I have also read similar stories on the early hedging of shale...

I have also read similar stories on the early hedging of shale oil and debt accrued with those initial price assumptions, we will have to wait and see I suppose..

A question for you, if shale works over there as in proven production (shown by all time production highs), but it is uneconomic. Why would any tight gas/shale plays work in Australia where there is little infrastructure, VERY high CAPEX costs, non marine basins and currently no proven onshore unconventional (apart from CSG) that is economic?

If something does happen in the middle east and prices do go up, wont the American shale plays put back on top? Considering they have it all sitting there waiting?

Its all good to have high oil prices but you have to have oil... Again, I am not saying it cant happen but what plays/companies specifically have what you are talking about? There has been a lot of exploration, I'm not reading much about success...Believe me, I want success stories too....