On the subject of MEL's "stranded resource I thought this might be of interest:
Ken Talbot has invested 10% in Perth explorer the unlisted Advent Energy company. The Ocean Patriot rig has been contracted to drill PEP-11 in the offshore Sydney Basin (off Newcastle). PEP-11 is being progressed with joint venture partner Bounty Oil and Gas (BUY) and covers a 200km long,8400sq km exploration area. The area is totally untested, but highly prospective. Adjacent wells drilled onshore have flowed gas or encountered oil shows. The company believes it has the potential to hold up to 1.2 TCF of recoverable gas.
nsw/qld csg company comparsions, page-25
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