BOW Energy has announced the milestone of its first 2P coal seam gas (CSG) reserves certified on the Don Juan CSG Project near Roma, Queensland.
Bow’s CEO — Commercial, John De Stefani, says that 34PJ of gross 2P certified reserves have been independently verified from the Juandah Coal Measures, upgraded from the 192PJ of gross 3P reserves announced on March 4 2009 from both the Juandah and Taroom Coal Measures. Further 2P certified reserve upgrades are expected from both coal measures in the September quarter 2009 as the company steps up the drilling campaign on its diversified CSG portfolio.
De Stefani says that the Don Juan Project in the Surat Basin is where Bow achieved its first independent gas reserves certification, and the group is confident of reaching a target of 100PJ of 2P gross certified reserves on that project.
The Don Juan CSG Project is a joint venture between Bow, as Operator with a 55% interest (Walloon Coal Measures only, including the Juandah and Taroom coal seams), and Victoria Petroleum having a 45% interest. The Don Juan CSG field includes ATP 771P and ATP 593P and is located about 40 kilometres north of Roma, adjacent to and west of BG Group’s Lacerta CSG field.
De Stefani claims that Bow Energy has strategically located CSG projects and with the further drilling planned for Don Juan along with the current drilling program underway in the Comet and Norwich Park Blocks located in the Bowen Basin, we expect to exceed our end 2010 reserves targets of 450PJ of 2P and 1,900PJ of 3P reserves.
Bow Energy says that commercialisation activities are continuing, targeting both domestic gas sales and export LNG market sales for the emerging Gladstone projects, as the company move towards becoming a major upstream energy company with a portfolio of CSG and conventional oil and gas projects.
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