northern territory fracking moratorium, page-11

Yes indeed, I was about to post the same story.
http://www.theage.com.au/business/unconventional-gas-boost-as-wa-clears-way-for-fracking-20120318-1vdsv.html

Another issue is quite important for shale oil/gas ventures that may make the appear more attractive to major investors, and more profitable with a rise in the price of oil, and that is of energy security and Middle Eastern troubles.

INPEX recently decided to go ahead with a $20-$30bn gas project in the NT (piped from Browse) for the purpose of securing long term energy supply.

The are big problems in the middle east and particularly now between Israel and Iran where Israel govt recently voted to attack Iran, and is pressuring the US to come to the party in some way. (and there is already a large US fleet build up in the straight of Hormuz), and the recent revelation from a Russian politician that Russia informed Iran on behalf of the US to play ball immediately or they Will be invaded.

Israel seems determined to attack Iran it seems because of its potential to develop nuclear weapons, or that is the story. The reality who knows now days.

If things do get out of control there the price of oil should surge and the issue of energy security come to the for and be one on national importance for most governments.

All the stars are positive for Baraka, apart from domestic regulatory risk as mentioned before. But it may takes some time to work itself out. Hopefully their first well produces something.

I would think that Baraka is probably a small buy, for those not averse to taking some risk with a little bit of capital. Would be a time to buy any dip.