cottee very positive
Mr. Cottee is very positive....that's a good sign ! ;)
QGC managing director Richard Cottee said the company now expected to sell more than 200,000 gigajoules (GJ) of gas in May, rising to 325,000 GJ in June.
Mr Cottee said the launch of gas sales was a momentous occasion for QGC and marked the company's emergence as a coal seam gas producer.
"The achievement today is the culmination of 12 months in which QGC completed its first commercial development on budget and more than two months ahead of schedule," he said.
"In the climate of a resources boom, and with the wettest October for many years, it was a noteworthy achievement."
Mr Cottee said the gas field had been developed within nine months of the decision to proceed and at the same time as QGC had significantly increased its gas reserves.
QGC was confident it would be delivering gas at a rate of eight petajoules a year from the fourth quarter of 2006.
QGC has a 90 per cent stake in Berwyndale South Gasfield and is the operator with Sentient Gas Australia holding the remaining 10 per cent.
T10:)
QGC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
