Where is shale at in Oz? If you believe Wood Mac it is 10 years away from being in big time production. This is because of the lack of equipment and information.
Then you have the issue that Cooper Basin is dry gas. Otway is liquids rich but slap bang in the middle of primo farmland and wineries, hence BPT being prepared to sell its SNE stake to COE - it is going to be very problematic to drill and frac even exploration wells let alone production.
So, my view, big move is going to be major acquiring longer term gas for LNG. BPT is a morsel for the majors who will be wanting to shore up gas for already committed LNG plants.
last nights calcs , page-9
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