reminder

Just a reminder why I and others have invested in PEP11... This is the research article done by wise owl on the 22nd August 2010, it's a good read... some points are below, for and against the project, note that most of the against' have been dealt with by now... Also check out point 2 in the bulls column :)

The Bulls & The Bears

The Bulls Say

 A successful gas find has the potential to supply NSWs gas demand for years to come.

 Unrisked estimates suggest PEP11 could host as much gas as
the Gorgon project on the NorthWest Shelf operated by
Chevron, which contains 40TCF of gas.

 Advent Energy currently has enough cash reserve to drill one exploration well, but is raising funds for two.

 Major oil and gas companies would likely look to farm into this area should drilling be successful.

 A successful find is potentially worth billions of dollars.


The Bears Say

 All projects are still in an early stage of exploration and remain speculative with no defined resources.

 Drilling has been delayed before and investors would not look favourably on the drilling schedule being moved further into the future.

 Environmental issues may stand in the way of this field being developed.

 High drilling costs will make it difficult for Advent Energy to drill beyond the initial two wells.

 Reported oil seepage could be stemming from man-made
sources as the permit covers a major east coast shipping route, though gas seepage cannot be attributed to this source.

https://promo-manager.server-secure.com/download/files/03059/178807/BPH_22_08_2010.pdf