Yes, it makes sense for Shell to buy CRUX/NXS based on the Prelude reserves, but isnt the whole premise behind a FLNG plant to give Shell the flexability to move from one field to the next? So why are these reports focusing on this barge having to be moored in a one place for 25 years? and the need for CRUX to be viable? Seems to me Shell now has created competition from all the remote Reserves to want its LNG production capacity and every Junior in the basin will drop its price to do a deal with Shell. RememberKaroon Gas claim to have 15TCF in the area not to mention all the other smaller wells. Gas is essentially free, owning the plant and pipes make you money.
The Shell deal will never happen and RC knows it.
price target $0.59 wilson htm (30/05/2011), page-8
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