bpt presentation, page-7

BPT may be looking at Drillsearch to leverage their assets! Not sure about ADE seem like an easy target and ICN would be an interesting play considering the potential value of the GSA and the current balance sheet. Time will tell I guess and the court case is a win win for ICN. If they win they have 100% of 855 if they loose they have what some believe they have today, less than the 100% as per the piece of paper exchanged by BPT. Either way today's SP is well under value so any upward pressure is good. Wonder what the big player in the Cooper Basin makes of all this chatter? Shale Gas is the next big game in the supply chain to the LNG plants and there are minimal water challenges and fewer communities in the Cooper Basin. The NSW CSG business is looking very average against multiple levels of opposition and I fear for the future here unless there is a game changer. Every day they cop a real beating lead by radio shock jock Alan Jones bleating on about how CSG will end the world in NSW as we know it. Rubbish, just look at the prosperity in western QLD and the coexistence of agriculture and CSG exploration. Water is being treated and is now a beneficial use for irrigation and cattle. The good folk in Roma now have an emergency chopper for medical evacuations paid for 100% by the CSG industry and I saw a Santos TV ad the other day and a farmer said he liked the CSG business on his land! All of this makes the Cooper Basin worth a fortune if CSG in NSW falls over in a big way!