J-Rhino. The Shale oil/gas play in this part of Australia is quite similar to equivalent plays that have been so hot in the US for the past few years. There has been a lot of buzz on this in the Cooper basin since Beach has recently put a few of these tests on production mainly for gas, over the past few months.
Here is Beach's last months Drilling Report showing what I mean.
As in the US, it does take some new and expensive "fracking" techniques, but is definitely something that could be very big a few years out.
The shale play is at a slightly deeper level by maybe a thousand feet the the conventional oil zones in the area. I had been told that at least one of the first wells in the initial 3 well set has budgeted and will be extended to "take a look" at the shale. Since HENC is so conservative, at no time have they ever attempted to even estimate the shale potential. But as the "buzz" accelerates in AU for Shale production, I don't see how HENC shares will not start to show some sizzle for this.
As you can see from this image from the Linc article, Linc's "discovery" is not really that far from HENC's PEL 112.
I have added an overlay text in red of "PEL 112" to show the exact location of HENC's southernmost 600,000 acre concession.
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