RE: The Market is Ours To TakeIf the shale gas plays in Quebec work out the economics could be even better . The shale gas wells in the States are costing about 6 million for a 8 or 10 frac well . They get about 10 mmscfd per well and the wells take about 2 months to drill and frac . The actual drilling maybe 15 to 20 days and the rest of the time getting the fraccing . Unfortunately the wells deplete rapidly and after a year the well may be down to 3 mmscfd . But if you had 15 or 20 rigs working there could be a $hitload of gas on stream in 2 or 3 years . And it needs a steady demand , I'm unaware of any storage capacity in Quebec . Like Australia , another great fit . Lots of natgas needing a market .
They'll still need 7 dollar gas to make money though .
Incidently , there is a land grab going on in Europe , from France to Hungary . Its anticipated that there are lots of shale gas plays in Europe . And the big oil nad natgas companies are loking for it bigtime .
regards
G