Whats making it move. Few things,
1) News of rig made available to them for spudding Zeus-1 on the 17th. Zeus-1 is targetting a 5-15 tcf gas field.
2) The largest discovery in Australia was the Jansz at 20 TCF.
3)Proximity to existing giant fields like the Perseus & Rankin operated by Woodside.
4) Gas bearing rock formations at Z-1 are same as in the above fields.
5) Should Z-1 b successful, gas can b sold off straight into the existing pipeline at Goodwyn.
These are some factors that are making the SP take-off.
MEO got hammered severely last year & I guess people dont want to the boat.
cheers
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