“So how could a basin with potentially more oil than Kuwait have escaped the attention of explorers to date, especially in a country as stable and exploration friendly as Australia?

According to Bruner, speaking in an Australian television interview earlier this year, the reason is because the geology was misunderstood, and the Beetaloo was believed to be a sag basin when it fact it is a rift basin. Bruner added that while reserves are not proven, the resource is known to be there.”