Thanks Psi This was back in May 1992:- Perth-based junior explorer, Victoria Petroleum NL, is set to begin a full appraisal of the Reid's Dome gas discovery in South-East Queensland.The Reid's Dome field was first discovered in 1955 by the former Australian Oil Exploration Number 1 well which flowed gas to the surface at a rate of close to 500,000 cubic feet a day. The gas flowed from reservoir sand of more than 140m thick.The managing director of Victoria Petroleum, Mr John Kopcheff, said yesterday new appraisal work had suggested the field may contain a total of more than 30 billion cubic feet of gas.Mr Kopcheff said three wells will initially be drilled on the northern and south-central portion of the structure to determine the extent and productivity of the already known gas accumulation. Drilling is expected to begin in the third quarter this year, Mr Kopcheff said.The initial drilling programme, if successful in proving a commercial gas field, would be followed by a full feasibility study to determine the viability of connecting Reid's Dome into the new gas pipeline to Gladstone.
Gas extraction technology as come along way since back then...Stranded gas that needs a pipeline to market..in the meantime and whilst the price is high, maybe a truck will work.
cheers
CTP Price at posting:
8.4¢ Sentiment: Hold Disclosure: Held
