Well Buffin, you are absolutely right, no one is going to pay for this just yet! Nobody was going to pay billions for the CSG acreage in Queensland in 2001 either were they?
But by 2007, things were really starting to kick off and billions of dollars of acquisitions ($5.75Bn by BRITISH GAS for QGC plus another Billion for Pure Energy, and countless others not too mention SHELL last month for $500m for BOW).
Are you suggesting that British will buy Aussie but are actually NIMBYs when it comes to purchasing their own prospects in ole blighty?
Rome wasn't built in a day!
doubt of prospectivity for UK shale?
I would actually disagree that nobody has sucessfully fracked in the UK as yet. The comingled flows from the Vertical Preese Hall well were quite good, and that was only the first few stages.
A successful full production well is another issue however, and it will only be a matter of time I believe.
Pop Quiz
Pop quiz hotshot, who recently said there is a hell of a lot more shale under blackpool than we previously first thought?
Run by Greenies?
I can appreciate who is running the UK energy department, but he also has a responsibility to the people of the UK, and I believe no matter how altuistic that he may be; he cannot ignore the scientific evidence being presented to him and will give it the amber light to continue.
How could I be so confident of this?
Well the current position of the BGS is now starting to get some airplay. They have publicly stated that the risks posed by shale gas are extremely unlikely.
If you go to their website (BGS) then you will find a new section devoted to the development and study of shale gas in the UK.
Lets do the maths The UK is broke.
The UK has massive debt.
The UK has high unemployment.
The UK has decreasing domestic energy supplies.
The UK has increasing energy demand.
The UK has increasing energy imports.
The UK has increasing demand for natural gas.
The UK has VERY high energy prices.
The UK has massive amounts of shale gas.
The UK DECC is due to respond to the halting of the fracking by Cuadrilla at Presse Hall.
The UK DECC is still considering their position?
The UK BGS has established a "Shale Gas Project"
The UK BGS Shale Gas Project includes baseline studies on methane and ground water.
The UK BGS is adding to their capabilities to test and understand shale gas in the kingdom.
DOES THIS SOUND LIKE A GOVERNMENT ABOUT TO BANISH CUADRILLA FROM THE UK OR ONE THAT IS GOING TO PROCEED, AT A MINIMUM WITH CAUTION.
Keep moving.
SF
Read more folks. It's coming to a company on the ASX near you!
AJL Price at posting:
$1.16 Sentiment: Buy Disclosure: Held
