Genie Energy to expand oil shale exploration in Mongolia

September 17 01:08 2014 Print This Article

  • Genie Energy (GNE -0.4%) adds to its oil shale exploration acreage in Mongolia after agreeing to a deal to explore a 25K sq. km track in the center of the country.
  • The deal means GNE now has exclusive rights to explore for oil shale over ~60K sq. km of Mongolian territory.
  • GNE believes the license area “may contain world class deposits of thick and rich oil shale well-suited for our in-situ extraction technology.”
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