It's Tassie folks, good things take time to happen down in this part of the world. Remember it's much harder for the drill to work from the bottom of the world.
I just hope they drop that drill head in the sweet spot. I understand now they have much better technology like horizontal drilling and techniques to fracture the line to open things up a bit to release the oil within.
There is a lot of oil in the Tasman sea off the west coast of the North Island here in NZ, and explored for years. Tassie is not that far away and looks like it holds similar formations as to what is being drilled for here in NZ. I see it as being connected as a neighbor field to some of NZ's largest off shore ones.
There has been a company here in the news over the past couple of days that claims they have a big find on the east coast of NZ. http://tvnz.co.nz/view/page/536641/22223... if you go through to the company website in the article there are some interesting clips to watch. I see that it is drilling in shale formations as well. Watch the one where the guy wants to stick a match on the gas coming out of the hole in the ground. The quickest way too singe your eyebrows lol.
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