I found this article re Santos - IMO very relevant for MHL's PEL115 FURY JV & the anticipated near term proposed activity.
Link - http://www.australianews.com.au/story?cityid=d1de82e1-fce9-4f45-9541-79d83e888155&storyid=955a005e-9615-4f99-b527-5bf998aa67e5
Extracted from above link:
Dated - 5 May 2011
'Flooding in the Cooper Basin in South Australia meant production of oil and gas this year was tipped to be four per cent lower than forecast.
Production was expected to be 47 to 50 million barrels of oil equivalent, chief executive David Knox told shareholders at the company's annual general meeting on Thursday.
The company's Moomba operation in South Australia is the nation's largest underground gas storage facility but had been affected by flooding.
"If we have an average rainfall, we're good. We've had almost a 30-year event over the last 12 to 18 months at Moomba," Mr Knox said.
At their worst moment they had about 150 wells shut in, he said, with about 50 still shut.
"With a normal winter expected, we will start to get Moomba back to normal levels of production and we are starting to see that effect, it is starting to dry out now." '
Cheers WM
MHL Price at posting:
0.2¢ Sentiment: Hold Disclosure: Held
