Well its official. There’s been lots of speculation but Tamboran confirmed that they’re going to drill a new well in the area – called Belcoo #1 in Q2 of 2014. So the Gasman is coming to town. Here’s something I wrote what seems a long time ago on the subject.
But what to make of the announcement. Its all about how good value Tamboran are. Frack me it would almost make me want to part with my hard earned dough… well no.. because even if you polish a turd – its still a turd, and there’s already trillions in stranded carbon assets ready to wreak havoc on the markets. Not forgetting a huge problem with Shale itself. (when Internal memos from IHS who write such glowing reports call Shale a Ponzi scheme – then one needs to get worried).
Tamboran’s article looks like a classic case of drilling for money as much as drilling for any gas. And that seems to be the modus operandi of these small companies. Good luck to them – they’ll need more than luck to find any gas here – as I remarked in an earlier post, it would seem that Finavera and Tamboran have differing opinions on gas in the area. There’s also the small problem about the Minister’s answer on BGS criteria.
I think its time for the local community to get inventive. If they really don’t want this industry here, then this is the time to get off the fence now. The reality is that what Tamboran propose would leave one potentially living within 1K of approx 100 gas wells and with nearly 400 in a 3-4K radius. That this isn’t considered a Public Health issue by our Governments should motivate YOU the citizen to do something about it.
Remember too, before we hear drill baby drill, we’ll hear shrill baby shrill. Expect to hear the hard sell soon. The Jobs, The money, the boom, the energy security, it will all be served up, but remember its cold lasagne – looks palatable but you wouldn’t really like it. I’ll leave you with a link to a George Monbiot article published today. Its quite prescient for the day that’s in it.