estimates & reserve potential, page-11

Hi Sav,

In my calc's, I've used a conversion of 10scf dry gas: 1 bbl oil, as per the independent report prepared by David Holt's Co. back in '08.

Holt had considered, 10,000 scf Dry Gas to give 1 bbl of Oil (page 68 of that report) & had applied 11 m3/ton (page 39). Back then, their OGIIP was 92.8 Tcf. With 35% estimate giving them 32.48 TCF of prospective recoverable resource.

10k scf : 2bbls,/b> may b possible, I don't rule that out at all. That figure of 20 GJ/t is handy to have from CNX's trial.

I've only applied 3.5-10 m3/ton & it won't surprise me that the latest report justifies using a higher figure.

I've specifically mentioned on this thread b4 & to JH in Feb, that the Maynard report about 1.175 TT was incomplete, without the Gas estimates & Gas saturation as it portrayed CTP more of as a mining company rather than a UCG/GTL/CSG player. His answer back then was, it was work in progress & will b made available in the future. Four months later, I for one, look fwd to it :)

The methodology, I've quoted is consistent with what's used in the sector, where, the emphasis is always on 'Gas Saturation' by any CSG operator. Note that, the deeper the coal, higher the GS, as GS depends on the burial depth & nature of the coal (calorific value etc.) & hence the need to core wells to capture this info. Until then, an operator could use data frm nearby provinces (Galilee, Ipswich or Bowen) or pilot trials locally or overseas.

Look fwd to their estimates.

cheers