Maybe we (CTP) will fill that need CB Geographical proximity is...

Maybe we (CTP) will fill that need

CB

Geographical proximity is one obvious reason that Australia has become keen on the Asia market. It is reckoned that in order to meet Asian demand six new North West Shelves would be needed. The North West Shelf is, of course, a major gas area for Australia.

Australian still has many under-explored basins for gas, including Galilee, Eromanga, Pedrika, Amadeus, Beetaloo, Canning and Arckaringa. Over the July to October 2009 period Red Sky acquired significant acreage holdings across a number of basins, amounting to hundreds of thousands of square kilometres. These include the acquisition of Cydonia Resources, Norwest Hydrocarbons and Surat Resources with substantive positions in Queensland and NSW as well as a farm in to Central Petroleums extensive acreage in the Northern Territory. Its target is to have a portfolio with 100 tcf of gas-in-place.