camdenbob,the figures that are being thrown around are...

camdenbob,

the figures that are being thrown around are possibilities and certainly shouldn't be dismissed.

we do know that ctp's pedirka basin tenements could host inexcess of 70tcfg. 2 wells to date seperated by 40km's have intercepted a 160m coal seam and a 140m coal seam and seismic suggests that they are connected.

what we don't know is how it will be developed and on what scale. we also dont know all the associated costs etc, they still need to prove a resource and we dont know what % ctp will ultimately own....currently they hold 80% with QGC/BG farming into 20%.

here are some numbers to think about which were taken from a previous post and good luck with whatever decision you make.

* TCF - trillion standard cubic feet (1,000,000,000,000 cubic feet).

* 1 TCF equals approx 20 million tonnes of LNG.

* Australia domestic consumption is approx 1 TCF per annum.

* USA consumes 23 TCF per annum.

* International gas/LNG prices are approximately two to three times higher than the Australian gas price,
ie. A$4 billion per TCF versus A$8-10 billion per TCF for long term contracts.

* International spot prices are usually a lot higher.

and some recent sales

LNG SALES AGREEMENTS

2007, Woodside signed a Key Sales Terms Agreements with the Chinese for approximately 2TCF at a price of approximately A$9-10 billion per TCF for delivery over the next 20 years ex. Browse Basin.

LNG SPOT SALES AGREEMENTS

Oct 2008, Chinees buy Algerian LNG Cargo at record price to boost supplies. US$20.43 per million btu
(Source; Bloomberg, Oct 2008) (US$20.43 billion per TCF).

cheers