Yeah have to agree with spec here. They were collecting A$125...

Yeah have to agree with spec here. They were collecting A$125 per bbl of oil last quarter but the Brent oil price is down about A$7 this quarter. Currency has only really fallen in the last 2 weeks.

The average price per bboe too is lower so Spec's estimate of $114-117 sounds about right.

Also see below article from the Australian today with comments from Brad Lingo re Queensland LNG.

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THE companies behind the $70 billion of liquefied natural gas projects being built in Queensland are continuing to scour the Cooper Basin for alternative sources of gas, Drillsearch managing director Brad Lingo says.
Speaking to The Australian in Perth, Mr Lingo said he believed the Queensland LNG players were all eyeing the Cooper Basin for gas acquisitions that could help meet a projected shortfall in supply at their own projects.
BG Group’s Queensland Curtis LNG project, the Santos-led Gladstone LNG development and the Australia Pacific LNG joint venture of Origin Energy and ConocoPhillips are all expected to come into production in the next year. The projects are the first in the world to be fed with coal-seam gas, but as start-up nears there are growing concerns the companies may not have sufficient coal-seam gas production in place to operate the plants at full capacity.
In the years since the three Queensland LNG projects were commissioned, Cooper Basin players such as Drillsearch and Beach Energy have enjoyed major share price re-ratings as the region was reinvigorated through new discoveries.
Mr Lingo said there was a “compelling logic” for the Queensland LNG players to increase their presence in the Cooper Basin, not only to firm up feed for their facilities but also to manage the risk of having to rely entirely on supply from their Queensland coal-seam gas fields.
The key players have already taken positions in the Cooper Basin. Santos has had a presence in the basin for decades, while BG and Origin have entered into joint ventures in the basin with Drillsearch and Senex Energy respectively.
Mr Lingo said he believed the Queensland parties were quietly looking around at acquisition opportunities in the Cooper.
“They’re doing a lot of that review and analysis through third parties, whether it’s through various investment bankers and or resource evaluation houses,” he said.
“They certainly don’t want to show their cards to the targets, but equally I don’t think they want to show their cards to the other participants in either the same or other (LNG) projects. I’d say stealth is the watchword.”
With so much money having already been sunk into the construction of the LNG plants, Mr Lingo said the developers would be weighing up the benefits of buying more gas reserves in the Cooper compared with developing the lesser quality portions of their coal-seam gas fields.
“If you’re putting billions of dollars into a large export project you’re going to want to make sure it’s a fully utilised as possible,” he said. “There will always be that trade-off between what is the cost of moving into more marginal coal-seam gas areas versus the near-term certainty and long-term upside associated with the Cooper.”
The company’s Brownlow well in the Cooper had produced at 18 times the rate of the best CSG well and had cost only $3.5 million to drill.