fresh gas hit adds to kitty in poseidon area, page-65

I recommend for anyone to read up on the boom and bust cycles of the US and World Oil/Energy markets.

In a nutshell:

Oil/Energy source is found - sells at good value - other producers join in - BOOM - Market gets flooded - Prices crash - BUST - Consumers take advantage of cheap energy and convert all energy requirements to cheap source - demand catches up with supply - prices rise..... rinse and repeat.

Where in this cycle do you think shale gas in the US is right now????

Dry gas is called that because it has no condensate to sell.
Shale gas is more costly to extract (long term)

The current gas glut in US is based on non liquified supplys.
If they want to export they have to start what Australia and Qatar have been doing for the last 20 years.(Build Trains - which in itself will add a hefty chunk of capital cost to the supply prize)
Current model would see the landing prize at 12$ in Asia -
However when supply is squeezed by export the local Henry Hub prize will rise and will add to the 12$.