Hendrous, i think the reason BG chose QLD is because QGC developed the skill set in CBM. Drilling CBM vs conventional is completely different. Also the proximity of QLD to Asia is another point as is the location of the surat and bowen basin in QLD. Most of the drilling areas in QLD are uninhabited and can therefore provide fast expansion with minimal objection. AOE experienced first hand what disgruntled villagers can do ie. tribes attacking drillers in India. Europeans are probably more civilised but mob mentality still exists everywhere.
In regards to Europe being depressed, i moved to London 5 weeks ago and although jobs are harder to come by, supermarkets have all reported increased sales due to people staying at home. This means increased heating and electricity ie. more gas. There is also an electric car revolution going on, even the supermarket delivery truck is electric. I hear it screaming by every few hours. I thought electric was supposed to be silent?
EPG Price at posting:
15.0¢ Sentiment: ST Buy Disclosure: Held