This decision is really sensational. For years we have been...

This decision is really sensational. For years we have been waiting for this, as it truly unlocks the anarchy that most local councils have been trying to pull off.

Now a significant number of new projects will be announced.

But, don't forget, it is only about exploration. And after poking the first couple of holes exploration is finished for shale. It is about the process that follows. We can only hope that the next steps are also fairly treated in terms of permitting. Production and drilling new laterals for production should also be covered by Infrastructure of National Importance style process. Cuadrilla and Igas as well as Ineos are front runners, and next year this is the phase we will be in, so critical.

The big difference with traditional oil and gas is that shale only requires very limited exploration. Its about the phase after that, drilling laterals from the Superpad.

Given this progress, the share is starting to become sensationally cheap...