NSW coast - brace yourself Nellie !!

A wee small birdy told me that a company is planning to drill an offshore gas well off the coast of NSW. This will be the first time ever a rig has been parked off an Aussie coast where 6 or 7m people live.

Normally we get kicked out into the back blocks, either 300kms offshore way over the horizon off the coast of Broome or Derby….or maybe 200km west of Quilpie, where in-bred Qld’ers roam free and feral.

Not this time however. We are going smack bang in the face of everyone. All the Sydney suits, all the Nimbin hippies, all the Vaucluse toffs and all the Newcastle dockyard coal workers. Front and centre baby !!!

Can’t wait for all the greenies to start having a whinge – should be great.

Apparently there are 12 huge coal fired power stations along that region that account for 1/3rd of the nations total output of supposed bad stuff. The NSW Govt is longing for a white knight to come to it’s rescue and they have welcomed us with open arms about our proposal to have a scratch around.

If it comes off, probably two things will happen. Everyone involved will be rolling in it, and secondly it might threaten a few coal mining towns.

This is true wildcat oil-well territory. Nearest offset well is pretty dodgy and it’s onshore, drilled back in ’66. Nearest offshore well is about 1,000km away in the Bass Strait – so not much help there. Talk about going into the lion’s den with a blindfold on and two hand’s behind your back. Just my cup of tea.

Rig will be skull-dragged up the coast from the Bass Strait in a few months time, where it will belch and grind for a while. All normal people should give it a very wide berth.

I know this has nothing to do with property – but it may very well affect 6 or 7m Aussie people in a not insignificant way.


Disclaimer – the anon. author hasn't got a clue what he's talking about. ;)
 
If it comes off, probably two things will happen. Everyone involved will be rolling in it, and secondly it might threaten a few coal mining towns.

Why will it threaten coal mining towns? Most coal is exported anyway? Most gas power stations supply peak load power, not base load, and if we continue our current immigration rates the extra power will be soaked up straight away. What am I missing here? There will still be 2 coal trains an hour cruising through my town whatever happens.


See ya's.
 
Can’t wait for all the greenies to start having a whinge – should be great.
I'm whinging, I would hate to see the beautiful clean blue water we have here and white sand beaches turn into filthy, scummy polluted deserted oil soaked sludge banks.

What are they thinking? The best part of Australia, I know surfers won't be happy for a start.
 
If it comes off, probably two things will happen. Everyone involved will be rolling in it, and secondly it might threaten a few coal mining towns.
Hi Dazz

The first one is a dead cert but the second one seems pretty unlikely. There is already heaps of cheap onshore (CSM) gas stranded in the east coast market trying to get a look into the power industry. Heaps of supply but no demand. They are making good inroads in the peak and mid-merit markets but it's pretty tough knocking an incumbent coal plant off it's base load perch if you have to build new equipment. We do have pretty much the cheapest electricity in the world after all. Only carbon pricing is likely to shut down coal plants in the foreseeable future.

Anyway, why would you want to? If you strike decent gas then build a shipping terminal and get access to the international market - the prices are far better! Should make a visual highlight sitting on the coast there while coming in to land at Sydney airport! :)

It's the current disparity between domestic and international gas markets (and the ability to blend the CSM with LNG) that is justifying a Gladstone terminal of some description right now. If you struck a Gorgon off the coast of Sydney the international market would be the target.

Disclaimer – the anon. author hasn't got a clue what he's talking about. ;)
Yeah, sure! Good luck with your endeavour. We can always use more energy resources in close proximity to population centres!
 
If you struck a Gorgon off the coast of Sydney

Indeed. We'll have to have a scout around for a suitable site. I hear not too many productive uses of land around Manly, and Bondi seems empty most of the time. Does the PM still use Kirribilli for anything useful ??


Set up a 5 mile exclusion zone, call it good. :)
 
Indeed. We'll have to have a scout around for a suitable site. I hear not too many productive uses of land around Manly, and Bondi seems empty most of the time. Does the PM still use Kirribilli for anything useful ??


Set up a 5 mile exclusion zone, call it good. :)
I wonder what mining billionare Clive Palmer will think about this after his $69B coal project is now out in the open,and will create up too 70,000 new jobs in Queensland,Ijust have to ask Dazz,is this a private company you are talking about,or is it a O-S based set-up ,there is always a fine line between genius and insanity and between determination and stubborness,if this is going to happen then it's been keep very quite just like all the "OIL" that is sitting out there in the back blocks of Queensland,:)..willair..
 
Yes, what will make this even more interesting, and expose how non racist Australia like to think they are, is if the wells are owned by the Chinese.
 
it's been keep very quiet
No doubt willair - see post # 3. Multiply that type of ill informed hysterical reaction by a couple of million - literally, and you can see what the company is up against.

It's a small one man band, Aussie guy - good bloke. Ownership structure is a bit complicated, as they always are, but the mother company is listed on the ASX. Sunfish will get stroppy, so cannot give the code.

I wouldn't be surprised if they do the same as all the big companies do, i.e. get all of the approvals in place and then announce to market to avoid the histrionics.

The Lease covers pretty much the entire NSW coast, from 3km offshore out to the shelf where it drops off.

On seismic and the seabed surveys already conducted, we can see a plethora of huge big pock mark craters where gas has been migrating to surface. Looks like the moon in some respects. Biggest pock mark measured so far is 400m in diameter and about 70m deep.

Can't say too much else, best left for the big chiefs with their carefully constructed official market releases.
 
No doubt willair - see post # 3. Multiply that type of ill informed hysterical reaction by a couple of million - literally, and you can see what the company is up against.

It's a small one man band, Aussie guy - good bloke. Ownership structure is a bit complicated, as they always are, but the mother company is listed on the ASX. Sunfish will get stroppy, so cannot give the code.

I wouldn't be surprised if they do the same as all the big companies do, i.e. get all of the approvals in place and then announce to market to avoid the histrionics.

The Lease covers pretty much the entire NSW coast, from 3km offshore out to the shelf where it drops off.

On seismic and the seabed surveys already conducted, we can see a plethora of huge big pock mark craters where gas has been migrating to surface. Looks like the moon in some respects. Biggest pock mark measured so far is 400m in diameter and about 70m deep.

Can't say too much else, best left for the big chiefs with their carefully constructed official market releases.
Dazz, thanks for the info,that all i need to know,that lease covers a very wide area,it's not that hard to find out about who or what has control in that area,i still have a few dollars in my back pocket to invest in something like this,Sunfish may well already know about it ,btw it's good to see you back,willair..
 
It's a small one man band, Aussie guy - good bloke. Ownership structure is a bit complicated, as they always are, but the mother company is listed on the ASX. Sunfish will get stroppy, so cannot give the code.
well considering a one man band and Australia's lack of savings, % Chinese ownership within 2 years will be interesting. Now, if only Aussies hadn't bid up resi property, they might be able to buy in to something with a cushy cash flow and stellar growth potential.
 
No cashflow unfortunately, it's a pure capital play. If it strikes a substantial commercial deposit, it'll get instantly gobbled up by one of the majors...at a healthy premium no doubt.

Very very high risk venture - fantastic chance if you invest you'll lose every penny, but then if it hits something...well - look out Horatio.

Usual caveats of course, moderate normal people need not apply. Much better odds if you bought a Lotto ticket.
 
It's a small one man band, Aussie guy - good bloke. Ownership structure is a bit complicated, as they always are, but the mother company is listed on the ASX. Sunfish will get stroppy, so cannot give the code.
Why would I mind? (And why would that bother you?) I've been told about it but the code has slipped my mind. A little research would find it I guess. Is this just off Sydney? If it is the same one they are said to have strong indications.

I love scrounging for tips on speccy stocks so I'll keep reading. :D
 
I'm whinging, I would hate to see the beautiful clean blue water we have here and white sand beaches turn into filthy, scummy polluted deserted oil soaked sludge banks.

What are they thinking? The best part of Australia, I know surfers won't be happy for a start.
From a gas well?
 
Found it Daz. Worth having a look?
Up to you Thommo, I reckon so, we jumped in and filled our boots.

Would love to say more, but apparently cannot.

We bought for 30c a pop. I reckon by the time the rig actually gets on location in August it will be well over a dollar. Our strategy will most likely be sell a third of the stock - extract all of our money, and then ride the train for free all the way to end of the line. If they find something it will be close to 15 bucks. As they say "going off like a frog in a sock".

This time last year they were 3c a pop. If I'd bought at that price, I could've grabbed two board seats...oh well...better late than never.
 
Up to you Thommo, I reckon so, we jumped in and filled our boots.

Would love to say more, but apparently cannot.

We bought for 30c a pop. I reckon by the time the rig actually gets on location in August it will be well over a dollar. Our strategy will most likely be sell a third of the stock - extract all of our money, and then ride the train for free all the way to end of the line. If they find something it will be close to 15 bucks. As they say "going off like a frog in a sock".

This time last year they were 3c a pop. If I'd bought at that price, I could've grabbed two board seats...oh well...better late than never.
Is this a coal seam gas company? :p

If so I already have a lot of shares in this company for a while now with a low sp average................
 
I always look at the charts for speccies but doubt conventional TA works. If you wait for "a break above...... " it will take off on some announcement and you will be left wishin'.

Prospectors need a different mindset. You must buy a heap to make it worthwhile but they are thinly traded so you can't set a stoploss or you will take out five lines of bids. You just have to spread your bets a bit and wait.

It IS worth it though. It is terribly satisfying and profitable when you pick a winner. One prospector I spent about the cash costs of buying a property is now worth half a property, clear and unencumbered. (No tenants, no maintenance). :D
 
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