Working on 1mtpa equals around 54PJpa or 140mmscfd; Over a 20 year life of the two trains you will need: 8.5(54)20 ~ 9000PJ of gas
BG are claiming around 14,000PJ of gas at present, this might be the 3P category, but my last fuzzy check on QGC 2P had them at about 7000PJ or so, and I bet with 200 or so wells drilling in 2009 they have been able to up that.
They are looking very strong; not to mention the exceptional results they are having.
A couple of things to chew on regarding noise in the CSG sector:
- Don Voelte smashed CSG a few months ago. This is interesting considering that woodside is held by about 30% shell. COI?
-David Knox said the door was closing. What large gargantuan creature could have driven that man to frustration? I would tip that it was probably Shell who amid a massive (and ongoing) staff reduction are struggling to find their feet, not to mention suffering from a refining glut with profit down 70%. Shell also work a bit with Petronas, so there is a natural synergy there that they would be trying to make work.
-recent smashings by investor publications have come amid broker coverage commencing for several stocks. nothing awhry there eh?
I guess you could now ask the question, so is that blue sky in the diggers and drillers section that has recently been wiped out, no returning in a flash. I have been following AJL and WDS pretty consistently as late and noticed that AJL has come off tops of $5 to skim around $3-3.2 and WDS been smashed back from almost $2 to sit now around 0.80. I will certainly be jigging my portfolio now to consider them. Currently hold none.
Cheers,
SF
AOE Price at posting:
$3.43 Sentiment: Buy Disclosure: Held
