Icon’s Lydia CSG resource jumps 37%
INDEPENDENT certifiers have upgraded Icon Energy’s coal seam gas resource for the Lydia farm-in area in ATP 626P of the Surat Basin by 37% to 357 billion cubic feet.
Icon said the Netherland, Sewell & Associates (NSAI) also increased its best estimate contingent gas in place resource from 564Bcf to 773Bcf.
The figures are based on the latest laboratory data and come a week after NSAI certified a contingent CSG resource of 1150 petajoules within ATP 626P.
The Lydia farm-in area represents 13% of ATP 626P. Stanwell Corporation is funding a development program to earn a 50% stake in the farm-in area.
Icon is continuing to dewater the wells in the Lydia Pilot and is awaiting more information on permeability and gas flows as a prelude to seek further resource certification.
The company holds 100% of ATP 626P.
Thursday, 17 September 2009
PNN
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