positive technicals, page-32

Thought I'd pop up a few figures...

Previously, CNX conservatively estimated they had 2890 petajoules of methane/ethane based on 364 million tonnes of coal in seams over 5m thick, as per their trial. If the remaining coal reserves are included (668m tonnes total) we see 5,303 petajoules.

Add on another 300 million inferred tonnes of coal they are acquiring in W.A. (likely suitable for UCG) then the figure is just shy of 10,000 petajoules. I reckon the third party gas reserve report due soon will put a rocket under the share-price.

This compares with an upper estimate of 259 petajoules in the Arrow Energy resource, utilizing CBM.