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Hi Everyone. Long time since I visited here.
Can't believe people still posting.
What is happening with the tenements?
Anyone applied for the EEGC area over the past 4 years??
Has EEGC tried??
What was the EL number??
What ever happened to that CSG mob??
If anyone has the time to reply that would be great.
Thanks.
H.
Hi,
can someone help me out here.
I dumped some dough into Planktos some years ago and never sold.
Around $10k
I just looked into this account recently and noticed name change, consolidation etc, etc.
I now have F... all shares and worth nothing compared to my initial investment.
Can anybody please explain what is going on and where we are at??
Many regards.
H.
Agreed Oily.
But it wouldn't be for exploration, as the Tas oil website states, they are going straight to drilling.
As has been touted before, they have apparently spent $50mill in Exploration and have the Targets ready to be drilled. LOL...
This could be done as you state or confirmation from the Drillers that they have been paid a retainer and that the funds are in Solicitors accounts ready for payment on completion. I don't think they would be able to contract any other driller in Australia otherwise considering the last debacle. It is a more favourable time now to find drillers, as they are currently in a slump due to the current oil price as opposed to US$147.27 it reached on July 11, 2008 which caused a flurry of drilling everywhere and impossible to find Rigs. Then on Sep 11, 2008 Hunt Energy Drill Rig Arrives for preparations in Tasmania to Drill Bellevue #1. On December 23, 2008, WTI crude oil spot price fell to US$30.28 a barrel because of the GFC which is around when the problems began with Smart Win. No wonder why they got scared and reneged on EEGC and tried to take a larger share of EEGC by bending management over a barrel.
Having hindsight, Mal probably should of accepted the cucumber.
You know, an old Greek saying, some people eat a cucumber and feel refreshed while others eat it and feel pain. Get my drift.
Junior oil explorers though in Aus just before they are ready to drill, do a Capital raising. This is why I have a problem with the State Gov's comment.
The State gov's decision to even entertain awarding to an entity involving EEGC again, I believe comes from the Many Tasmanians who want closure and just want the 2 bloody wells drilled. If there is nothing there, every body can just move on.
If they have no intention of stumping up cash up front and are relying on a cap raising after the area is awarded, then maybe a more simpler solution here would be that the Tas Gov awards the licence but stays intimately involved with full Fiduciary powers to control any funds raised via a capital raising and ensure that the bloody wells are drilled.
H.
Personally, I don't believe in the comment below.
"The Tasmanian Government has a duty to consider the financial resources available to a company before issuing an exploration license."
It is restrictive and kills the Entrepreneurial spirit.
There is an argument here that many outfits raised the cash to drill because they had a license to explore. That is how many large outfits in existence now started.
A window of 12 months should be granted and reviewed on a 12monthly basis to begin exploration and drilling if EEGC is involved considering past conduct IMO.
The world has changed since 2008 in finance since the introduction of Basel II.
When applying for a loan now, you practically have to prove that you don't need the money where as before you were assessed of your financial position after you received the money.
This is why rates are going lower because it is getting harder to get the cash as we roll into Basel III.
All this must be taken into account by Gov's and they must apply their own QE.
DYOR.
H.
From Today's Sunday Tasmanian.
Article regarding EEGC.
Enjoy.
H.
http://www.themercury.com.au/news/tasmania/senator-peter-whishwilson-seeks-investor-protection-calling-for-a-probe-into-oil-riches-miner/news-story/e14f78ace9e765861d9a1b0904da7f7c
Senator Peter Whish-Wilson seeks investor protection, calling for a probe into ‘oil riches’ miner
MATT SMITH, State Political Editor, Sunday Tasmanian
August 28, 2016 12:00am
AUSTRALIA’S corporate watchdog has been asked to investigate a new venture wanting to explore for oil and gas in the state’s Central Highlands.
Tasmanian senator Peter Whish-Wilson has written to the Australian Securities and Investments Commission urging it to investigate Tasmanian Oil and Gas and its links with Empire Energy, the company operated by would-be oil baron Malcolm Bendall.
In January, the Sunday Tasmanian revealed a prominent Hobart church leader, Lucas Jacometti, was leading a renewed bid to explore the area previously spruiked by Mr Bendall as having an oil reserve the equivalent of a “rich Arab state”.
Mr Jacometti has since quit the church and his role as director of Tasmanian Oil and Gas.
Mr Bendall has said he was inspired to search for oil after a “vision from God” and it encouraged a raft of mum and dad investors into the resources market.
Mr Bendall announced in January “the formation of Tasmanian Oil and Gas Australia Pty Ltd, which includes EEGC, Alpha Prospects Plc (UK) and Derlite Ltd (Hong Kong) as main shareholders,” in a statement on the Empire Energy website.
Senator Whish-Wilson said Tasmanian Oil and Gas Ltd had previously made significant claims about the oil reserves in Tasmania and talked big about the likelihood of striking it rich for investors.
“However, this talk of riches never turned into reality and I have been contacted by a number of Tasmanians who lost their hard-earned money through investments in this Tasmanian oil dream,” Senator Whish-Wilson said.
“The Tasmanian Government has a duty to consider the financial resources available to a company before issuing an exploration licence.
“Aside from examining this aspect, I have asked ASIC to compel Tasmanian Oil and Gas Ltd to substantiate its claims that it is confident of discovering commercial petroleum and helium.
“If these claims can’t be substantiated, ASIC should issue a public warning notice about the company’s conduct.”
Representatives from Empire Energy and Tasmanian Oil and Gas did not respond to calls from the Sunday Tasmanian yesterday.
Tasmanian Oil and Gas has launched a new website.
“Due to the significant interest by the people of Tasmania in the activities of the company and the shareholders of the participating companies, the directors have resolved that the company will publish and maintain a website,” a statement on the website says.
The State Government has not made a decision on the licence yet despite, for months, saying a decision was imminent.
Just out of Interest,
I was checking the Category 4 Release areas on the gov Website.
This is what came up for ERA 981:
Feature
NAME
ERA981
DETAILS
Details
TENEMENTTYPE
Exploration Release Area
COMMODITY
Category 4
STATUS
Current
AREA
2875 sq km
FILE ID
5898
Interestingly enough, under Status, it used to say Pending.
It now states Current.
Not sure what this means. I have seen on other tenements it states Granted.
The change from pending to current seems interesting IMO.
H.
In the past,
I have been told that the reporter or the person behind the Articles from The Hobart Mercury posts on here quite frequently.
Not sure if it is still the case, but it wouldn't surprise me.
I know many investors from Tassie, and the main consensus is that they want EEGC to get the license and drill the 2 wells at Bellvue and ??(Forgot the other spot).
If there is nothing there, so be it. Closure is all they want and then they can move on. They and I don't really care about any more exploration.
We just want these 2 wells drilled and Mal & Co can piss off and do whatever he likes with his life as far as I am concerned.
Never the less, any news on when the MRT will be letting us know what their decision is or have they already made it??
Cheers.
H.
http://www.themercury.com.au/news/tasmania/oil-man-malcolm-bendall-named-in-panama-papers/news-story/3eaf4c5949e9d49705620b8811977926
Hi Guys,
wow, you are all still here...
Thought this might be of interest.
I made a large investment some time ago also.
Unfortunately, this is how things go in this industry.
Whoever I know that has invested just wants closure and the 2 wells drilled.
If nothing is there so be it.
All the complaining should suck it up and look at the real world.
Go to Wall Street and demand all the Bankers to Jump.
They are the real Criminals.
Good luck.
H.
Oily,
IMO
If the snippets of info have merit,
A Smart Win settled and received Shares
B They want EEGC to Succeed
C EEGC got nothing(no Cash from the settlement)
Then I would believe that EEGC agreed to settle if Smart Win would forward Funds/Finance for drilling 2 or 3 wells.
Smart Wins exit strategy would be to dump the shares while drilling to get their funds back and some more.
This would seem the logical outcome and to end the litigation.
Smart win could walk away with a profit too.
I have been involved in a 5 year litigation, and let me tell you the only ones that win are the Silks. Every phone call or email racks up hundreds of dollars. After such a long time you tend to settle on terms that you never would of considered in the begining. That goes for both parties.
This seems the most logical outcome.
And re ERA 981. Somebody mentioned it has been there for a while. I don't think so. I randomly check every few months and last time I checked it wasn't there.
http://www.mrt.tas.gov.au/portal/tenements-search#_48_INSTANCE_Oz5oj21lLKqG_%3Dhttp%253A%252F%252Fwww.mrt.tas.gov.au%252Fwebdoc2%252Fapp%252Fdefault%252Fera_detail%253Fid%253D5898
Hi Guys
Not sure if this has been posted before but it is on the MRT website.
Can anyone confirm it is EEGC??
ERA 981 Exploration License
ERA Reference ERA981
Title Central Tasmania
Area Final area to be determined
Parts Unknown
Status Pending : The area is being processed and may be varied before release
Product Category(s) Category 4 - Petroleum Products and any other mineral category that may be available within the defined area
Map at link below:
http://www.mrt.tas.gov.au/mrt_maps/app/list/map?bmlayer_name=Topographic&layer_names=Unavailable%20Areas,Mining%20Leases,Category%206%20Exploration%20Licences,Category%205%20Exploration%20Licences,Category%204%20Exploration%20Licences,Category%203%20Exploration%20Licences,Category%202%20Exploration%20Licences,Category%201%20Exploration%20Licences&bbox=414500,5239500,535500,5360500&srs=EPSG%3A28355
H.
What amazes me is that I started reading randomly this forum when there were approximately 1500 posts. There are now nearly 40,000 and I am scratching my head why, why, why??
I have not seen this on any other penny stock around the globe.
Something is not quite right here.
Anyway, everyone has something to say about Mal. I really don't care. My investment is worth nothing compared to what I invested many moons ago.
All the Tasmanian Public want and myself is to see Bellevue and Thunderbolt Drilled just to bring closure. Whether Dry or Wet, it settles our bet.
It's better than investing and no drilling. People just want to know.
If there is a collection from the Smart Win Case, EEGC must stump up the cash to MRT as a Bond to be released to the drillers as progress payments. That is the only way the MRT would Entertain awarding EEGC the license to Drill again. MRT knows Public pressure would force MRT to do this just to bring Closure. It is the only way.
Oh, I heard MB was in town a few weeks ago. Not sure what he was up to but I hear many people want to speak to him.
H.
Just some info in Today's paper on Oil/Gas Exploration in Tassie.
There was a company that got issued a licence last year for Fraccing.
Not Sure if EEGC were interested if they ever reapplied.
Cheers. H
Tasmanian Government extends fracking ban until 2020
BRUCE MOUNSTER
Mercury
February 26, 2015 1:24PM
http://www.themercury.com.au/news/tasmania/tasmanian-government-extends-fracking-ban-until-2020/story-fnj4f7k1-1227239949112
MMmm.
This all seems very interesting.
We have one side touting that Mal signed personal Guarantees,
What about Smart win? Wouldn't of the directors signed Directors Guarantees.
Even if Smart Win is an empty Shell, the Directors would of signed Directors Guarantees.
I doubt Mal would of let them get away with that. You sue the persons, not the company.
Hunt was involved in drilling for other penny juniors on the Mainland. They had problem,s there also. Many accidents and uncompleted wells. Legal issues too.
I doubt a judge and jury would look upon them favourably considering their history in Australia. The only reason why they had work IMO was the lack of available drillers in Australia.
That Rig has a tainted history.
IMO
DYOR
Hi,
If any of you don't mind filling me in with what is happening of late it would be much appreciated.
Noise on the ground locally in Tassie is that EEGC will receive their license again soon.
Green made a big booboo taking it away apparently.
Just filling you guys in with what I heard. Not sure if Legit but sounded solid.
Just some thoughts below if someone could answer without the Narcissism please.
Who is Smart Win? Do they have assets? Is there a money trail?
Or is it just an empty Shell and all litigation is a waste of time?
Cheers,
H.
Just in case you guys haven't seen this.
Petratherm has been awarded the tenement in Tasmania for Conventional and Unconventional oil and Gas. This Tenement is where EEGC used to have Ground.
Interesting!
Link for Announcement available at their website.
http://www.petratherm.com.au/
PETRATHERM LIMITED
ABN 17 106 806 884
Petratherm subsidiary, PetraGas awarded petroleum
exploration licence in Tasmania
Petratherm advises that its wholly owned subsidiary, PetraGas Pty. Ltd., has been
awarded a Petroleum Exploration Licence (EL3/2013) covering approximately
3,900 square kilometres, north of Hobart in central Tasmania (refer Figures 1and 2)
to explore for conventional and unconventional oil and gas.
Petroleum Exploration Licence
This decision by Petratherm to extend into conventional and unconventional oil and gas
exploration leverages our core areas of expertise that include basin geology and deep
drilling (developed from working on engineered geothermal systems) and our knowledge
of the Australian electricity and gas markets.
As part of the licence application process, PetraGas responded to 22 written submissions
from potentially affected landowners and this resulted in some areas being excised from
the final licence area (refer Figure 2).
The exploration program for the first two years of the licence, as outlined in the licence
conditions, is as follows:
Year 1: Review of previous work, modeling and interpretation of existing geophysical
data, field sampling, core collection and analyses, and
Year 2: Gravity and/or magneto-telluric surveys to map basin geology.
Prior to commencing any on ground exploration work, PetraGas will require approval of
that work from Mineral Resources Tasmania (MRT). As part of that approval,
appropriate stakeholder consultation must be undertaken in accordance with MRT’s
regulations and codes of practice.
oily,
quick question if you don't mind..
In the 50's/60's down in Hobart, the streets used to be lined with Lead pipes underground delivering gas to homes via the GasWorks from down the Docks.
I recently renovated a home in NewTown and there was a large run of this lead pipe still in the roof space. It still stunk of Gas in the pipe believe it or not.
Where did they derive that gas from ??
The Hobart Gas Company was formed in 1854 and finished in 1978.
Re MRT.
Sort of the same info I heard.
Apparently there are documents that it was awarded/extended.
Tassie Politics is disgusting IMO.
There is Shait flowing everywhere. Ulterior motives. Corruption. etc, etc.
Corruption is not a Crime if there is no Authority to Police the Politicians who are above the law by using the Acts as their weapons.
Hi,
I have been told that EEGC actually won the Smart Win Case in the US.
What now? What is the settlement? Can they Pay? Can they be forced to pay? Is Smart win still a company? Where are they registered?
Sorry if these questions have been asked and answered but I have not been following what has been happening.
No Smart ass comments. Just facts guys.
Cheers.
H.
Thanks.
H.
Hi Guys.
I want to get into this but I see there are the following codes available for Alpha Bank.
ALPHA:ATH Athens Stock Exchange
ACBA:BER Berlin Stock Exchange
ACB:BER Berlin Stock Exchange
ACB:DUS Dusseldorf Stock Exchange
ACB:FRA Frankfurt Stock Exchange
ACB:DEU German Composite
ACB:MUN Munich Stock Exchange
ACB:STU Stuttgart Stock Exchange
ACBREUR:PAR Paris Stock Exchange
ACBE:LSE London Stock Exchange
ACBD:LSE London Stock Exchange
0OKL:LSE London Stock Exchange
01NX:LSE London Stock Exchange
ALFAE:ATH Athens Stock Exchange
ACBREUR:STO Stockholmsborsen - cash
ALBKF:PNK Grey Market
ALBQY:PNK Grey Market
ALBWF:PNK Grey Market
ALBKY:PKC OTC Pink - Current Information
If I invest in ALBKY on the OTC Pink, is it an official listing by ALPHA from the Athens exchange or just a dummy setup.
There are many codes on the Pinks of Australian ASX codes. The companies in Australia have no idea they even exist. Beats the crap out of me how this works. I once heard these are sometimes set up by financial institutions that have been involved in financing the companies and off load shares owned via deals on other exchanges.
Also, whats the go with the Pink ALNKY market cap?
Is it and all the other exchanges globally market caps added to the Athens code ALPHA , or does the Athens Code take into consideration all the other listings market cap ??
Cheers
Pitts,
I respect your opinion.
I have mine.
Lets see what eventuates.
H.
Sorry Oily,
Wont let you have the last word.
It would be quite easy to establish. 75% of Business's now are actually trading insolvent out there. They Rob Peter to pay Paul every month. They could be Shut down any time but are allowed to trade as they eventually pay their bills and move on but use the system for credit.
Pre GFC, 90% of Business's(Listed and Private) were trading Insolvent but continued expanding and growing because of their access to easy credit. They were borrowing to make their payments. They were also borrowing to pay dividends as they established the growth in their assets they had made by borrowing against it and paying dividends and at the same time spruiking not paying tax to realize the profits and would rather pay a small interest rate. They did not have to establish Income serviceability. Encouraged by Greenspan Also. That system collapsed when the Equity in assets began to reverse. This crafty accounting is frowned upon today and could be called insolvent trading at the time.
This is an area where many cases are coming to fruition soon in the Crts as many contracts were breached through this period.
Camouflaging and making up excuses can only go so far.
Eventually the truth comes out. Out of Crt Settlements are the Norm and encouraged.
Did you hear about the Zenifex case. Their CEO was on TV one day(Mitchell I think) saying we have no Debt.(Crafty Accounting) As soon as the GFC rolled in, they had to declare the debt as facilities were pulled. They had 1 Billion. The SP crashed. There was a crt Case in MLB couple of years ago. Any Share holders that bought in that period and lost made a claim for their realised losses. Zenifex made a out of crt settlement worth Hundreds of millions. I missed out. I did not see the advert until I was tipped about it 1 week after the closing date. If everyone participated it could of been worse for them.I lost around 80k. I had done a 3 month covered call on them at the time. Pricks!!
IMO
DYOR.
"Not included in the timeline but ought to have been:
- 30 May, 2008 Bear Stearns files bankruptcy
The MOU was signed in July in the awareness that all was not well on the world financial scene which would indicate Smart Win had no real concerns about its funding source and its ability to complete the full loan. "
Oily, the whole world didn't stop overnight.
Borrowers and Business's were picked at slowly over a 3 year period. As I said, You are sailing along doing business and think things are fine until you are called on. You then realize the world isn't what it was.
Your every day person was oblivious to all of this unless they were directly involved in the industry.
Later on as is evident in Australia, it fed through to the economy also. Other Countries much earlier.
Oily,
No I am Not.
I don't think you are registering What I said in my earlier post.
SW, because they were contractually bound with EEGC would of made up any excuse through this period to camouflage what was happening on the other side of their business ventures.
The further you go down this path the more desperate you are getting in this debate. It did not start as a debate, I just merely stated what I see as the probable cause due to experience in the sector.
I did say IMO and DYOR.
It may not be the case but I believe otherwise.
You trying to defend and put a stop to this very Highly Probable Scenario is quite disturbing to me.
Anyway,
for the posters who are wondering about Tasmania's current Political Climate and how it may affect EEGC. Here is a good article.
http://www.themercury.com.au/news/tasmania-a-harbinger-of-green-doom/story-fnj3twbb-1226719062856
Cheers,
H.
Cheers.
Oily,
Not only were SW, EEGC affected, but every other business Globally. If the GFC had not raised it's ugly head, EEGC would of been able to raise the Funds on their own without SW.
These Banks knew Basel 2 was coming. They were freaking out. All banks globally were fighting the Fed Reserve since 2005 not to implement it. They believed it never would, but Bernanke wanted to set his mark after Greenspan.
Australian 4 Pillar Banks were the First Globally on 1st January 2008 to implement Basel 2. They were ready because they Are the Feds Slaves. They still had probs but were prepared.
Some Countries were resisting and would not enter. They were forced to eventually as they couldn't do business. Middle Eastern Non US Allied will not enter this Cartel. Russia told them where to go. etc, etc.
Please don't look at this time line. It is what they want the rest of the Globe to read.
Banks where worried and kept it quiet for as long as they could. They began doing banking anomalies with customers over a period of 3 years. They had to be careful to do it slowly and not in 1 hit as you saw the bank runs.
I can send you stuff on this if you are interested. What you are posting is not relevant. Please.
Sorry Oily,
don't agree with you.
Unless you are in business and have lending and deal with finance every day, what I posted before would just sail on by and you wouldn't know it was happening.
Anyone running a business and being involved in financing and leverage would know what I was on about as it affected every one Globally at the time.
It nearly threw me off my block. Anyone in a decent size business that says otherwise I don't believe them. They are lying.
So to me it is very likely that they had Financial Hardship and Camouflaged it by blaming EEGC.
You see, before 2008, banks were lending money to everything. I know a guy who was offered $20mill unsecured loan facility in the US who was a nothing, and Locally ABC learning Centres got a $380 mill unsecured loan facility.
Smart win could of easily got hold of a facility back then and was shut down through 2008/09, especially for drilling in Tasmania!! in an unproven basin.
Finance companies these days need a minimum 90% probability of proven resource before they finance it.
As all this began to eventuate, you lose faith in the system and access to cash so the economy begins immediately to Contract.
IMO
DYOR
H
IMO,
in business you have plans. You make investments.Your plotting along.
During the GFC, you were plotting along doing business and credit lines that were not in use (hadn't been drawn on) were frozen. Commercial loans that are assessed and rolled over every 3 or 5 Years were called in.
Banks were trying to bring in their Debt levels as they had overstretched their Tier 1 Capital Ratio's. Reason being is that they were never checked. They just kept on inventing money for loans based on their Reserves.
(Just in case any of you don't understand the Fractional Reserve Banking System: Your Money at the bank is not paid 3% interest to you and lent for 6% to someone else. It is kept as a Reserve to the Bank. When their is demand for a Loan, then money is created in the Digital Domain and the loan is issued. Effectively, it allows a bank to create a $1 million dollar loan with your $100k cash at bank. So they are receiving 6% interest on $1mill while paying you 3% on your $100k. That is why during the height of the GFC, some people were negotiating a higher interest rate for their cash at bank than what you could borrow it for. Banks were careful not to publicize this but was evident of the banks trying to clean up their books. Reason this happened is that during the GFC, all banks were being audited for their Tier 1 and 2 Capital Ratio's. Anyway, the GFC was brought on deliberately. The existing system for leveraging was BASEL 1. 1st January 2008, BASEL 2 began it's roll out and freaked out all the banks which began them to contract their lending so they would not be called broke. They over leveraged their ratios during 2000's when they were not being checked. Goldman Sachs and JP Morgan have leveraged their ratios by 100 times but they would never be checked as they are owners of the Federal Reserve. Basel 2 introduced different ratios for different loans as opposed to Basel 1 which had a flat ratio. Also the ratios in 2 are not fixed. They are floating which is linked to the product, economy and the borrower. In other words. Under Basel 2 and the new Basel 3 coming, It has created a form of financial racism.
Before under Basel 1, EG, a normal home borrower needed their expenses to be under 33% of their Gross income and Rent. If some one had it at 20%, they would be looked at the same as someone on 30%.
Now, they can create more money to lend to the customer at 20% and offer them a discount Rate as oppose to the 30% lender. Hense the reason Banks have become more strict lending so they could tell potential customers to piss off when it suits them. Eventually, these customers run out and they start getting a little more lax for business which is only starting now.
I believe the next boom in credit will be larger than before as they are also going to allow more lending if the economy improves, but also a reason why Gov's have been told to control the expansion of economies. In other words, the Gov's are going to have a component in doing the banks work.
I think you can all see where this is going. It wasn't Labors fault in contracting the economy and it wont be Liberals who will expand it at will. They are slave to the Banking Oligarchy.
So are we.)
Smart Win could of made their investment then things started turning pear shaped on the other end.
That's when they could of tried to reneg and pulled the plug and at the same time trying to find excuses to find a back door.
Going through anyone's financials would uncover financial instability and hardship at the time.
I saw this happen throughout Australia.
Now if EEGC's contracts were tight and SW tried to pull out because of financial Hardship at the time and broke EEGC's Contractual agreement, I'm afraid SW should pull the plug and do a settlement out of court or their gone as EEGC could also claim their current financial Hardship due to the broken contractual agreement.
Many of these cases are coming to fruition through the Crts now.
IMO
DYOR.
H.
Thanks for taking the time to explain guys.
I have been busy putting out my own fires to try and decipher what is going on here.
Nevertheless, I believe from experience that there is more than one way to skin a cat.
Where there's a will there's a way.
Cheers,
H.
Sorry,
can someone explain to me in plain English what exactly happened at the Crt case and what the consequences were for EEGC.
I am quite busy and don't seem to be able to join the dots here.
Cheers,
H.
MMmmmm.
No Show.
I wouldn't be surprised they re apply for the license under another entity that is not in receivership.
Clean Slate.
Obviously taking a punt that there won't be any competition for the license.
Oily, would their EL14/2009 allow them to exploit what Petragas are doing with Unconventional exploration?? Would it have to be singled out like CSG/CBM is and is therfore not included in EL14/2009 ??
It doesn't surprise me that a fresh application to include exploitation of Shale Oil'n'Gas is made. They are all under Cat 4 but the MRT has singled out CSG before and Petragas's application made it clear what they are after.
When it comes to anything of National Security,
Greens have no hope.
The powers that be can shut them or anyone down.
No media coverage, nothing.
The Noisy Minority will not win with their false propaganda on this one.
If any good standing Australian gives one vote to a Green Party member, they are guilty of Treason IMO as the current Green Regime are Fanatical Economic Terrorists.
I haven't seen one of them who are elected to give up their Perks from being chauffeured around in Gas Guzzling V8's.
Energy Companies Love them.
Especially when they stopped the Franklin Dam. They played right into the Corporations plans. No Clean Green Hydro Energy for anyone. You can thank the Greens for Tasmania having to now Import Dirty Power via the Bass link from Coal Fire Plants from Victoria.
I know many Green Voters who are voting Liberal now. They have been let down by their own party. Brown saw the writing on the wall and did a runner.
As for EEGC.
When we have a majority Liberal Gov Nationally and on a State level, I don't see any problems for EEGC if they are still kicking.
More on our Neighbours
LOL.... Ha Ha Ha Ha
Cannot wait for the election to listen to their propaganda after they are decimated!
LOLOLOL....
http://www.themercury.com.au/news/tasmania/greens-lose-vote-to-introduce-a-moratorium-on-fracking/story-fnj4f7k1-1226706169520
Greens lose vote to introduce a moratorium on fracking
MATT SMITH
Mercury
August 29, 2013 7:01AM
THE Tasmanian Greens' push for a moratorium on the mining practice of fracking has been voted down by Labor and the Liberals.
Greens MP Tim Morris said his party would continue to work with concerned landowners, businesses and communities to protect the best interests of Tasmania's environmental and economic future.
But Deputy Premier Bryan Green said the Greens were campaigning on hypotheticals.
South Australian energy company Petratherm's subsidiary PetraGas has applied for a licence to explore 3900sq km across the Central Highlands and Southern Midlands for shale oil and gas.
The procedure of fracking involves the fracturing of rocks by injecting fluid into cracks to force them open.
Since residents became aware of the application last month after a Tasmanian Greens letter drop, concerns have been aired about the potential impacts on the community and the environment.
Mr Green said an exploration licence did not give companies the green light to undertake fracking practices.
"Nobody is misleading anybody the application does not involve fracking," he said.
"In the future, if there was a discovery, it is a debate that would be had then as to whether the EPA and others believe it is appropriate, acceptable or whatever just as every mining operation is approved or disapproved."
"I understand what the member is doing, whipping up fear on this issue, but I will not be distracted from making sure that the processes of exploration in our state are given every opportunity."
Mr Morris said the rate of drill holes fracturing is 6 per cent in the first year.
"Even one shaft fracturing is enough to disrupt or contaminate the water table for a region," he said.
"The Greens are not happy to even risk one farm to appease this venture," he said.
Oily,
another article here.
Wow, The greens are really at scaremongering now.
If, I say If, EEGC were to discover anything. What a Shait fight MB and co would have on their hands.
Elections , please come...
http://www.themercury.com.au/article/2013/08/25/386336_todays-news.html
Frack stoush looms on high
ROGER HANSON and BLAIR RICHARDS | August 25, 2013 12.01am
CONCERN is rising at the impact shale oil mining will have in the state's highlands, after the company involved admitted fracking would be used for extraction.
South Australian energy company Petratherm's subsidiary PetraGas has applied for a licence to explore 3900sq km across the Central Highlands and Southern Midlands for shale oil and gas.
Fracking fractures rocks by injecting fluid into cracks to force them further open.
Since residents became aware of the application in July after a Tasmanian Greens letter drop, concerns have been aired about the potential impacts on the community and the environment.
The Greens said landholders were not being told all the facts about possible shale oil and gas fracking in the region.
A Facebook page set up by Oatlands resident Monika Keane -- Stop Unconventional Mining Tasmania -- has attracted 575 likes and a petition to ban fracking in Tasmania has attracted 610 signatures.
Brett Hall, who has a cattle and sheep property at Lemont, east of Oatlands, said the proposed exploration area included four of the seven oldest continuously owned family farms in Australia.
Mr Hall said the Government had a conflict of interest in approving the mine because it reaped large royalties.
"The most valuable thing that I own is my farm. I act as a caretaker for future generations. How can I with any conscience accept shale gas mining when I know very well that this activity will not improve the land but probably damage it?" he said.
"Why would we put a proven sustainable industry at risk for the short-term economic gain of government and mining companies?"
PetraGas managing director Terry Kallis said the proposal would have minimal environmental impact.
"We use water to fracture the rock. It is a process used for generations," Mr Kallis said. "It is different to the process of hydraulic stimulation or fracking used interstate."
State Director of Mines Kim Creak said that PetraGas was seeking an exploration licence to look for shale oil prospects and did not have any plans to look for coal seam gas.
Greens member for Lyons Tim Morris said the Greens were concerned about the lack of rights held by landowners to refuse mining companies permission to do exploration and extraction on their land.
PetraGas says if granted a licence no drilling or well testing would be done within four years. Twenty-two objections have been lodged.
Oily,
considering I have been limited to one post every 24hr/s,
I suggest you help remove what has been done to me by you guys if you want me to comment on questions.
There are around 12 Rigs onshore Australia available for hire that are not owned by the Majors and I believe only 4 or 5 of them COULD drill that deep efficiently and Charge $5-10 mill a hole. H3 is not one of them. Then we have a problem of decent Drillers available with Deep hole drilling expertise outside of Majors crews in Australia. Most of Australia's Drilling experience is Off Shore.
Ahh yes, the Century CTP debacle. I wasn't referring to that one re Industrial Espionage but very interesting events there. The final figure and deal was not made public. There was some other negotiating there due to confidentiality documents signed by both parties. Century stuffed 2 holes in 2 locations for CTP(J and S1). The Monkey board accident at S1 was Disgraceful and Unacceptable. The previous hole (J) had drilling mud stuck in the Pay Zone for 2 weeks. The pay zone is known to be very very sensitive there. That's when JH announced Oil Flow Likely. According to the core hole samples it would of flown. Santos Next door in the Merinnee knows this and abandoned many wells when the drilling mud was not removed immediately when they entered the Pay Zone. They would sometimes come back to the hole 6 months later to see if the PayZone flushed out all the Gunk. Santos since discovering this problem began using pressurized Air/Gas rigs.
CTP's latest well was at S2. A Horizontal. It was a disaster also. The Horizontal only went 200m of the proposed 1000m into the horizontal and apparently only stayed in the Payzone for 20-30m. The drilling was abandoned because they went too much of an angle from the kick off into the Horizontal and too much pressure was being put onto the pipe and the directional drill bit was prehistoric. They had to pull out so the bit doesn't get stuck.
They are flowing 500BOPD without a down hole pump, no fraccing and an absolute disaster. It's amazing it flows for an unconventional well!!!!!
MMm. Too coincidental for me
As you can see, all the rigs IMO available in Australia for Hire(Not Rigs owned by Majors) are absolute Rubbish. The amounts they are charging is Ridiculous.
Due to their success rate for deep wells, the whole process shouldn't be more than AU$3-4 mill a hole complete. Anything more is robbery due to a monopoly of Shait Rigs.
DYOR.
P.S. Just because Party A takes Party B to the Crts does not Mean Party A is innocent.
Quite the Contrary. I have witnessed many times the Guilty Party taking the innocent party to the Crts for future risk management.
That comment by you is Ridiculous.
I am not saying that Hunt is guilty,
but
I have invested in a few penny Juniors the past 5 years and let me tell you that Industrial Espionage is rife in Australian Drilling IMO.
In actual fact one of my investments successfully sued a drilling outfit for negligence and had an out of crt settlement for a few million.
Drilling Companies in Australia have a few rigs going. It wouldn't surprise me if a couple of their rigs are not up to standard or Spec.
Considering the Labor Gov is currently in power and has been for many years, the Unions are rife. They have been bullying and pushing their weight around without care or consequences. I have first handed witnessed them support an associates employee after becoming a member for only 2 days. He was guilty but a Rat Bag also. My associates were threatened by this union Rep to pay up his claim for a couple k or they will have strikes on a few of their current jobs at other sites which could cost them $200-$300k. He later apologized but said he had to support a member!!
Now I am not saying that the Unions are corrupt, but there definitely is representatives in any outfit that are bad seeds.
It wouldn't take much in Australia to get someone like this to help influence to approve your Rig fit for drilling.
Then while drilling have an accident so you don't drill full depth etc, etc. This is rife in Australia IMO. The Drilling Outfits receive millions while the risk is on the customer.
As I said, I have seen it happen on an investment and the drilling Contractor settled out of Crt.
I am not saying anyone is guilty, just stating my opinion as I have seen this type of behavior before.
From what I am reading, this rig definitely needed work done to it. How it got it's approval to drill at those depths is beyond me. If it was a Tasmanian Authority, they wouldn't have any Idea what they were doing. They have never seen a Rig like this onshore Tasmania. If anything, they would be guilty also and should be part of a Claim if any.
Didn't the hole at Westwood deviate and drilling stopped ??
That hole was strategically selected also as it was clear of thick Dolerite and still didn't drill full depth.
Bellevue has heaps of Dolerite. Would of been interesting.
This is a huge can of worms. If I was Hunt I would settle out of crt. It does not mean Guilt, it just could get very messy considering there have been other incidence in Australia which are similar.
IMO, DYOR.
Seriously, I cannot wait for the State Election next year to rid ourselves of this GREEN Cancer. They have absolutely screwed the Tasmanian Economy!!!
http://www.themercury.com.au/article/2013/08/08/385214_tasmania-news.html
Heat on gas mine bid
BRUCE MOUNSTER | August 08, 2013 12.01am
FARMERS in central Tasmania are increasingly worried about plans by a South Australian company to drill for shale oil and gas in the region.
PetraGas managing director Terry Kallis has assured that problems caused by the controversial coal seam gas industry in NSW and Queensland will not be repeated in Tasmania.
Coal seam gas is extracted by drilling bores into gas reservoirs and injecting a high pressure mix of water, sand and chemicals, which forces the trapped gas to the surface.
Critics say the process, also known as fracking, can contaminate watertables, a claim the CSG industry denies.
The fears have sparked confrontations on the mainland, where gas exploration companies have been refused access to properties by angry farmers.
PetraGas maintains that its Tasmanian operation will be different to CSG production.
Mr Kallis said extractions from Tasmanian shale deposits would involve fracking, but would occur a lot deeper than other CSG sites as much as 1km underground and would pose no risk to aquifers.
About 60 concerned residents in the Oatlands area who attended a public meeting last week are yet to be convinced of the merits of having an oil and gas industry in their backyard.
Monika Keane, operator of Oatlands Antiques & Collectables, said Greens MP Tim Morris had made the district aware of PetraGas's plan to apply for a petroleum exploration licence by letter-drop on July 24.
Mrs Keane called the public meeting to find out more. It included Mr Morris and a representative from the Lock the Gate alliance, a national anti-coal seam gas lobby group, but a PetraGas representative was not available to answer questions.
Mrs Keane said by the end of Friday's meeting, the mood was overwhelmingly negative.
Mr Kallis said PetraGas was prepared to talk with stakeholders but did not want to get tangled up in politics.
Mrs Keane said questions had been sent to PetraGas on its procedures and environmental safeguards.
Last month the company told the ASX that it hoped to start exploring once a licence was granted, as soon as next month.
Its proposed 3900sq km tenement extends from the Oatlands and Orielton areas, to Bothwell, Hamilton and Westerway.
From what I recall,
Bellevue was given the go ahead to drill.
Spaulding was contracted in and drilled the first few hundred feet, installed the collar etc, etc.
Hunt the arrived and demanded payment of the remaining monies to begin after they had installed the rig etc, etc.
How much was Spaulding paid.
How much did Hunt receive to arrive and set up at Bellevue.
I am sure none of this was done for free.
All Hunt were asking for was another mill. EEGC would of raised the rest from us investors from the placement as the drill bit was turning. Well, that was the plan.
The Problem with the eagles come later on in the year when they nest.
Not Then, not when the drilling was to occur.
So much for the eagles though. I hear that a Wind Farm has been approved near by.
Anything I missed ??
There is one thing I do know.
The Greens in Tasmania are an organized bunch or Economic Anarchists.
They have evolved into Extremists and border on Fascism. If Hitler were still alive today he would of been proud of them.
The major political Parties in Australia have actually taken on all of the Greens Initiatives over the years but the Greens as I mentioned earlier have evolved into Fanatical Extremists just to stay different.
They are here on this Forum and would do anything behind the scenes to help bring down any Mining or Exploration company.
I have witnessed this and also in the Development sector.
I have been told a Troll from this forum actually tipped off the following story.
Below is an Article from Yesterday's Hobart Mercury. I have typed it out as I could not find it on the Net.
Very relevant to EEGC as their Tenement neighbors EEGC's.
They Talk about Fraccing. I disagree. They first need to get the Core results, analyze the formations oil content and porosity.
If they encounter Natural Fractures, the way the grain is running in the source rock will depend how and if they need to fracc, etc, etc. Horizontal drilling is the Norm in the USA for unconventional Wells and cheap. It is new in Australia and can cost anywhere between 8-12 mill. A 1 km Horizontal may not need Fraccing. Depends on the rock and Natural Fractures. Even if it does need some Fraccing, it is way too deep to affect any water Aquifers and Biodegradable additives are used now. There is also the availability of LNG and Pressurized Gas Fraccing.
Greens alarm at fracking plan Friday July 19, 2013 PG21
Miner ready for gas row
BRUCE MOUNSTER
A SOUTH Australian company is hoping it can strike oil or gas beneath large areas of the Tasmanian Midlands, Derwent Valley and Coal Valley.
Petragas this week announced it would seek permission from the State Government to search for underground shale oil and gas.
Its proposed tenement extends from the Oatlands and Orielton areas, to Bothwell, Hamilton and Westerway.
Managing Director Terry Kallis said he hoped exploration could begin as soon as an exploration license had been granted in two or three months.
Mr Kallis said the Company-a subsidiary of ASX-listed Petrotherm, a developer of geothermal energy- would need to answer tough questions from farmers, who would have been aware of the coal seam gas furore in Queensland and NSW.
Farmers in those states have been concerned about contamination or draining of aquifers caused by a hydraulic fracturing or fracking technique used for underground gas extraction.
Mr Kallis said any extractions from Tasmanian shale deposits would involve fracking, but it would be a lot deeper - as deep as 1km - compared to coal seam gas extraction, and would not pose risks to aquifers.
Mr Kallis said the company was prepared to discuss the issues with the local community. He said he had invited Greens mining spokesman Paul O'Halloran to talk about his company plans.
"We are determined to be very open and transparent," he said.
Mr Kallis said his company's next step would be a two-year non-invasive exploration process, leading to a decision on a continuation of exploration using drilling rigs.
He said if oil or gas were found the economic benefits to Southern Tasmania would be significant.
Gas could be used for local power generation to boost Tasmania's energy security, or funneled into the Tasmanian gas pipeline that is connected to Victoria.
Mr O'Halloran, a trained geologist, said he would talk to Mr Kallis about extraction procedures.
"They might convince me, but if it is anything like NSW, there is no way in a million years that we would support it,"he said.
"Alarm bells ring for me as soon as I hear the word fracking."
Mr O'Halloran said he expected drilling to have a major impact on farm paddocks.
CrazyJogger,
Oily has a point. All info attained after land is relinquished or tenements are expired becomes the property of MRT or any other Mineral jurisdiction in Australia and then available for the public. It is the deal the Gov does with any suitors. Many juniors have gone over old seismics and data from relinquished land and seen anomalies that were missed because new technology and the oil price has now unlocked what was previously un viable.
I don't believe MB would of released anything to MRT if it was of significance and especially after he was trying to get the land back. Rather than do that he would more than likely tout around those Billion dollar valuations by RPS or whateva to get MRT to hand back the tenements.
Back to Petratherm. Yes, this is out of their normal play.
But,
They are being courted by the $1.7Billion Company Beach energy in a JV. There are rumors on PTR Aussie Stock Forums already that Beach is behind this.
http://www.beachenergy.com.au/IRM/content/default.aspx
Their involvement with Petratherm in the PR below.
They are currently heavily involved in exploring Unconventional Oil&Gas in Central Australia also. There is a Shait load of Shale plays in Central Australia and currently on the cusp of a similar boom that is taking the USA by storm, but the problem is it's in the middle of a Large Baron desert and infrastructure and Ports to deliver to Asia is a long long way away. Only Santos have some pipelines which could handle some extra capacity to Alice and Darwin but not what is on offer in Central Oz. If there is a serious play in Tasmania, the location,infrastructure, Duke pipeline etc is perfect. No problem getting workers in these proposed locations either. Considering Tasmania's green groups and their vocal minority(including some inn this very forum), I would be using a nobody firm like Petratherm(PetraGas) to have a go and see if any Fraccing would be allowed. Anyway, There is no need now for the dirty Fraccing used before with Millions of litres of water with Chemicals. They use liquified LNG now which converts straight back into gas and collected again with Biodegradable ingredients. But they may not need fraccing. If they drill say 1 or 2 km horizontally there may be enough fractures encountered to get decent flows and then add you down hole pumps. Presto.
Beach or anyone else would be very careful of any bad publicity from within Tasmania. The Greens here are dirty and have brought down major corporations like Guns by publicly threatening Financial institutions from financing them.
Hopefully interesting times ahead for Tassie.
Watch this space.
I wouldn't mind my 1 a day restriction removed.
PETRATHERM BOLSTERED BY $13 MILLION GRANT FOR PARALANA GEOTHERMAL PROJECT
Petratherm is set to ramp up activities to develop geothermal energy in Australia after being awarded a new $13 million grant from the Federal Government.
Announced today by the Australian Renewable Energy Agency (ARENA) as part of its Emerging Renewables Program (ERP), the grant will underpin the next stage of works at the Paralana geothermal energy project in South Australia’s Far North, which Petratherm is currently developing with joint venture partner Beach Energy.
The next stage of works includes drilling of the project’s second deep well – Paralana 3 – a producer well into the hot rock reservoir created around the existing Paralana 2 deep well. Together the wells will provide a circulation loop through the hot rock to enable commercial production of geothermal power to begin.
Petratherm Managing Director Terry Kallis says the funding announcement is a shot in the arm for the company and provides a major boost to the Paralana project as it draws closer to commercialisation.
“We are absolutely delighted with the grant and also buoyed by the Federal Government’s endorsement of the Paralana project which has enormous potential as part of Australia’s clean energy future,” said Mr Kallis.
“We have budgeted $26 million for the next stage of works at Paralana, so this $13 million grant will effectively finance half the project costs.
“It’s a massive boost for the entire project and an important vote of confidence by the Government in Petratherm’s capabilities and the geothermal energy sector in general.”
The ERP grant has been provided to Petratherm on a matching funding basis and following agreement to adjust two existing grants.
In receiving the ERP grant, Petratherm has agreed to relinquish $2.8 million remaining from its $7 million Geothermal Drilling Program (GDP) grant, while its $62.8 million Renewable Energy Demonstration Program (REDP) grant for a 30MW project has been varied to $24.5 million for a 7MW project.
The changes to the existing grants have been implemented to ensure no crossover with the new ERP grant and to reflect the latest information on project costs.
Mr Kallis is pleased with the outcome and is looking forward to commencing the next stage of works at Paralana later this year.
“The next stage of works will involve the drilling of a second deep well and the completion of a deep geothermal reservoir at approximately 3.8km depth that connects the two wells with the ultimate aim of demonstrating commercial flows,” he said.
“If successful, we’ll be able to trigger our REDP grant monies which will fund one-third of our initial 3.5MW pilot plant.
“Significantly, once our pilot plant is operational we’ll be able to start generating regular revenue from the project which we’re obviously very excited about too.”
Additional information about this announcement is available in an Australian Securities Exchange release issued by Petratherm today (see www.asx.com.au).
Oily,
What are you on about ??
Petratherm actually has some JV with Beach Energy with other projects. You just don't know where this is heading.
PTR - Petratherm Announces Tasmanian Licence Application
Petratherm advised that its wholly owned subsidiary, PetraGas, has applied for a Petroleum Exploration Licence (EL3/2013) covering approximately 3,900sqkm north of Hobart in central Tasmania, to explore for shale oil and gas. PetraGas will arrange to meet with key stakeholders and the local community to ensure that a comprehensive two-way communication process is established from the outset.
http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=PTR&timeframe=D&period=W
Below current MRT Cat 4 Tenements on Land in Tasmania.
Licence EL3/2013 - 3868 sq km/blocks
Status: Application
Holder: Petragas Limited
Locality: Kempton
Product Category(s): Category 4 - Petroleum Products
Licence EL14/2009 - 3108 sq km/blocks
Status: Granted (Decision to refuse extension of term under appeal)
Holder: Great South Land Minerals Ltd.
Locality: Central Tasmania
Product Category(s): Category 4 - Petroleum Products
Licence EL45/2011 - 1406 sq km/blocks
Status: Application
Holder: Terra Tasmania Resources Pty Ltd
Locality: South East Tasmania
Product Category(s): Category 4 - Petroleum Products
Licence EL30/2011 - 4850 sq km/blocks
Status: Granted
Holder: Terra Tasmania Resources Pty Ltd
Locality: Campbell Town
Product Category(s): Category 4 - Petroleum Product
Licence SEL5/2005 - 6885 sq km/blocks
Status: Granted
Holder: Overseas Energy Holdings Limited
Locality: Northern Tasmania
Product Category(s): Category 4 - Petroleum Products
We will see what they are after.