This bit is quite important:"Most recently, BHP Billiton...

This bit is quite important:

"Most recently, BHP Billiton reported (bhpbilliton.com/bb/investorsMedia/news/2011) in
February 2011 having acquired 100% of Chesapeake Energy Corporation?s upstream and
midstream Fayetteville shale gas interests in the US for US$4.75 billion. This included:
- US$0.5billion for midstream interests;
- 487,000 net acres, 415 MMCF/d (million cubic feet per day) current production, 2.4
TCF proved reserves, and 10 TCF total risked resources.
This represented a purchase price of US$1.77 per MCF (thousand cubic feet) for proved
reserves or US$0.43 per MCF for total risked resources."

Which, if you do the math - puts quite a big number on the value of the resource.

Keep in mind though that the depth of the resource in USA is a lot deeper than in UK - therefore cheaper to drill in UK but lower supply pressure.......