Boss Energy (BOE)

Shares / Stock Code

BOE

Stock Exchange / Sharemarket

Australian Securities Exchange

Boss Energy (BOE) is an Australian-based minerals exploration company with a high quality oil shale project located in Northern Tasmania. The Latrobe oil project has a JORC indicated resource of 42 million tonnes of Tasmanite oil shale of which approximately 6 million tonnes is at less than 20 metres from surface and amenable to open cut mining methods.

An additional JORC compliant inferred resource of 30 million tonnes of Tasmanite oil shale is estimated. Tasmanite oil shale is unique to Tasmania and has advantages over other Australian oil shales in that it can be used as a source of bitumen as well as oil. The company was listed on Australian Stock market (ASX) on 5 July, 2007.

The company has an aggressive exploration program in place to increase the size, and upgrade the JORC category of the resource.

"In 2007, prices for crude oil have risen to levels that may make oil shale-based oil production commercially viable, major energy corporations and governments worldwide are pursuing the development of oil shale as an alternative to conventional oil."

The term oil shale refers to sedimentary rocks that contain solid bituminous materials (called kerogen) that is released as petroleum-like liquids when the rock is heated. When heated to high temperatures an oil-like substance and combustible gas can be extracted from the rock, which can be refined to produce clean petrol and diesel, electricity generation and be used as a raw material in the chemical and construction materials industries.

Total world resources of oil shale are conservatively estimated at 2.6 trillion barrels1. An oil shale demonstration plant in Queensland, Australia produced 700,000 barrels of oil between 2001 and 2003, and oil shale still remains a major energy source for Estonia (who account for 70% of world production) and the commodity is also being exploited in China, Brazil, Germany, Israel and Russia.

Australia's oil shale resource is estimated to be around 58 billion tonnes or 4,531 million tonnes of shale oil2 with significant deposits located in northern Queensland and Tasmania. This resource has the potential to significantly increase if research and development investigations into the processing of shale oil lead to the development of a commercial plant.

Tasmanite oil shale is unique to Tasmania and has advantages over other Australian oil shales in that it can be used as a source of bitumen as well as oil. The shale is also unique among world oil shales because its kerogen arises principally from its content of fossil oil spores.

Unlike other oil shales, oil from Tasmanite spores may be physically separated from the waste material. Tasmanite can therefore be beneficiated by relatively cheap physical processes such as froth flotation. In 2007, prices for crude oil have risen again to levels that may make oil shale-based oil production commercially viable, and both major energy corporations such as Shell and governments worldwide are interested in pursuing the development of oil shale as an alternative to conventional oil.

Boss Energy (BOE) Products and Services

  • Exploration and development of oil shale project in Tasmania

Boss Energy (BOE) Locations and Subsidiaries

Boss Energy Head Office
Suite 24, 18 Stirling Highway,
NEDLANDS, WA, AUSTRALIA, 6009
Phone: (08) 9389 6600
Fax: (08) 9389 6622

Boss Energy (BOE) Share Price

Submitted by ASX Listed Company on 22 May, 2010 - 03:43

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