Linc told the market on Wednesday that two independent reports had put the unrisked prospective resources of the basin at 103 billion to 233 billion barrels of oil equivalent.

The low case came from DeGolyer and MacNaughton, while the 233Bboe estimate came from Gustavson Associates, with consensus in both reports that the Stuart Range formation and the underlying Boorthanna and pre-Permian formations were rich in oil and gas-prone kerogen.

The hope is that this will form the basis of a new liquids-rich shale play.

Since then, there have been numerous media reports saying this could be the start of Australia’s next big oil province, even if the numbers are on an unrisked prospective basis.

However, Eden Energy, which is better known for manufacturing fuel kits and its hythane fuel products, has two permits right next to Linc’s.

The buzz about Linc’s potential has driven Eden’s share price from an opening of 1.5c this morning to 3.5c at the close of trade, with over 54 million shares changing hands.