Breitling Oil and Gas Morning Podcast #212 12-18-12

Against the wishes of many residents in the Karoo Basin, South Africa has entered the shale gas game.   Falcon Oil & Gas has agreed to work exclusively with a South African affiliate of Chevron  to seek unconventional exploration opportunities in the basin in South Africa.

Falcon has a technical cooperation permit that gives the independent exclusive rights to obtain an exploration permit on 7.5 million acres in the southern part of the basin

I have been to South Africay many times doing consulting work down there.  The Karoo basin covers 236,000 sq miles or nearly two-thirds of the country.  The Karoo has great looking rock and I would estimate 70,000 sq miles of the southern part of the basin looks really favorable for shale gas extraction.

With South Africa’s dependence on coal, having these Natural gas resources could not come at a better time.

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