STX 2.78% 17.5¢ strike energy limited

another worrying csg article, page-23

  1. 1,655 Posts.
    Although new to Strike, it does not seem to me that it is particularly active (currently) in projects looking to extract gas from coal beds (there is the Kingston lignite project) and it doesn't seem to have anything in farming areas of Queensland.

    From what I have read, coal beds also produce contaminated and saline water but I've not seen reference to similar in the case of shale gas. Water used for fraccing shale gas and oil formations may be contaminated by introduced chemicals to activate the resins on the proppant but they do not seem to be talking about those. It appears also that the coal formations are far shallower than, for instance, the EFS targeted in Texas. I don't have a feel for the depth of the Australian shale formations.

    A recent Reuters article talks only about CSG: there's no mention about shale gas and oil, which seems to be the principal target for the company at the moment, even in the Coopers Basin. http://www.reuters.com/article/2011/08/26/australia-coalseam-idUSL4E7JO1ZF20110826

    And STX's activity report of 21 July refers only to shale gas in the southern Coopers - you don't get the heavier HCs from coal beds.

    So, I am a bit puzzled as to why there is so much concern expressed.
 
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