a lot of critics are unforgiving.. what used to take 20 years to...

a lot of critics are unforgiving.. what used to take 20 years to develop in shale exploration, the barnett shale for instance took that long!! is may be worth praising the jvp for doing it over a few years and with a year off in hibernation over the gfc and oil price crash.. and on a shoe string budget!!

risk reward investment is about considering all aspects of the exploration and not just the emotion of the sp ups and downs, some jvp partners really went to town on cap raisings at very high peaks. i expect theey would also be unimpressed... but to me the outcome of the exploration is always a primary consideration imho.. so at the end of it, the result of the wells being stimulated are extremely important



this was from a site i thought was interesting, as the engineering costs that the jvp have had so far has been a huge issue to invetsors..



This theme of choosing engineering risk over exploration risk is becoming more common across the resource business.

I had an excellent meeting Friday with unconventional gas guru Steve Holditch. At his office on the Texas A&M campus, he described how gas producers are also growing adept at engineering new production in challenging reservoirs.

America has led the charge. And with each new shale gas basin developed, the learning curve is getting less steep.

It took 20 years to get the completions right in the Barnett shale.

Today the time is only a few years.

Steve pointed to a report from April 2009 showing major U.S. shale plays. Conspicuously missing was the Eagle Ford shale of south Texas. Today the play is one of the most active in the nation.

A year ago it didnt even make the map.

http://www.agoravox.com/news/business/article/a-big-vote-of-confidence-for-the-11267