oil and gas gazette sep 05

Been Wondering where the interest has been coming from buy side been building for some weeks

long term trend broken to upside
could have some legs


oil and gas gazette sep 05:

“Epenarra has a mean potential of some
6tcf and the company expects that could be
good quality gas, underpinning our
aspirations for the approved LNG project on
Tassie Shoal.
“So it’s quite a significant activity.”
He said the farminee would not only earn
an interest in the permit, but also a
commensurate interest in the LNG project.


“The key for us is to drill wells and confirm
our gas. We know its there: we just need to
ensure we have it in the quantities we want to
produce.”
The company aims to drill a well around
April 2006, following up with a step-out well
some six or eight months later, depending on
rig availability.

“It’s a very fluid situation at the moment
because of the oil price and everyone has
gone mad drilling holes … so it’s hard to get
a rig.
“Woodside hasn’t helped things because
they’ve swallowed up big chunks of the rig
availability for the next 12-18 months.”

full article
http://www.methanol.com.au/!upload_files/attachment/Oil&Gas_September2005.pdf

Have held this for some time and watched every trade
now feel times are changing for this one ,I feel charts support this . imho.