Bow hits gas in CBM play
Australian coalbed methane (CBM) player Bow Energy has intersected gassy coals on all three wells in its drilling program on the Vermont CBM prospect in Queensland.
Bow said the three completed wells had intersected an average of about 65 metres of gassy coals which confirmed the predicted coal depths and thickness across the Vermont CBM Field.
It added analysis of the gas contents, composition and saturation was currently being completed.
The drilling rig will now complete casing on the VM-3 well before demobilizing to commence drilling on a further four core holes in Bow’s Dysart and Norwich prospects.
The company said an additional coring rig is expected to commence next month to speed up the 2010 drilling program.
Bow has a 100% working interest in the Vermont, Dysart and Norwich prospects, located in ATP 1031 on the Norwich Park Block, about 300 kilometres north-west of Gladstone.
Bow said it is targeting 100 petajoules at the 2P level and 1200 PJ at the 3P level gas reserves on the Norwich Park Block by the end of the year.
Wednesday 9 June 2010
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