From Slugcatcher on PNN 23 JulyWhile the conventional and...

From Slugcatcher on PNN 23 July

While the conventional and unconventional shale-gas hunters were having a great week, the coal seam duo where doing less well. Santos, perhaps because Cooper conventional remains at its core, managed a rise of 18c (1.7%). Origin went the other way, sliding A23c (1.9%) lower.

One week on the market is not a trend. However, it is awfully interesting in the light of comments made in this column two weeks ago about the words of ex-Woodside boss, Don Voelte, coming back to haunt coal-seam believers.

Back on July 9, The Slug dredged up The Don’s prophetic words about “the dash for coal seam gas” seeing some projects “being sanctioned before being ready, and some without sufficient reserves”.

When combined with ongoing environmental protests, worries about the cost of operating a borefield with a zillion producing wells, and worries about simply gathering enough gas for the liquefaction plants, it is clear that the pressure is mounting on the coal-seam-to-LNG brigade.