So are you saying David Breeze picked the wrong experts last time around because at the time he was telling anyone that would listen that he knew precisely where the gas was and how much to expect.
Just prior to the end of the drilling work it was very difficult to see how they could miss.
Still if they successfully sued those responsible for the ensuing duster and shareholders had their money paid for the drilling campaign refunded in full, that’s great I was not aware of that.
So good luck with it all clearly a case of second time lucky.
Snippets from the linked article:
It has been disturbing to watch the activists onshore in NSW which has led to essentially an abandoning of NSW as an investment destination for many oil and gas companies,” managing director of Advent’s parent company MEC Resources, David Breeze, told Finfeed.
“We are strong believers in the ability of gas, hopefully produced from PEP11, to provide a very real and suitable fuel for long term base load power generation in NSW.”
Various oil and gas companies have tried to crack offshore NSW – without a massive amount of commercial success, although an Ampolex/Santos joint venture in the early 1980s did identify a possible resource at the permit of up to 1.56 trillion cubic feet of gas amongst other targets.
The Advent/Bounty JV has since upped this to 5.7 trillion cubic feet of prospective recoverable resources.
There was initial industry interest in the permit, as hydrocarbon seeps had been observed on the water – with the data able to trace these seeps back to the ‘Baleen’ prospect – the main geological feature in the permit.
Hydrocarbon seeps have been the beginning of many offshore oil and gas plays.
“What we know is that nearly all the important gas and oil producing regions of the world were first discovered by surface oil and gas seeps,” Breeze said.
(20min delay)