Shale Gas

http://www.businessspectator.com.au/bs.nsf/Article/BHP-Billiton-swoops-on-US-oil-firm-Petrohawk-for-1-JRUN4?OpenDocument&src=hp1


BHP just spent nearly AUD$12 billion purchasing a shale gas producer in Texas and Arkansas, covering about a million acres. Just look at BKP... a million acres in central Australia but nothing found yet. Worth "ext to nothing" compared to Petrohawk. And then there is CTP worth a "few cents" only to BHP. These are unpolished gems but they could also be just quartz if nothing is found. However, the geology and seismic studies suggest otherwise.

As usual, Australian assets do not carry the same weight.