pxa, page-15

Thanks Sav-J once again on your excellent research report on BG / QGC / PXA.
Just a bit of news from a few weeks ago. Obviously as you said BG seem to have lots on their plate relating to gas production and have been busy in other places. Its great to know that they have been also chatting with CTP and JH.
Just a recall of an article from Business Day 17th July 09

"CHINESE move into Australian Water to drill their own wells - Liu Kuang, general manager of the WA-406-P project, told BusinessDay from Beijing that CNOOC would use the Songa Venus drilling rig currently in the Browse Basin once it received a sign-off from the Government. The drilling is expected to operate 24 hours a day over a four-month period.

Surrounded by exploration wells named Lorikeet, Mallee East and Bogong, the three Chinese wells, Hong Niu-1, Jin Niu-1 and Fu-Niu-1, are conspicuous.

However, Mr Liu said the wells' names could bring a change of fortune for both Australia and China as the two countries battle over an appropriate iron ore price and the detention of Rio Tinto executive Stern Hu.

"2009 is the Year of the Ox in China," he said. "Niu is the Chinese pronunciation of ox, while Jin, Hong and Fu mean lucky and happy in Chinese customs, so we hope these names will bring good luck."

Federal Environment Minister Peter Garrett will determine whether the drilling requires any environmental monitoring or environmental-effects statement. His department is expected to give its assessment by early next month. CNOOC says it will start drilling as soon as possible after getting the go-ahead.

Mr Liu declined to comment on the costs, but it is estimated the off-shore drilling campaign, to a depth of more than three kilometres, could cost up to $150 million.
THE FOLLOWING SIGNIFICANT NEWS is perhaps of interest to BG and maybe CTP.......

CNOOC has already expressed its interest in LNG becoming the first customer in the burgeoning Queensland gas market, signing an agreement with BG to receive 3.5 million tonnes of LNG a year for 20 years. Industry observers estimated the deal could be worth as much as $US45 billion ($A56 billion).
Obviously BG will be trying to tie up any OTHER GAS resources it can obviously find. Definately BG attemting to moving up the world ladder of biggest OIL and/or GAS producers! Its currently 49th biggest in the world with a value of $100 billion."
Now what would BG want from CTP?