The attached Rigzone article describes recent mega purchases of US shale gas -in the ground. Prices paid are interesting, and I think relevant to Mako.

http://www.rigzone.com/news/article.asp?a_id=77769

US shale gas, and probably all new US Ng projects, except shallow Gulf of Mexico, are uneconomic at current Ng prices, and are projected to be uneconomic for 4 > 5 years as a result of persistent over supply. Yet, major players are buying positions in US shale gas !!!

Fortunately, the Szolnok is not shale gas. Based on the metrics released for FO's wells, the Szolnok should exhibit slower decline than shale gas without the expense of horizonal drilling and completion, and at least for the near term, gas prices in the EU should remain well above the US.

What seems clear from the recent shale gas purchases is that the majors and large independents have no place to reinvest except in Ng, and they want to do that in secure major markets.

Oldwine