keeping a lid on it, page-20

More comments from Strachan. See below.

"Stock market analyst Peter Strachan told delegates Buru Energy Limited was "clearly the star of the region", with control over up to 70 per cent of the Canning Superbasin.

"(Buru has) made a world class discovery of gas and condensate in the Canning Basin - all the resources at the moment are contingent … but in my opinion there is going to be over a billion barrels of oil and several trillion cubic feet of gas," he said.

"It will be a huge game changer for the whole region … there must be people getting out their slide rulers around the world."

However, road blocks included the high cost of doing business in the region and the need for a "social license to operate": "If you don't have that, you basically can take your shovel and pick and go away."

Mr Strachan said Australia was in a "super boom" driven by resource stocks and the Kimberley was well placed to capitalise on worldwide demand.

The only real impediment to increasing production was the finite nature of resources, he said.

"We're coming to our technical and physical limits of extracting these things … we've only got one planet," he said.

"We've clearly got challenges and there's a lot of issues … if we dig it all up and sell it, what are our great-grandchildren going to do for energy?"


http://au.news.yahoo.com/thewest/business/a/-/wa/13653571/broome-chamber-boss-talks-up-kimberley/