Aussie Shale Gas

Lloyds TSB Bank wants a role in Aussie shale gas. BPT announced a 2 Tcf resource recently from its first exploration (and fraccing). Major gas companies seeking roles in Central Australia. If you join in too late, it will be like the USA where companies seeking shale gas initially were worth next to nothing. And suddenly, worth billions. A US government report made a remark regarding the Australian potential. So expect Yanks to come swarming around. Lots of them have tasted money from the successful US exploitation of shale gas there. Unfortunately, China may have the biggest reserve of shale gas so this could be a damper.

Still, before the Chinese confirms her shale gas resource, it seems to me that this will be the next sector to boom, quiet at first and boom when more drilling results confirm the impression that Aussie shale gas is BIG. Japanese and Koreans still need our gas. POG is settling after its record bubble high so I expect the gold sector to cool a little bit.

Hardly anybody lives in Central Australia. BPT did the fraccing without even Bob Brown raising any objection.

CTP is good at hyping but nothing much is happening, ie, no further result. Picked some shares up at its recent trough at 5.9c. BKP has a JV partner that is making noise. There is also shale gas in Northwest WA, too.