I am not sure of what exactly was shown in the seismic data results, but I am disappointed in Hess's actions. I would have expected that "if" the seismic results were as good as we hoped - then Hess would have grabbed the opportunity and worried about getting another JV signed up whenever they could. All that being said - who knows what the politics and boardroom antics had to play in the final decision.

Here is an article I found off the Petrofrontier Stockhouse bullboard that has a very nice map included. I recently picked up what appear to be some fairly cheap Petrofrontier shares as they have been working on the Georgiana basin with Statoil to the south of the Beetaloo and signed a similar kind of deal whereby Petrofrontier doesn't have to spend a penny over the next few years as Statoil proves up the play. The map seems to indicate that the Beetaloo has the strongest potential reserves of any of the non-conventional basin centered plays in Australia, except the Canning which is a much larger basin overall. Hess management maybe missed reading this article last week!!!

http://www.theage.com.au/business/windfall-seen-in-shale-oil-and-gas-20130611-2o24a.html