Perhaps it is interesting that one government in Australia, the Northern Territory, some years ago, decided to remove a fracking ban and before too long an explorer (Tambouran TBN on ASX) found new onshore gas not too far from Darwin,the capital, which looks to match the best in the USA,the Bakken Shale,,but potentially thicker and more extensive. This will likely be a Tier 1 gas find, matching or exceeding the big North West Shelf conventional gas field (150 trillion cu ft) . American interests have immediately moved in with investment, equipment and expertise and the operation is now listed primarily on the NYSE. The first use of the gas in 2006 will be supplying the NT Government for 15 years, and a national pipeline business APC is drawing up a thirty inch cross continent connection to the gas markets of the eastern States. I saw notes earlier that the shale resources of the north of England and parts of southern Scotland cold match some of the huge fields in the North Urals in Russia themselves 120-150 trillion C/f each. A dozen of them. The areas of the fields are among the most backward jobless and poverty stricken areas of Britain, but were historically powerhouses of coal mining and heavy industry,replete with crumbling and rotting urban areas and crime. A new major gas industry could give the region a desperately needed boost of major proportions. One would think the locals would be sensible enough to recognise this. Its not complicated.
AJL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
