gpps shale gas project ep 447 north perth

GPPs shale gas JV with UIL sitting right on top of both pipelines.
What value do you place on this GPP asset?

There have been some excellent flow rates from the Waylering feild in the past and it's in an ideal location for production. They got 12MMCFPD from one drill in 70s.

It is my understanding the JV partnership are targetting prospects in the upper 2/3rd's of the tenement this time with this seismic program. The "Charbon" prospects look quite large and look the targets.


The DMP in WA rate the North Perth Basin...let's hope we can repeat the success of EGO nearby. Info here...

http://www.dmp.wa.gov.au/12872.aspx

What is WA’s potential for shale, tight and coal seam gas?
Western Australia has a high prospectivity for shale and tight gas, which are very different resources to coal seam gas being targeted in Queensland. The main difference is that shale and tight gas resources are found at significantly greater depths of beyond 2000 metres than coal seam gas, which is generally found between 600-1000 metres.

It is believed that shale gas resources are spread across the Perth, Carnarvon and Canning basins. DMP estimates that known Perth Basin tight gas fields hold between nine and twelve trillion cubic feet of recoverable gas located in the vicinity of existing pipelines, which would be used to transport the gas. It is generally assumed that one trillion cubic feet of gas can provide enough energy to power a city of one million people for a period of 20 years.

An assessment of world shale gas resources by the United States Energy Information Agency has estimated that Western Australia is holding the world's fifth-largest reserves of shale gas at 288 trillion cubic feet. This is approximately twice the gas that is held in Western Australia’s offshore areas.

Development of shale, tight and coal seam gas has resulted from technological developments, mostly originating in North America, over the past 30 years. Key technologies include very accurate horizontal drilling and hydraulic stimulation.