Shale oil future in Colorado and Israel for Genie Energy (NYSE)?
Posted in the Oil & Gas Forum
#1 Mar 18, 2013
The 2 subsidaries in Genie Energy with investors like Murdoch, Steinhardt and Lord Jacop Rotschild
The pilot project for AMSO is up and running in Colorado since beginning of March, will last for 6 months before evaluation
French Total pays for the whole oil pilot shale project and AMSO provides the expertise for it. Commerssial producion in large
scale is many years ahead though.
In Israel IEI awaits the final permission to start the pilot project will probably start in a few months from now.
In the concession there are one of the 2 best oil shale concessions in the world and they have choosen the best location in
Israel. In that concession there are as mention potential for about 40 billion barrels of shale oil.
The main problem with oil shale projects is the groundwater that goes in diffrent layers in the oil shale, this problem
doesnt exist in their concession in Israel that is very common in most oil shale areas like in Colorado USA.
They estimate the production cost per barrel will be about 35-40 dollars at commerciell production.
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