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**Asher** · May 10, 2012, 16:48

Originally posted by Oncle Boris View Post

Oerdin Asher & Co you are quoting from older sources.

I found articles in reputable sources from March 2012 saying 2 billion at most.

Where did you get your numbers? I can't find them anywhere.

**Asher** · May 10, 2012, 16:51

Old Harry whips gulf into a tempest

http://business.financialpost.com/2012/02/16/old-harry-whips-gulf-into-a-tempest/?__lsa=de487012

Rarely has a stretch of seabed caused as much controversy as Old Harry

Old Harry whips gulf into a tempest

Nicolas Van Praet Feb 16, 2012 – 4:52 PM ET | Last Updated: Mar 30, 2012 2:21 PM ET

Rarely has a stretch of seabed caused as much controversy as Old Harry.

The 30 km-long site in the Gulf of St. Lawrence is perhaps the biggest untapped offshore oil-and-gas play in Eastern Canada, harnessing estimated resources of 2 billion barrels of oil and as much as 7 trillion cubic feet of natural gas. It is also the epicentre of a monster battle for the future of the fish-rich waterway.

**Fake Boris** · May 10, 2012, 17:00

Just a newspaper article in French, quoting representatives from the company itself.

Pétrole - Gisement de classe mondiale à Anticosti

http://www.ledevoir.com/environnement/actualites-sur-l-environnement/338426/petrole-gisement-de-classe-mondiale-a-anticosti

Non seulement l'île d'Anticosti pourrait bien renfermer des dizaines de milliards de barils de pétrole, mais il semble aussi que le sous-sol de la plus grande île de la province se classerait parmi les gisements de classe mondiale. C'est du moins ce qu'a expliqué au Devoir le président de l'entreprise Pétrolia. Et si cet or noir est un jour exploité, les pétrolières devront probablement recourir à la fracturation hydraulique, une méthode qui n'a jamais été utilisée au Québec.

Your link is about Old Harry, which has been known for quite a while.

Mine is about new discoveries under Anticosti Island.

**Fake Boris** · May 10, 2012, 17:08

My favorite part of googling for articles about Quebec in English is always the reader's comments.

Here's another gem to keep in my collection:

deport them all to france. they have the attitude to fit right in there

**Dinner** · May 10, 2012, 17:11

Originally posted by Oncle Boris View Post

Oerdin Asher & Co you are quoting from older sources.

The 30-40b barrels announcement is from December 2011; it mentioned that they found a more porous extraction point. I understand it could be bollocks, but at least, the company is not publicly traded, which does somewhat limit suspicions.

Apparently they found conventional reserves too, not gigantic, but commercially viable.

Do you have a link I could read, please? That way we can get to the bottom of exactly what we are talking about.

**Fake Boris** · May 10, 2012, 17:22

Here's something that mentions Junex:

Energy Magazine | Energy Magazine

http://www.energydigital.com/press_releases/oil-and-gas/junex-selects-dd-securities-inc-as-market-maker

Energy Magazine connects the leading energy executives of the world's largest brands. Our platform serves as a digital hub for connecting industry leaders, covering a wide range of services including media and advertising, events, research reports, demand generation, information, and data services. With our comprehensive approach, we strive to provide timely and valuable insights into best practices, fostering innovation and collaboration within the energy community. Join us today to shape the future for generations to come.

Why are you so insistent, are you looking for equity investments?

**Dinner** · May 10, 2012, 17:23

Originally posted by Oncle Boris View Post

Just a newspaper article in French, quoting representatives from the company itself.

Pétrole - Gisement de classe mondiale à Anticosti

http://www.ledevoir.com/environnement/actualites-sur-l-environnement/338426/petrole-gisement-de-classe-mondiale-a-anticosti

Non seulement l'île d'Anticosti pourrait bien renfermer des dizaines de milliards de barils de pétrole, mais il semble aussi que le sous-sol de la plus grande île de la province se classerait parmi les gisements de classe mondiale. C'est du moins ce qu'a expliqué au Devoir le président de l'entreprise Pétrolia. Et si cet or noir est un jour exploité, les pétrolières devront probablement recourir à la fracturation hydraulique, une méthode qui n'a jamais été utilisée au Québec.

Your link is about Old Harry, which has been known for quite a while.

Mine is about new discoveries under Anticosti Island.

I just used google translate on that page and it seems to be saying the 30-40 billion figure is the total amount of oil in the formation which would mean if they got the same recovery rate as the Monterrey shale (350 billion total with ~2.5 billion recoverable) you'd get ~285 million barrels conventional; with fracking maybe an order of magnitude more or about 2.8 billion on the upper limit. Not bad but a pretty darn small discovery. Still better than nothing though.

**Fake Boris** · May 10, 2012, 17:26

Could you please read the other link in #51 and tell us what you think about it?

**Dinner** · May 10, 2012, 17:38

Originally posted by Oncle Boris View Post

Could you please read the other link in #51 and tell us what you think about it?

There seemed to be a lot of fluff in that press release but I did notice this bit:

The company is in the heart of the Utica Shale gas discovery located in the St. Lawrence Lowlands and holds a significant land-package on the Anticosti Island where an independent report has provided their Best Estimate of the undiscovered shale oil initially-in-place ("OIIP") volume for the Macasty Shale on all five of Junex's permits on Anticosti Island at 12.2 billion barrels.

The 12.2 billion figure is initial oil in place or the total amount of hydrocarbons in the Utica shale deposit found in Quebec. That means the recoverable amount will be some tiny fraction of 12.2 billion (as I previously noticed the monterey shale has OIIP of ~350 billion with a conventional recovery amount of ~ 2.5 billion so we're talking a fraction of a fraction here). The Utica shale is also very deep located underneath the Marcelus shale (which is the big formation people are fracking in places like New York, Ohio, Pennsylvania, Virginia, etc...).

I expect recoverable gas deposits will be much, much higher than recoverable oil deposits as gas is a much smaller molecule than oil. Lately there has been a boom in Marcelus shale gas fracking in the Northeastern part of the US which has greatly expanded gas production but even with fracking oil extraction from the formation has been lack luster. The Utica lays below the Marcelus so it will be compacted even tighter with even less porosity & permeability in the formation. This will not be easy hydrocarbons to get.

**Dinner** · May 10, 2012, 17:38

Utica Shale - The Natural Gas Giant Below the Marcellus?

http://geology.com/articles/utica-shale/

The Utica Shale might host the world's largest single accumulation of natural gas confined to a single rock unit.

Geology.cm has a good article on the Utica shale.

**regexcellent** · May 10, 2012, 17:42

So the basic upshot of this is that while Alberta is swimming in oil, Quebec is not.

**Fake Boris** · May 10, 2012, 17:43

Thanks.

I must admit I had assumed the quoted figures to be recoverable amounts.

**Fake Boris** · May 10, 2012, 17:43

Originally posted by regexcellent View Post

So the basic upshot of this is that while Alberta is swimming in oil, Quebec is not.

Remember that "billions" is actually 1.4.

**Dinner** · May 10, 2012, 18:10

marketwatch.com

http://www.marketwatch.com/story/junex-announces-exploration-operations-on-its-macasty-shale-oil-play-on-anticosti-island-2012-04-25-1217470

A better article on the Macasty Shale.

**Fake Boris** · May 10, 2012, 18:28

So there's still hope that there's nothing there? Don't poison Anticosti's aquifers.

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Let's resume our discussion about Harper and the oil lobby

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