Ann: Wilcox drilling campaign commenses - Heintsc, page-7

re: Ann: BUR: Wilcox drilling campaign commen... from what i could find, BG paid nearly $1bill for PES, based on its certified resources which were in the order of 400BCFe (1P)

and that was at the height of the GFC.

BG obviously knew what they were doing, as demonstrated by their recent $50bill dollar gas deal with CNOOC and their 20year deal with Tokyo Gas.

unconventional gas is the ticket.

all NSE really need to do is drill a few appraisal wells in the Kidson and prove that there is commercially viable shale gas there. even at the bottom end (10BCF/km2) this would still mean that if even 100 of their 37,000km2 of acreage is viable, then we have hit the jackpot bigtime.


that would still leave 99% of their acreage available to slice up and sell off as lottery tickets to the next wave of up an coming energy juniors.


unless the tide turns on natural gas, this is now basically a win win situation for holders.