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Wednesday, 11 April 2012

image for Aceh quakes trigger massive gas bubble in Chevron's Barrow Island Gorgon project
Latest estimates now reckon at least 400 trillion cubic feet of natural gas will be farmed

Indonesia - Two huge shocks that rattled the quake-torn province of Aceh, Indonesia this morning may have dislodged vast sub-oceanic reserves of trapped natural gas off the coast of Western Australia according to reports.

The Carnarvon Basin gas field is operated by Chevron which had been confidently expecting a payload yield of 40 trillion cubic feet of natural gas.

That figure may now be dwarfed thanks to the two strong Indonesian rattlers of 8.6 and 8.2 magnitude respectively, centred some 33km beneath the ocean over 430 km from Aceh Province.

The quakes' ripple-effect shock path is believed to have burrowed deep into sub-ocean furrows that lead to the Barrow Island field according to oil and gas sources in Perth, Western Australia.

"You can forget that 40 trillion cu ft figure," BigOilShagger.con sources explained this afternoon, "the likely volume of extractable natural gas may now exceed 400 trillion."

Project managers Chevron had calculated their wells would be in production until at least 2074 at the start of upstream activities in 2010.

Today's new development means the gas could be tappable until at least 2180 - something that Chevron stockholders will doubtlessly appreciate.

The company's share price rocketed on the news today nearly doubling common stock values.

Expect a full statement on these ground breaking developments shortly.

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