BPH (ASX) Ann: PEP 11 Drilling Clarification

Originally posted by Asmosmooth: ↑

So, I haven't really chimed in for a while. But here is my 2 cents if anyone is interested.

NOPTA is and has always been a formality, They have a list of things that need to be done before they can approve the permit and once those things are done the permit moves on to the joint authority for final approval (John Barilaro and Keith Pitt) This is where it is now.

Now when it comes to opposing renewal of the PEP-11 permit, I find it incredibly unlikely to be shutdown. The current green push we are experiencing (And as a "greenie" myself) is good but it would be impossible to rollout the infrastructure required to fulfill all the things coal and gas are currently required for. I find it likely that coal is on its way out but with current interest in CCS (Carbon Capture and Storage) from many of the largest companies out there including Exxon's $3 billion dollar pledge for development and Elon's $100 million dollar bounty that they believe gas has a place in the future and I don't find it likely that they would willingly look at the risks and throw billions of dollars down the drain.

John Barilaro has hand balled this off, citing "We can't support PEP-11, It is in commonwealth waters so it's actually out of our control." So naturally it will fall to Keith Pitt, He said "We will maintain a regulatory provision which is consistent, My decision will be based on advice and the facts." Now simply looking at that I would say that John Barilaro, who is under a fair bit of scrutiny from many of his dealings is trying to dodge the bullet on this and that Keith is more then glad to take it.

Now all of this is my own thoughts and yadda yadda yadda should NOT be taken as advice of any kind much like any of my other posts but I believe that this will fly though with no issue, It's completely ridiculous to not use such a perfectly located supply of a much needed resource especially when we are shifting out from coal and still need to feed our ever increasing need of electricity which will only become way larger (and potentially a problem) as we transition to electric vehicles and all decide to plug in at 1730 after work (Considering that home batteries are still a ways of of being economically viable for 99% of the population)

The government is still also pushing for a gas-led recovery with members from both sides of the fence supporting it, I would like to see the opposition actually propose solutions as apposed to just trying to squash this as if they believe a gas-led recovery is bad for the Australian economy I would like them to show me the funds, plans and private interest on establishing mega batteries and renewable energy solutions like large solar arrays or even larger stimulus's to incentivize private ownership of home batteries and solar panels for every home. And then likewise deal with the fallout of the collapse of the coal,oil and gas industries (Which without the demand would make it a nonviable way to produce profits).

Thanks for coming to my TED talk, don't leave yet. Buckle in because this train is departing shortly.

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Also, and again. My opinion, but if I was to hazard a guess I would say most of the people that oppose PEP-11 are property owners that have been scared into thinking they will lose land value on a drill rig that won't likely be visible from shore.

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