The benefit is obviously for onshore, and hopefully continued offshore, because we have Newfoundland Statoil, which announced one of the largest offshore finds in 2013 off Newfoundland. We also have $2 billion going to be spent in exploration off Nova Scotia by BP and Shell, and they are both looking for oil. Hopefully they're going to find it, and we're going to move forward with that. Those projects are 10 or 12 years out.
For onshore, yes, onshore natural gas and oil, because Contact Exploration is producing oil here in New Brunswick. Currently in Nova Scotia things are on hold until we have that expert panel review, which we expect will be coming out in June or July and provide us with some very clear rules as to how to move forward. We have East Coast Energy that has a coal-bed methane well that they drilled earlier this year.
We will hopefully continue to see onshore development in Nova Scotia and in New Brunswick, and yes, some of that is going to include shale. New Brunswick's potential for shale, as was mentioned by the mayor and Mr. Teed, is huge. It can be turned around and production can begin very quickly. We need that natural gas here locally in the Maritimes because we're running out of Sable natural gas. Deep Panuke is an extremely small project. It's only going to be producing for 10 or 12 years. As was mentioned earlier, we are no longer producing enough natural gas of our own to meet our demand in peak periods. Without access to natural gas moving forward our companies are not competitive on the North American market anymore, if you start looking at the manufacturing positions, because they're competing against companies that have converted to natural gas and are experiencing much lower prices than what we've seen in eastern Canada the past couple of months.
Does that answer the question?