AYO unknown

been told to buy, page-2

  1. 2,086 Posts.
    AYO could easily be $1.50 this month if YES-1 comes off but lets not forget its a wildcat. But all the indicaters are there that there is certainly is the possibility that Oil/Gas is lurking ... or may have been lurking - thats bad of course.

    Regarding the Sept date mentioned - this could be Whicher Range. I guess they think they have the technology now to unlock the 4,000bcf of Gas. If they can get WR to flow I think they will have no problem selling into the WA line simply to give the Govt and Consumers over there a second supply alternative (ie the Longford in VIC scenerio) - the following article is from todays West Aust...

    "Terror cells 'a threat' to joint oil, gas area
    By Daniel Clery

    CANBERRA

    BILLIONS of dollars of investment in gas and oil reserves off Australia's northern coast is vulnerable to terrorist attack, according to a Royal Australian Navy-linked think tank.

    In a yet to be published research paper, the Sea Power Centre Australia identifies Philippines terror groups Abu Sayyaf and the Moro Islamic Liberation Front as specific threats.

    The groups - which are believed to be linked to terror organisations Jemaah Islamiyah and al-Qaida - are the main targets of a counter-terrorism agreement signed by Prime Minister John Howard in Manila yesterday.

    The paper said they were a threat to ships and infrastructure in the joint petroleum development area created by the 2002 Timor Sea Treaty.

    Ten per cent of total revenue from the JPDA - which has a potential yield of almost 12 trillion cubic feet of gas and 900 million barrels of oil - is allocated to Australia under the treaty, with downstream benefits of about $22 billion.

    But the RAN paper says the JPDA is exposed to terrorist attack because of its isolated location and an expected increase in the number of slow moving tankers and unguarded, floating storage facilities as the area is fully developed.

    Petroleum has been produced from the Elang fields since 1998, with development well under way on the Bayu-Undan reserve.

    While Australia patrolled the entire Timor Sea area under the now defunct Timor Gap Treaty signed with Indonesia, no RAN patrols of the JPDA have taken place since East Timor gained independence last year.

    Terror attacks on the warship USS Cole in 2000 and French tanker Limburg last October have highlighted the dangers posed by maritime terrorism, a threat the paper says will deepen in South-East Asia as Abu Sayyaf and MILF continue to foster links with Jemaah Islamiyah and al-Qaida.

    Philippines police and armed forces have been unable to rein in the two terror groups.

    In 2000, Abu Sayyaf kidnapped 21 people from a Malaysian dive resort and took them to the Philippines by boat.

    With Indonesian waters continuing to be a haven for piracy, the paper also raises concerns that crews on any ships or facilities in the region will be unable to distinguish between a terrorist boat and a fishing vessel.

    The area is covered by Australia's Jindalee over-the-horizon radar network, which can detect but not identify vessels moving illegally into the area."

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    An even more compeling case terrorist catstrophe could be made for the NWS. Imagine if supply was interrupted for weeks or months to Perth.


 
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