aoe discussion re european resources - roiboi, page-2

they also mentioned in their presentation about their international ops, that they will be doing a screening study of Europe CBM projects for the remainder of this year. I don't think PVE would fit in the picture as AOE will stick with CBM and have not shown any interest in conventional gas to date. This is due to the cost per GJ being lower than what is achievable with conventional. Nick Davies was formerly President of BP Asia oil and gas, so if he has not shown any interest in conventional it is not due to naivety.

What also convinces me that a play may be possible is the location of the countries that EPG operates in. They are located quite centrally in Europe.

I did a quick google search and can't find much info of CBM in Europe and apart from some government corps in the UK, there is not much else available. It would also take a long time to get permits in most European countries due to the small size and proximity to towns.

Maybe after all this they will not proceed in Europe. I read in an EPG report that drilling costs are quite high. AOE will not make the investment unless the return is extremely attractive. Good luck to all, i hope if they do make a move there is an option to convert into scrip. I want to accumulate more AOE but the sp has increased so much recently.

Also to note, the AOE's partnership with Shell will allow for fast integration. Shell, being Europes largest energy company will have the human resources available to accelerate any Europe projects. Shell has already seconded and pay for 5 senior managers to AOE in Australia, no doubt they will install one of their own in Europe.