Quote "I doubt Dart will ever consider exploring the area themselves."
Exactly . What I like about the Dart guys is that they know their limitations . They aren't going to risk having an accident with a shale well or trying to do anything beyond their capability .
They understand CBM very well and the plan is to stick to cheap CBM wells to fulfil licensing obligations .
One thing which sticks in my memory from a conversation with John McGoldrick at an investor was that the economics of CBM can be better than the economics of dry shale gas in places like the Cooper Basin .
Although the capex for shale exploration is beyond Dart , I would expect them to participate in the Gainsborough Deep vertical stratigraphic and exploration well planned for 2014 with Egdon , Igas and a couple of others .
European shale and UK shale are high risk and people are definitely starting to get cold feet as momentum has stalled .
Dart is currently my best performing share so it's hard to resist the temptation to take some profit and in similar situations I normally would but in this case I think now is the time for patience .
DTE Price at posting:
12.6¢ Sentiment: LT Buy Disclosure: Held
