strong similarities to us shale gas plays

Following extensive conventional drilling programmes, L&M is seeking to become a leading player in shale gas exploration on the South Island with existing acreage holdings and substantial planned acquisitions. LME currently holds two granted permits in the Waiau Basin covering an area of 616.1 km2 and has applied for five further permits that could significantly increase its holding to 26,279 km2. This acreage potential is similar in size to the Nappamerri Trough in the Cooper Basin of Australia.