Australian Farmer Identifies Rich Oil Deposit
A farmer at Mooney on the western downs has identified oil deposits described as richer than crude oil currently imported by Australia. A oil deposit has been identified in Mooney, Queensland, utilizing the Mooney to Brisbane Pipeline built in 1964. The discovery has caused volatility on stock exchanges due to the potential scale of the resource. Former field superintendent Lester Carlson, who worked the fields for 18 years, noted the area's potential. The site is being compared in scale to the oil fields of Texas. Field superintendent Lester Carlson reported discovering oil in a cleared scrub area in Queensland. Historical production at the site reached approximately 1,600 barrels per day using gas lift wells. Increased water pressure from water drive mechanisms previously caused production to decline. Extraction now requires pumping large volumes of water to recover the oil.
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Sources · 7 independent
“The oil found here at Mooney is richer than the crude oil we now import from overseas. If there's enough of it here, it could save Australia 130 million pounds a year.”
“using the Mooney to Brisbane Pipeline, which was built in 1964, output. is oil. And just how much? Nobody really knows. But what's been happening here in recent weeks has caused pandemonium on the stock exchanges.”
“He said it's is oil. And just how much? Nobody really knows. But what's been happening here in recent weeks has caused pandemonium on the stock exchanges.”
“When I started there it was doing about 1600 barrels a day and that was on gas lift. Then it started the water drive there was very strong.”
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