Genie Energy to develop oil shale resources in Mongolia - Energy Business Review: "Genie Oil Shale Mongolia, a subsidiary of Genie Energy, has signed a five year agreement with the Petroleum Authority of Mongolia (PAM) to explore and evaluate the commercial potential of oil shale resources, on a 34,470 km2 area in Central Mongolia.
As part of the deal, Genie Mongolia will also identify and characterise the oil shale resource in the exclusive survey area and will conduct a pilot test by using in-situ technology on appropriate oil shale deposits.
The company will proceed with commercial development on oil shale resources, under a production sharing agreement in line with the Mongolian law."
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