CSG players crank up resources, reserves
METGASCO has upgraded its gas reserves for PEL 16 in the Clarence Moreton Basin while fellow coal seam gas player Eastern Star Gas has upgraded its contingent resources for the Narrabri CSG project.
In the Clarence Moreton Basin, Metgasco said its proved and probable (2P) gas reserves increased 33% to 397 petajoules based on CSG drilling and testing results from PEL 16.
Proved, probable and possible (3P) reserves rose 46% to 2239PJ.
Metgasco managing director David Johnson said the company hoped to add further 2P reserves by additional drilling.
“To date we have explored the coal seam gas potential of only six out of the 11 graticular blocks in PEL 16,” he said.
“It is our view that several areas within the tenement, that are currently undrilled, contain similar coal seam gas resources to the areas where we have currently booked 2P reserves.
“So there is further potential to add to 2P reserves in the future by undertaking additional drilling activity.”
Over at the Narrabri CSG project in PEL 218, northern New South Wales, ESG said its contingent (2C) resources rose to 3515PJ.
The rise in 2C resources together with the recent increase in 2P reserves of 1520PJ takes the company’s total 2P and 2C resources to 5035PJ.
Managing director David Casey said the contingent resource upgrade was particularly significant given that last year’s program focused more on reserve growth than on growing resource size.
“The growth in contingent resource in PEL 238, despite the significant conversion of contingent resource to reserves, is a clear indication of the potential within the licence area,” he said.
“It is also significant that the reserves and contingent resources presently certified are only for PEL 238.
“As this is one of six licences operated by ESG in the Gunnedah and Surat Basins, we envisage further increases in contingent resources as this year’s program involves a ramp-up of regional exploration across all licence areas.”
Tuesday 16 Febraury, 2010
PNN
Tuesday 16 Febraury, 2010
PNN
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