In addition to the activity in ATP896P, Blue Energy advises that the Boart-Longyear 1200-7 drilling rig is rigging up at the Monslatt 1 location in ATP814P in the Bowen Basin of central Queensland, and should spud in the coming days. Monslatt 1 is a stratigraphic test to establish the presence and thickness of the Permian aged Moranbah Coal Measures in the eastern part of ATP814P. The well is located approximately 20km west of the town of Nebo in central Queensland and is programmed to drill to a total depth of 900m. Drilling operations at the well are expected to take 12 days. Monslatt 1 is the first of up to 6 wells targeting the Permian coal sequences in ATP814P. The program is designed to investigate the CSG potential of the eastern portion of the permit which is underexplored for CSG, together with following up on the results of the Sapphire 1 drilled by Blue Energy in 2008, down flank of Arrow’s producing Moranbah CSG Project.
Commenting on the amendment, Chief Operating Officer, John Phillips, said that “Blue Energy has been negotiating in good faith for some time with both the Port Curtis Coral Coast People (PCCC) and the Butchulla People, whose traditional country covers the permit areas, and given the good nature in which all parties have been conducting the negotiations, I expect Native Title Agreements covering these permit areas to be signed shortly.”
GOOD LINK BELOW ABOUT LNG and CSG http://www.fnarena.com/index2.cfm?type=dsp_newsitem&n=9818EFE6-1871-E587-E1EF67A138FB55B2
BUL Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held
