Taken from a post on the TXO board. Here's qui

Taken from a post on the TXO board.

Here's quick summary of Boss Resources Tasmiania

Tasmanian Oil Shale Project (BOE 100%)

Boss Resources Tasmanite oil shale project is located between Latrobe and Railton, 10 kilometres south-west of the port of Devonport in Northern Tasmania with excellent access to existing infrastructure (port and roads).

The Latrobe oil project has the potential to host 72 million tonnes of oil shale equating to 50 million barrels of oil. Approximately 6 million tonnes of the oil shale is less than 20 metres deep and amenable to open cut mining methods.

The Tasmanite oil shale horizon within EL 20/2004 has already produced 1.13 million litres of oil from historical underground mining operations. Historical drilling campaigns have demonstrated a continuity of the deposit over a large area.

Initial drilling program completed

In 2007 Boss completed an initial drilling program designed to improve tonnage estimates in the China Bush Plantation area, also known as China Flats, near the Great Bend of the Mersey River. Fourteen RC drill holes and two diamond drill holes were drilled for a total of 340m. Thirteen of the fourteen RC holes , and both diamond holes successfully intersected the Tasmanite oil shale at depths ranging from one to twenty three meters below surface.

As part of the exploration program, Boss plans to extract and test a bulk sample of approximately 20 to 50 tonnes in the nature of a scoping study to determine recovery rates of oil.

Exploration success - Feasibility study

Dependent on the success of its exploration the company will investigate the merits of a feasibility study to develop the Project towards mining of oil shale and extraction of oil.

The economic development of oil product from the oil shale requires two stages of mining and extraction. Firstly, the oil shale must be mined by conventional mining methods whether by open-cut or underground mining. Secondly, the oil needs to be extracted from the oil shale. Any shale oil extracted is likely to be able to be hydrotreated to yield a petroleum equivalent.

Processing test work

Processing test work on a 500kg ore sample shipped to the Fushun Mining Group oil shale refinery in China was positive returning a 9.5% crude oil content and very similar chemical and physical properties to Fushun's oil shale. Processing agreement discussions with Fushun are underway.