This Project is Pioneering stuff for us and all eyes are on this here, recently we have had Linc Energy,Central Petroleum,Buru Energy(today),Armour Energy and Hess/Falcon all announce enourmous Prospects of conventional and unconventional Gas-Condensate-Oil.
There was a meeting in Darwin last year about this, everyone was there Statoil,Santos,Beach energy,Senex energy,Conoco Philips etc and they would have discussed everything from Pipeline infrustructure, Exploration Rigs to unconventional targets Fraccing needs.
There was a report recently in the Financial Review news paper that stated our local oil/gas companies are wide open to takeover bids from the majors.
Steel12 this Stock is solid because the Geology is solid but i doubt whether it and Baraka can survive a takeover bid for long once they get to a point of 2P reserves (Proven and Probable) and that every well they drill will increase the 2P reserves and many will be Multi-lateral wells we will get made an offer we can't refuse.
Hoot Hoot this is the last state of affairs it's 2011 but i don't think much has changed and we are short of everyone with skill and the constant floods of boat people aren't much use to us.
MORGAN STANLEY AUSTRALIAN SHALE GAS REPORT JUNE 2011
A good frac needs shear horse power, and some single
frac jobs in the US require 40 trucks hooked up delivering
50,000 hp. About 85% of all fracturing ‘spreads’ are in the US.
(A spread is the equivalent of four frac units of a certain size,
plus blending and ancillary equipment). In North America
there are about 870 spreads (i.e. about 3500 trucks). In
Australia the number of ‘spreads’ is five, and operators which
are active at the moment are having to share the limited
number of trucks, as well as the costs of moving these trucks
all over the country, from the Cooper Basin, to the Perth Basin,
to the Georgina Basin, etc.
More high-specification drilling rigs will be needed. In the
US there are over 950 land rigs operating. In Australia there
are a handful spread across the country and they are not
easily mobilized between regions. In WA, there is one rig
being shared among operators. Into the future, the rig specs
will go up too as some regions that target shales are +/-4000m,
and then future development is likely to dictate extended