RE: UPDATE 1-Turkey finds wider evidence of shale Gas is currently bought and sold in three distinct global markets—North America, Europe and Asia—and prices differ widely between the three. In deregulated North America, with a competitive market and plenty of shale gas to augment conventional supplies, prices are low. In Asia, where gas is largely traded using a system of long-term contracts tied to the price of oil, prices are high. Europe sits in between: prices at the moment are around $4 per million btu in America, $8 in continental Europe and $11 in Asia (1m btu is about 300 kilowatt-hours).
So ASIA gives you almost 3 times the return on NAT GAS as compared to North American shale gas .
If the shale gas producers in NA are making money at those prices, then the same technology used in turkey will provide huge returns.
Turkey likely one of the best jurisdictions right now for explorers, as was highlighted by Keith Schaefer's latest articles, due to the tax regime and speedy processes to get exploration rights etc.
China is building 6 LNG terminals as we speak to help supply their needs of NAT GAS and also have a big pipeline from Turkmenistan to help augment their need for energy.
As we can see Turkey is in the sweetspot between Europe and Asia. AEE is postioned very nicely there with over a million net acres in primetime Dadas Shale.
Currently at 3 cents they are trading at about their cash in the bank, most of that reserved for shale exploration in Turkey. After the two dusters , they are getting no value for their lands.
I expect to see JVs and farmins involving Anatolia energy in the near future.