Gassed, I know its tied to the tapis oil price. the whole point...

Gassed,

I know its tied to the tapis oil price.

the whole point is, it does not matter.

what you don't seem to understand is that it will be the oil price that determines the economic viability. What we have no idea about right now, due to the infancy of shale gas in australia is the costs of extracting the gas which is a function of a) drilling/completion costs, b)well deliverability and hence spacing and c) op costs.

ie. if it costs Icon 50$ to extract, convert and ship one barrel of lng, then you'd better hope the price at that time is more than 50$/bbl.

If it is less, it is a loss. If it is more it is profitable.

That is why, at this stage, it does not matter. You can find a bootload of gas, but if it costs you more to get it out of the ground than what you can sell it for, it's uneconomic.