Northwest Carboniferous Basin Natural Gas Project Engineers Ireland North-West Region
Presented By Richard Moorman, CEO Lisa Rollins, Director of Corporate Communications
Disclaimer This presentation contains certain statements which may constitute "forward-looking statements.” Such statements are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward-looking statements. No representation or warranty, express or implied, is made by Tamboran Resources Pty Ltd that the material contained in this presentation will be achieved or prove to be correct. Specifically, references to “gas in place”, or “GIP”, refer to estimates of unrisked, unproven resource potential, based on parameters derived from existing well data and rock sample descriptions, and general literature, and should be considered as “speculative.” Except for statutory liability which cannot be excluded, each of Tamboran Resources Pty Ltd, its officers, employees and advisers expressly disclaims any responsibility for the accuracy or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. Tamboran Resources Pty Ltd accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish the person with any further information. Investment in Tamboran Resources Pty Ltd should be considered speculative.
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Company Overview •
World-class global unconventional oil and gas exploration and development
•
Management team with significant expertise in most US and Canada basins as well as many global basins
•
Safe and responsible development, utilising advanced proven technologies to minimise environmental impacts
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A vision to deliver unconventional resources worldwide, bringing: – Meaningful employment to residents – Commercial activity to local businesses – Reduced energy costs and heightened energy security to entire nations – Substantial revenues to Governments 3
Tamboran’s Global Interests NW Carboniferous Basin Northern Ireland and Ireland 0.4 million acres
Tamboran holds permits and applications for over 27 million acres of rights prospective for unconventional oil and gas
Gemsbok Basin, Botswana 13.2 million acres
Ngalia Basin 3.6 million acres
Beetaloo & McArthur Basins 6.3 million acres
Pedirka Basin 3.8 million acres 4
Leadership
Patrick Elliott Chairman
Richard Lane Deputy Chairman
Richard Moorman CEO
Resource Financier
Chairman, CEO, Founder of Vitruvian Exploration
Previously with
Previously with Eastern Star Gold Fields Morgan Grenfell
Southwestern Energy VP at Leor Energy LLC
Previously President of Southwestern Energy (NYSE:SWN) 1998 to 2008
Unconventional Equity Specialist (Capital One)
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Management Who KNOW Early Shale Basin Development
Dan Jarvie EVP, Global Geochemist
Tom Andrews VP Geology & Geophysics
Advisor to Core Laboratories
Previously with Talisman Energy
Basin Experience Dan has worked on most unconventional basins in the world
Basin Experience Tom has worked on most unconventional basins in North America
Dr. Basim Faraj VP New Ventures Previously with Questerre Talisman Energy EOG Basin Experience Most unconventional basins in North America and Australia
Lisa Rollins Director, Corporate Communications
Previously Senior Communications Advisor for the Canadian Society For Unconventional Resources 6
Management With the Right Experience
Tamboran Unconventional Experience (Where Our Managers Have Worked)
A capable team with significant global early stage experience to accelerate opportunities and reduce risk • 12 full-time • 10 part-time Our Team Has Also Worked On Unconventional Plays in Poland, Australia, Argentina, France, Germany, UK, Mexico, Tunisia, Morocco, Japan, Jordan and China 7
Total Project Recoverable Gas Estimates Avg. Gross Thickness (ft)
OGIP (Tcf)
1,476’
10.7 to 21.3
15%
1.6 to 3.2
656’
0.8 to 1.6
10%
0.1 to 0.2
2,132’
11.5 to 22.9
Dowra Sandstone 100 to 200
110’
1.6 to 3.2
50%
0.8 to 1.6
Mullaghmore S/S 50 to 100
125’
0.4 to 0.7
30%
0.1 to 0.2
Total Sandstones
235’
2.0 to 3.9
0.9 to 1.8
Total Shales + S/S
2,367’
13.5 to 26.8
2.6 to 5.2
Formation
Acres (000’s)
Bundoran Shale 100 to 200 Benbulben Shale
25 to 50
Total Shales
Recovery Recoverable Factor Gas (Tcf)
1.7 to 3.4
Source: Tamboran Resources Internal Estimates 8
Ireland and Northern Ireland Update Project Information
Northern Ireland
Ireland
Potential Investment
Up to £6 Billion
Up to €7 Billion
Direct Employment by 2025
600 local jobs
600 local jobs
Employment (Person-Years)
14,000
13,700
Estimated Recoverable Resource Potential
2.2 Tcf
2.2 Tcf
Est. Natural Gas Consumption
120 MMcf/d
500 MMcf/d
Years of Current Consumption
50
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Potential Tax Revenues
Up to £6.9 Billion
Up to €4.9 Billion
Source: Tamboran Resources Press Release 1st February 2012
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Annual Drilling Estimates Annual Number of Drills 160 140 120 100 80 60 40 20 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 2047 2049 Source: Tamboran Resources internal estimates, showing totals for Ireland 10
Annual Capital Investment Estimates Annual Capital Investment (€ Millions) 700 600
Up to €7 billion 500 400 300 200 100 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 2047 2049 Source: Tamboran Resources internal estimates, showing totals for , not including salaries and operating expenses 11
Daily Natural Gas Production Estimates Daily Natural Gas Production (MMcf/d) 450 400 350
The project is expected to produce economically until at least 2050
300 250 200 150 100 50 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 2047 2049 Source: Tamboran Resources internal estimates, showing totals for Ireland 12
Direct Employment Estimates Direct Employment (number of jobs) 700 600 500
Up to 600 direct long-term jobs for local residents by 2025. The project creates 13,700 person-years of direct local employment
400 300 200 100 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 2047 2049 Source: Tamboran Resources internal estimates, showing totals for Ireland 13
Employment Considerations • Local residents will primarily work in technical and traderelated roles in our professional global organisation with progression and travel opportunities worldwide • We anticipate 3 wellpad operators per 24 wells (12 people per wellpad each week) to ensure safe and reliable wellpad operation and monitoring of all wells, compression facilities and control systems • Tamboran will provide paid training to all employees to ensure that local residents are able to succeed safely and responsibly in all of our operations • Indirect employment is expected to account for 2 to 4 times as many jobs as direct employment • We anticipate supporting a substantial local service network 14
Annual Economic Benefit Estimates Annual Estimated Taxes Including VAT and Income Tax (€ Millions) 350 300
Up to €4.9 billion
250 200 150 100 50 2011 2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039 2041 2043 2045 2047 2049 Source: Tamboran Resources internal estimates, showing totals for Ireland
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Onshore Development Overview • • • • • • • • • • • •
Historical data Cores and geochemistry Well logs and petrophysics 2D and 3D seismic Site selection & environmental impact assessments Pad construction Drilling Completions (including hydraulic fracturing / “fracking”) Microseismic Water use, flowback and recycling Compression and dehydration Natural gas gathering and sales 16
Historical Data Permits Awarded
• Multiple viable target formations – Bundoran Shale (dry gas) – Dowra Sandstone (dry gas)
• Favourable for shale gas development • Extensive data
– About 475m thick (4X avg. US)
– 13 vertical wells with gas
– Brittle (analysis by Core Labs)
– 6 wells previously successfully fracture stimulated
– 2.6% to 3% TOC (log analysis)
– Over 770 km of 2D seismic
– Dry gas (%R0 of 1.3 to 2.1)
– Extensive drill cuttings & cores
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Well Completion Histories • 13 prior drills; 6 wells were fracked • 3 in Ireland • 3 in Northern Ireland Well Name
Year
Method
Total Fluid
Total Sand
Dowra #1 (re-entry)
1981
Gel/Acid Frac
79,000 gallons
N/A
Slisgarrow #2
2002
Gel/N2/Acid Frac
89,000 gallons
358,000 lbs
Knockbeg #1
2002
Gel/N2/Acid Frac
67,000 gallons
455,000 lbs
Mullanawinna #1
2002
Gel/N2/Acid Frac
77,000 gallons
375,000 lbs
Dowra #2
2002
Gel/N2/Acid Frac
N/A
N/A
Thur Mountain
2002
Gel/N2/Acid Frac
N/A
N/A
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NW Carboniferous Basin Cross Section SCHEMATIC CROSS SECTION Tight sandstones were the previous exploration targets
Minimum 500m Depth Requirement The Bundoran Shale and Dowra Sandstone are our gas exploration targets
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Cores & Geochemistry • Core can be extensively analysed with a range of advanced devices to extract key properties: – In-situ water saturation – Porosity of interconnected pore space – Matrix permeability – Total organic carbon (TOC) – Hydraulic fracture design parameters Core from the Velkerri Formation McArthur Basin, NT, Australia
– Isotope signature – Hydrogen index – Thermal maturity (R0) 20
Summary of Mineralogy By Depth
BENBULBEN SHALE
BUNDORAN SHALE
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Bundoran Shale Composition Summary of Analysis by Core Laboratories 2%
16% Quartz Crystalline
43%
Carbonate Clay Kerogen 36% 3%
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Every Project Is Different The Barnett and the Eagle Ford have very different lithologies; no single model defines all unconventional projects.
Source: Passey, Bohacs, Esch, Klimentidis, and Sinha, ExxonMobil Upstream Research Co.
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Well Logs and Petrophysics • Openhole wellbore logs provide extensive information about formation characteristics such as: • Gamma ray • Porosity • Rock density • Organic content • Resistivity • Acoustic properties • Formation imagery • Petrophysicists interpret log data in combination with core analysis to assess formation viability Source: Baker Hughes
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2D and 3D Seismic
• Over 770 km of 2D seismic has been acquired and reprocessed over past 30 years • 3D model by Weinman Geoscience (Global Geophysical) • We will likely acquire a comprehensive 3D in early 2013
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Site Selection and EIA’s Major Categories of EIA’s • • • • • • • • • • •
Soils & Geology (including Seismology) Hydrology and Hydrogeology Ecology Air Quality (including Radon) Noise & Vibration Landscape & Visual Material Assets Socio-Economic Social Impact / Tourism Traffic & Transportation Cultural Heritage (including Archaeology) 26
Pad Construction During Drilling (2.1 ha)
After Drilling (1.1 ha)
Note: A 16 well pad will be 0.2 ha larger while a 24 well pad will be 0.5 ha larger 27
Drilling
Source: Southwestern Energy
•
Tamboran plans to construct drilling rigs
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Fit-for-purpose AC electric-drive automated super single rigs
•
Rigs are typically 30m to 40m in height
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Multi-Wellpad Wellbore Trajectories
A completed 16-drill wellpad would require 3.3 acres (1.3 ha). This is less than 0.3% of the developed underground area. Source: Tamboran Resources
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Completions with Hydraulic Fracturing
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Microseismic: Finding the Balance
Geological conditions must determine the balance between stage size, cluster spacing and intra-well spacing in comparison to fracture size and methodology Source: Schlumberger
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Microseismic From The Barnett
•
There has never been an observed case of induced fractures migrating upwards into shallow formations or groundwater zones in any of the recorded microseismic events in the Barnett Shale. 32
Fracturing Without Chemicals • Tamboran’s Board of Directors signed a declaration effective on 1st September 2011, thereby committing Tamboran to hydraulically fracturing without any chemicals in Ireland and Northern Ireland. • “From a public health perspective, if hydraulic fracturing stimulation takes place, the best option is to fracture formations using sand and water without any additives” (from www.earthworksaction.org, a non-profit organisation dedicated to protecting communities and the environment from irresponsible mineral and energy development while seeking sustainable solutions)
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Typical U.S. Chemical Additives • Friction reducer – Reduces pumping pressure to save injection costs
• Biocide – Eliminates bacterial growth from surface water sources
• Anti-corrosive – Prevents water tank corrosion
• Sequestration (minerals/scaling control) – Prevents mineral precipitation
• Hydrochloric acid (3% to 15%) – Cleans metallic debris and cement from perforations 34
Hydraulic Fracturing Fluid In North America, chemical additives typically account for 0.14% to 0.5% of total fracturing fluid Most companies utilise 5 main chemical additives: Friction reducer is required to reduce friction created within the fluid as it flows through smalldiameter tubulars or similar restrictions. Reducers also add viscosity to the fluid, which reduces the turbulence induced as the fluid flows in deeper projects (2,000m – 5,000m). The Bundoran shale in Ireland averages 1,000m depth and, as friction losses will be minimal, friction reducers will not be required. Biocide is needed to clean water of bacteria. We will circulate and keep clean the water at surface so that no biocides will be required in the hydraulic fracturing fluid. Anti-corrosive is only used to prevent corrosion in temporary metal tanks used to hold water, common to single well operations in the US. Our multi-well pad will have rubber-lined tanks to eliminate this chemical. Sequestration additives keep solid minerals from scaling and plugging the reservoir. The Bundoran shale is as similarly clean as the Fayetteville shale in Arkansas (only minimal minerals present) and thus we can do without these additives. Hydrochloric acid is occasionally used by companies to clean up perforations made by shaped explosive charges. We have eliminated explosive charges and will utilise water jetting to create perforations. No acid will be required. 35
NI / Ireland Predicted Well Performance Daily Natural Gas Production (mmcf/d)
1,800
Bundoran Shale Base Case
1,600
Initial rate 1,556 mcf/d (EUR 1.9 Bcf) b factor 1.5 Terminal decline rate 5%
1,400 1,200
Long-Term Well Economics
1,000
$11.00/mmbtu Flat Case Capital investment = US$4.39 MM Before tax PV10 = $5.36 MM F&D = $2.29/mcf Payout approximately 22 months
800 600 400 200 1
7
13
19
25
31
37
43
49
55
61
67
73
79
85
91
97
Months on Production Source: Tamboran Resources Internal Estimates 36
Water Usage • We will utilise rainwater and groundwater and store water in our fresh water pond on site • Onsite water collection substantially reduces lorry traffic in comparison to projects in North America • At peak, the project would utilise as much as 0.31 million gallons of water per day (based on 1 million gallons of water per well, of which 25% is re-used) • This peak usage is equivalent to 0.11% of Ireland’s consumption and about 0.002% of Ireland’s rainfall
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Water Flowback and Recycling • We estimate that an average of 25% of water used in fracture stimulation will be recovered, nearly all within the first month of natural gas production as the water flows back with the gas • We will re-use 100% of recovered water to reduce water needed in each subsequent well’s fracture stimulation • The estimated 75% of water not recovered remains trapped in the ground by the weight of the overlying rock. This is helpful because water molecules are larger than natural gas molecules and prop open the cracks in the shale, thereby enabling natural gas to flow to the wellbore.
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Ground Water Catchment Area
Tamboran’s project focus area is completely outside of the Shannon catchment area
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Compressor and Dehydration
Major compressor station (Alberta) 40
Natural Gas Gathering and Sales • Established pricing (National Balancing Point in UK plus transportation costs)
Project Area
– Pricing is very favourable (indexed to oil due to Gazprom pricing, often greater than US$10/mmbtu at NBP) • Direct access to state pipeline gathering and distribution networks • Opportunity for energy independence versus high dependence on imports – Northern Ireland imports 100% – Ireland imports over 90% Source: Bord Gáis Presentation
Ireland imports over 90% of its daily natural gas needs
• Strong natural gas demand – Substantial local market (>600 MMcf/d) – 60% of electricity is from natural gas – Potential for more electrical generation
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The Learning Curve • A wide range of technologies have been developed to enhance our ability to solve problems arising from unconventional oil and gas plays • Continuous innovation yields significant long-term benefits • Effective project management is critical to cost-effective development of unconventional plays • These unconventional technologies and operational skills can be readily transported to international opportunities, but operators must adjust to specific local requirements
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Shale Production Increases over Time: Learning Curve Effect Technology and persistence tend to improve rates over time e.g. Barnett Shale Experience
First-Year Production Avg. Mcf/d
5,000 4,500
•
Average results continually increased
4,000
•
A wide range of results exists at all times
3,500 3,000 2,500 2,000 1,500 1,000 500 Jan-82
Jan-86
Jan-90
Jan-94
Jan-98
Jan-02
Source: Southwestern Energy, based on data from IHS (PI Dwights Plus)
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Jan-06 43
Reduced Drilling Times Drilling Days versus Depth
Depth (feet)
Overton Cotton Valley
0
• • •
2,000
Reduced drilling time by > 50%. Increased initial production by 200%. Increased gross reserves by 60%. (avg. gross EUR of 1.6 Bcfe per well in 2006)
4,000 FINA Avg: 55 Days 2001 Avg: 35 Days
6,000
2002 Avg: 27 Days 2003 Avg: 23 Days
8,000
2004 Avg: 19 Days 2005 Avg: 18 Days 2006 Avg: 17 Days
10,000
12,000 0
5
10
15
20
25
30
35
40
45
50
55
60
Days Source: Modified from Southwestern Energy presentation (as of June 30, 2007)
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Reduced Drilling Costs Drilling Capital ($ MM per well) – Deep Bossier Sandstone
$12
$11.63
$10
$9.85
$8
$8.68
$6
$4 $2
$0 Phase I Average
Phase II 2006 Avg
Phase II 1Q07 Avg
Actual Capital Cost Per Well Source: Leor Energy Non-Confidential Presentation
4545
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Operational Efficiencies Southwestern Fayetteville Shale Re-Entry Rig Days 5,000
25 4,985 4,667 4,532 4,503
20
4,303 4,348
4,000 18 3,736 16 3,000
3,850 3,874
3,562 15 3,301 15 3,193
15
14 13 12
2,512 2,000
20
4,123 4,100
13 12
2,622
12
12
12
11
11 10
2,104
8
8
1,000
Average Drilling Days
Average Lateral Length (ft)
Including the 5,000’ foot average TVD, drilling speed over tripled to 1,248 feet per day from 355 feet per day in just four years
5
-
1Q07
3Q07
1Q08
3Q08
1Q09
3Q09
1Q10
3Q10
1Q11
Source: Southwestern Energy Presentation
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Significant Improvements Over Time Total Well Cost, Average Lateral Length, Average IP vs Time 5,000 4,985
Average IP (Mcf/d) Average Lateral Length (Ft)
4,532 4,503 4,303 4,348
4,000
4,123 4,100 3,736
3,850 3,874 3,611 3,604
3,562 3,000
3,193
2,512
2,622
2,541 2,027
1,497 1,261 $2.6
$2.9
$3.0
$3.0
$2.9
3,281
$2.8
3,231
2,992
Lateral length increased by 2.5 times (and frac size increased by over 6 times), while production rates tripled, all while keeping wells costs flat during a period of significant service cost increases
1,769 1,000
3,472
3,449 3,197
2,343 2,104
3,727
3,350
3,301 2,882
2,000
4,667
$3.0
$3.1
$3.1
$2.9
$2.9
$3.0
$2.8
$3.1
$2.8
$2.7
$2.8
1Q07
3Q07
1Q08
Total Well Cost ($MM)
3Q08
1Q09
3Q09
Average Lateral Length (ft)
1Q10
3Q10
1Q11
Average IP Rate (Mcf/d)
Source: Modified from Southwestern Energy Presentations and Press Releases (Fayetteville Shale)
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Technical Summary
• There is no single model; each project is unique. Do not hasten to predict failure. • Listen to the rock; geological conditions must determine your operational approach. We are not overcoming nature; we need to co-exist to ensure we optimise recovery. • Learning is complex; an integrated approach is essential to successful unconventional development. 48
Stakeholder Relations • Meaningful and effective stakeholder relations are now essential in global unconventional resource development • Tamboran’s team is very focused on this issue in Ireland and Northern Ireland – We held community meetings with over 1,000 people in September 2011 – We have accommodated over 60 media requests (print, radio, and tv) – We have participated extensively in local and national planning, regulatory and government meetings – We have held over 10 hours of direct conversations with leaders of the opposition movements – We are building relationships with local business and community leaders
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Background
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Misinformation
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The Evolution of Media
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The Business of Media
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The Bottom Line
Addressing emotional issues with technical information doesn’t work. There is a disconnect. It is that simple. 54
Water Contamination is the #1 Fear Common Misconception: Hydraulic fracturing of wells can or has caused contamination of water wells 1976 Colorado Division of Water study found that this area had “troublesome amounts of methane” in the water decades before fracking began naturally occurring. Josh Fox chose not to include this information in his movie. 55
Water Contamination is the #1 Fear Common Misconception: Produced water associated with hydraulic fracturing activities will poison lakes and rivers with radioactive waste • Thousands of wells fracked in the Marcellus basin in Pennsylvania, USA • Pennsylvania DEP tested water in 7 rivers to which treated waste water from gas wells is discharged and found no elevation in radioactivity All samples were at or below background levels of radioactivity.
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Water Contamination is the #1 Fear Common Misconception: Hydraulic fracturing without chemicals has never been done Hundreds of wells in the US have been fracked successfully without chemicals. This is possible because chemicals DON’T break rock, only fluid pressure does. 57
Earthquakes Common Misconception: Hydraulic fracturing causes destructive earthquakes Hydraulic fracturing absolutely causes earthquakes, but not in the sense with which the public and media commonly associate. • The seismic events induced using the hydraulic fracturing technique are micro-seismic events; extremely small • The typical energy released in tremors triggered by fracking is the equivalent to a gallon of milk falling off the kitchen counter 58
Earthquakes The fact is that the small scale tremors typically associated with hydraulic fracturing operations “are not perceptible to human beings” and “do not cause damage”. Mike Stephenson, Head of Science (Energy), British Geological Survey
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Climate Change Common Misconception: Natural Gas is dirtier than Coal • New York Times turned Cornell University marine ecologist Robert Howarth into an anti-fracking rock star with its spring 2010 series on shale gas which heavily promoted his bizarre claim that shale gas generates more GHG emissions than coal • New York Times didn’t report that almost every independent researcher , including Mr. Howarth’s own Cornell University colleagues, have slammed his conclusions • Within the field, Howarth is considered an activist, not an independent scientist.
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Visual Impact (Below) Marcellus Shale well overlooking the Susquehanna River in Windham Township, Wyoming County, Pennsylvania.
(Above) Natural-gas wells on public land in the Jonah Field of western Wyoming. County, Pennsylvania. 61
U.S. President Barrack Obama “We have a supply of natural gas that can last America nearly one hundred years, and my Administration will take every possible action to safely develop this energy. Experts believe this will support more than 600,000 jobs by the end of the decade. And I'm requiring all companies that drill for gas on public lands to disclose the chemicals they use. America will develop this resource without putting the health and safety of our citizens at risk.” (US President Obama, 25th January 2012) 62
Best Operating Practices •
Tamboran will uphold the highest unconventional operations, including:
operating
standards
in
its
global
•
Superior wellbore construction practices and testing (multiple casings cemented to surface, cement bond log to pass/fail wellbore) to ensure groundwater formations are completely protected
•
Comprehensive Environmental Impact Assessments, including a thorough 12 month baseline monitoring of all aspects of the environment, including groundwater, air quality, noise levels, and seismic activity before any drilling takes place, as well as during and after all of our operations
•
3D seismic acquisition to mitigate geo-hazards and avoid the risk of earthquakes
•
No chemicals will be used in the hydraulic fracturing process in Northern Ireland and Ireland
•
Air-drilling of the vertical section of the wellbore followed by a clay-based mud system for horizontal drilling within the target formation
•
Water-jetted perforations to eliminate use of explosives in perforating
•
Produced water reuse and surface cleaning to eliminate water disposal
•
Multi-wellpads reduce visual impact and footprint and reduce lorry traffic by over 90% 63
What are the technical solutions? Understand the Geology
• Over 770 km of 2D seismic has been acquired and reprocessed over past 30 years • 3D model by Weinman Geoscience (Global Geophysical) • We will likely acquire a comprehensive 3D in early 2013
64
Superior Wellbore Construction Is Key
Advanced, engineered cement surrounds all steel casings from the bottom of the well to the surface
Source: Tamboran Resources 65
Communicating Technical Information
• Transparency builds trust • Recognise and adjust to the needs, cultural differences, and technical understanding of your audience • Take your time; you cannot rush or push awareness • Visuals are the most effective way to introduce technical concepts for most people • Develop long-term relationships
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Closing Thoughts This project can be safely and responsibly developed to deliver substantial benefits to all stakeholders in Ireland and Northern Ireland There are already 1.25 million wells fracked worldwide “I’m not aware of any proven case where the fracking process itself has affected water” US EPA Administrator Lisa Jackson There is strong misconception that the economic benefits of shale gas development, so urgently needed in many parts of the world, must come at the expense of the environment Transparency, diligence and respect for people and the environment is the only way forward
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Thank You For Your Time and Attention
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