BHP also may become a force in the Canning. Its petroleum boss,...

BHP also may become a force in the Canning. Its petroleum boss, Michael Yeager, last week singled out the basin as an example of Australian shale gas potential, but one BHP is not yet ready to get involved with because of the effort to get the gas to market.
If a deal is signed, Fortescue will buy 120 million new Oil Basins shares at 3.5c each and be issued up to 146 million options.
It also will be offered a farm-in deal for 25 per cent of the Derby Block permit in exchange for $10m of exploration work.
Oil Basins has application rights for half the ground Fortescue is looking at buying into but is in talks with the Kimberley Land Council over the ground.
Oil Basins shares rose 1c to 4.1c, giving it a market value of $17m.

http://www.theaustralian.com.au/business/mining-energy/fortescue-seeks-cheap-fuel-with-gas-exploration-deal/story-e6frg9df-1226517721681#

That were the news November 16, 2012. LOL
How quickly times change. It might revert back.
Who knows? Sometimes quicker than you think.