Eni stated that their exploration in Oceania focuses on conventional oil/gas.
Not shale or coal seam......
About 18mths ago there was a lot of talk about Peak Oil and that easy oil/gas was running out.....bpt and others were going down the path finding this harder to develop oil/gas...using new faccing technology from the USA.
Some of these companies share prices have hit the $1 mark
The conventional oil/gas companies have all decreased significantly..ie ndo..cue...meo....etc...
There was talk that this shale & coal seam stuff is going to make off shore drilling uneconomic..due to the decreasing price of oil and gas due to the volumes of shale/coal seam oil/ gas found..
Today..there is growing resistance all around the world to develop the shale or coal seam oil/gas due to contamination of ground water due to chemicals used in fraccing. This resistance is increasing daily.
The market currently does not factor in this new development.
So do we eventually come back to talk of peak oil and conventional oil/gas companies start becoming popular again..? Yes. Perhaps by second half of year.
Second half drills in the areas north and east of nt/p68 which hold Heron and Blackwood have a high chance of flowing due to previous drills flowing around the 20mcf and 30mcf mark...ie ES flowed 25.5mmscf/d ..barossa flowed 30.1mmcf/d .....caldita flowed 33mmscf/ d..
Eni seems to want to see the above drills results come in before.. drilling Blackwood and committing to drill heron again...all around the December 2013 timeframe.
From the above drills around half a billion dollars are going to be spent around nt/p68 soon. Then billions to get the gas and turn it into LNG.
Either at Darwin or most probably in my opinion tsmp.
Yet Meo is only worth 6.7 cents per share.at the moment...By December I expect that the price will be closer to $1per share.
Patience is very difficult but in this specific case well worth it. Me thinks...
- Forums
- ASX - By Stock
- MEO
- and the tassie shoal strategic partner is....
and the tassie shoal strategic partner is...., page-10
-
- There are more pages in this discussion • 13 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)