Odds of Rodinia Being Successful?I have been told by someone who supposedely is an expert in the oil patch in Australia, and who I think has experience in the Cooper Basin, that the Officer Basin contains cambro-ordovician section in which residual oil shows have been found in several shallow wells drilled over the past 40 years. The problem I am told is that the region has been uplifted and eroded several times over the last 400 million years and hence there is a very low chance of any significant oil accumulation being preserved.
It is the view point of this individual that this is just a stock market play which has really been pushed in the U.S. and Canada and is not considered a big deal in Australia.
This individual gives Rodinia a 1% chance of success, stating that it is more likely than finding oil on the moon.
Would anyone care to comment on this opinion? Is Rodinia just a scam and is this what its current share price is reflecting?