"Anything in the Perth or NT basins is undesirable it would need to be highly prospective and near the east coast or at least close to east coast gas pipelines"
I don't necessarily agree IDH. I know what you are saying in terms of the gas supply shortage on the east coast, but there has been success in other areas of Australia such as the Perth Basin of late for instance with plenty of M&A activity occurring.
Norwest Energy (NWE) which had the Lockyer Deep well in the Perth Basin was recently taken over by MRL for $460m.
Strike Energy (STX) which came into the Perth Basin on the back of 50% in West Eregulla now has a market cap of $1 billion. Warrego Energy (WGO) which had the other 50% was taken over by Hancock Energy.
The point i am trying to make is that they need to be open minded in terms of location and get the right project. Thus is so that they can position themselves to be the next STX or NWE in the future in terms of market cap and being a takeover target (where ever the location may be).
(20min delay)