Searcher2. Sadly, cash is essential. They could produce from some of those wells already drilled, but, that will also cost good money and will be pain for short term gain. I think they want to develop APT594 for that earlier cash flow. They have not given up on full development of APT855 and just producing from the current 6 wells would certainly be a much lower priority. They've got enough "evidence" to support a full development but require that Stage 2 to attract the cash for that development. That's why I say that the minister making that offer has absolutely NO idea what's involved and it's a disgrace that he holds that position, and to make things even more ridiculous, it's only for $26 million.
Not a coincidence that he is the Minister for Resources AND Northern Australia (his "target"??)
Geoscience Australia estimates that just one part of the NT – the Beetaloo Sub-basin – has gas resources of about 178,000 PJ – or 168 Tcf.
These are early days for exploration in the Beetaloo, but it looks likely that Origin Energy has discovered a world-class shale gas resource within this region, east of Daly Waters.
Origin estimates this field has 6.6 Tcf of contingent gas resources – comparable to major US shale gas fields.- Just for interest, Icon's current gas resource estimates within APT855, as determined by DeGolyer and MacNaughton, are now 28.5(P50) TCF of Unconventional Prospective Raw Natural Gas over the whole permit-ICN's target)
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