. Canadian oil explorer Trans-Orient Petroleum Ltd. says it's found shale rock with the potential to contain billions of barrels of oil on New Zealand's East Coast. Recent technology advances have made oil and gas extraction from fractured shale rock economically viable. Trans-Orient Petroleum CEO Garth Johnson notes that the technology is being used successfully in North Dakota. Trans-Orient says its exploration in New Zealand is in its early stages. The New Zealand Petroleum Exploration and Production Association says more drilling needs to be done before there's a firm estimate on how much oil can be recovered. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Bakken Shale Discussion" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/bakken-shale-discussion?hl=en -~----------~----~----~----~------~----~------~--~---
