The Canadians have struck oil in New ZealandApparently Canadian company Trans-Orient Petroleum Ltd says it has found at least 12.6 billion barrels worth of black gold off NZ's East Coast.
Trans-Orient chief executive Garth Johnson said that the onshore East Coast Basin "is highly prospective for a fractured oil shale play".
Whoo Hoo!
Does this mean that New Zealand's economy will be boosted and our wages will go up ?
I hope so, given New Zealand's geographic location and the massive amount of Ocean around us that no other country tries to claim, I figure it can be a good bet that New Zealand may well find itself in a rich position one day. Maybe that day is coming?
Muzzerino
