It is early wishing stage but they said potential worth
$50 billion. If there is, it is not s small at all.
Offshore drilling for gas could reap a bonanza
By Julia Holman
Tuesday, 14/12/2010
The New South Wales coast is famous its pristine waterways, but soon it might have another claim to fame.
Drilling will begin this week to look for gas and oil reserves 55 kilometres east of Newcastle, with a potential worth of $50 billion.
The company running the project says if they find gas and oil, the reserves could rival those of Bass Strait and the Gorgan gas project in Western Australia.
(source:www.abc.net.au)
Rehards,
holding only BUY
if successful, bph holding value is best, page-11
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