I have always felt very comfortable investing in CB producers...

I have always felt very comfortable investing in CB producers and today's Ann of Christies 7 is a classic example of why . Here is a field discovered almost 10 years ago still producing today and importantly gorwing reserves and production. The CB discoveries almost always keep growing , like callowonga, butlers parsons , and now Bauer in Pel91 and most likely Hanson , growler and snatcher in the SXY/BPT permit
Most oil companies have a discovery and from day one it starts to deplete and then they need spend big exploration dollars on that next discovery . the CB seems to replenish production year on year and in the last few years with new seismic interpretation opening up new birkhead prospects is now actually growing reserves . It's the equivalent of the "ever lasting gob stopper " of the oil world
Today's Ann in christies was the epitomy of the value of the CB , addition to reserves, , addition to field size, addition to production . The comment about strong oil shows In the birkhead reflects that the drainage area of Christies 3 is likely to be larger. So with existing fields growing and new discoveries such as Bauer Hanson elliston etc adding new fields that will also grow , and with new birkhead zones between Pel91 and 92 yet to be tested oil production from the CB will keep on delivering 100s of millions in revenue for many years .... This is why the shale spend to be is not significant and why spending 150 million to potentially add an additional .5 - 3 billion in shale value is worth it. The year that has just passed has seen many additions to BPT 2p reserves. The value of these will be realised when the pipelines is flowing and BPt are granting 350 million from the Czb oil alone. My understanding of CB has been built over 7 years holding large positions in various times of COE , DLS and BPT and smaller positions on SXY and ITC and STU ( the last two gobbled up by BpT and SXY respectively