Ann: Transforming New Standard Energy , page-58

Freehold,
This is shale production . The wells are short lived and consequently production costs are high. It is also BOE which means mostly gas , and with shale production picking up from both the Marcellus and the Eagle Ford , gas prices will soften.
NSE. Now join a long list of Aussie oil companies that have ventured into the US. I can't think of one that really made a success of it. I can think of many that eventually pulled out with their tail between their legs. US oilmen just sit and wait for Aussie companies to show up with their cheque books and seel them properties that nobody else wants, at very high prices.
I am not saying this has happened to NSE , but lets see how it plays out.