Agoracom: Small Cap Investment - Falcon Oil and Gas Ltd. - SA petroleum agency’s Karoo shale-gas estimate ‘far lower’ - -

Falcon is a global energy company with projects in Hungary, Australia & South Africa

Developing large acreage positions of unconventional and conventional oil and gas resources

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JS490

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SA petroleum agency’s Karoo shale-gas estimate ‘far lower’ - - - bdlive

posted on Nov 03, 2014 02:31PM

I see that in today's press release, Falcon is conveniently using an older resource estimate for the Karoo Basin. There's actually a newer (and MUCH LOWER) estimate that came out in 2014 by, of all people, South Africa's own Petroleum Agency:

"SA petroleum agency’s Karoo shale-gas estimate ‘far lower’"

"THE Petroleum Agency South Africa (Pasa) estimates that recoverable reserves of shale gas in the Karoo are about 40-trillion cubic feet — much less than the US Energy Information Administration’s (EIA) estimate of 480-trillion cubic feet."

http://www.bdlive.co.za/business/energy/2014/02/21/sa-petroleum-agencys-karoo-shale-gas-estimate-far-lower