RE: Shaking the tree...27 Oct 2020 06:26
Mr Riddle said the better than expected results from Tanumbirini-1 augured well for a low number of wells to be required for a commercial project, reducing costs.
"That's where the productivity of the Beetaloo really differentiates itself versus other areas of Australia: it's big, it's highly productive and it can solve these shortfalls with just a handful of wells," he said.
!!!!! "This is why I believe this is the hottest play on the planet ... definitely within the OECD countries." !!!!!
We as Fog oldtimer we know and hope that this dream becomes the reality since a decade and bet our money on that bird. "Within the western world, the OECD" and that should be the argument that Fog could ask for a higher strategic price. Outside of the US there is the Vaca Muerta for example , another very interesting shale gas/ oil play. But Argentinia is ripping of the oil companies, changing the rules, forcing the oil companies to sell the produced hydrocarbons for the domestic market at a lower price than the international oilprice (means for the oil companies: suddenly the input for their business case is wrong). I think it was Chevron that has written in their contract with the Argentinian government that if they go to court the court will be in NY. And Argentina is desperate since 1920 . Once they were one of the richest countries and today their state owned plane is confiscated when it lands on the wrong airport because nowadays they do or cannot not pay back their bonds . As a result they desperately try to get more money from investors by changing the rules. Compared to Argentina , Australia reduced the political risks since the Australian politicians support the positive outcome of the moratorium in NT and overrule the green lock the gate minions. Wasn t it money from Qatar for example that sponsored one of the shale gas critical Hollywood films, when it became clear that the US is not going to build 10, 15 LNG import harbours for LNG (from Qatar) after the US had this new gas production success with shale gas and did not need to import any LNG anymore. The buyer of Fog should understand that with the Beeteloo he gets an asset with gas, condensate and with the stability of the rules in Australia. Especially when I see the prices paid for shale gas/ oil take overs in the US recently (Chevron, Pioneer, Devon , Conoco etc) I start to wear my rose tinted glasses again.
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