I migh just add that Beach Petroleum at the Good Oil Conference...

I migh just add that Beach Petroleum at the Good Oil Conference said that all up cost for oil from the Cooper was $25.00 a barrel (including production, transport, royalties) as compared with $13.00 a barrel from the Bodalla fields. I assume neither figure includes finding costs but maybe they do.

What they do show is that at current high oil prices and reasonably favorable exchange rate, oil from the Cooper is very profitable. Biggest expense appears to be transport.

And while we are on the question of prices, one presenter at the Conference said gas from the Gippsland Basin sold for between $2.50 and $3.00 while gas in WA sold from $1.70 to $2.00 per thousand cubic feet. These prices are a long way from the A$7.40 obtaining in the US this week