It seems Santos has a signed EMP for their Dukas-1 well in the southern part of the NT. It looks like they have 1/6th of the annual rain compared to Darwin. So, no need to wait for the end of the rainy season. The dates from the EMP are quite interesting though. Says 9 week drilling to start Feb - May. Inside the 6 month water testing.
Stage One Civil works 6 weeks January-February 2019 Water bore installation 2 weeks January 2019 Stage Two Mobilisation of drilling equipment 4 weeks February-May 2019 Drilling and Completion of well 9 weeks February-May 2019 Well Suspension < 1 week April-May 2019 Demobilisation of equipment 2-4 weeks April-May 2019 Well Testing 12 weeks June – August 2019 Rehabilitation post well completion 1-2 weeks May-June 2019 Rehabilitation post decommissioning of infrastructure/site
At the very end, and oddly placed, was a comment that Eva Lawler introduced new legislation that there must be 1km between water bores and gas wells. Does anyone know if that's normal?
I took this from Santos's application for water bore approvals.
‘The Panel’s view is that monitoring of key water quality indicators in the groundwater in close proximity (that is within 10-20 m) to each planned well or well pad is essential, and that this monitoring should commence prior to any well drilling, with subsequent monitoring being particularly focussed on the hydraulic fracturing stages. To this end, multi-level monitoring bores must be installed in advance (at least six months)’.1
RE: Seems a little odd to me that22 Jan 2019 19:58
I think the price is down because of the June start. Volume isn't big enough to worry about a seller.
In Canada, we have tax free savings accounts (TFSA). You are only allowed to put in $6000 this year. And, the total since they started is $63,500. So, if someone hasn't contributed ever, then could add $63,500 this year. So, as the name says. Hit a home tun with FO, and those gains are not taxed.
70% of my FO holdings are in my TFSA account that I trade.
I think FO is a great TFSA trade for those in Canada.
Looking at a few of the companies in the Galilee Basin. It's coal seem gas without fracking. So, hard to compare to the Beetaloo. But, Galilee Energy saw a big SP climb in 2018. Low of .12 and a high of .80. Eastern Star was sold to Santos in 2011 for $900M or so with reserves of 1520PJ. Beetaloo could have way more than that if proven.
All speculation on my part, but it will be fun to see what happens in the next 2 years.