""(I share the concern of others that shareholders may be confused of find these type of assertions difficult to weigh up!)""
You know what OilGasPlanning, you forgot to add to that post of yours, the gas reserves that MEL has booked in their tenements before the Government decided to go/jump into bed with the watermelon people (The greenies), and shut it down. Amazing what the prospects of loosing some seats in parliament can do.
If you were to do a proper research about how much gas they had in reserves, you would be really surprised and IMHO it would make CTP look like a very small child in the playground of the big boys. You could then share it with the ones that doesn't believe what I am saying.
From my records it shows that in 2010 MEL had the following gas certified amounts:
METGASCO INCREASES GAS RESERVES• 3P gas reserves now 2,239 PJ (46% increase)
• 2P gas reserves now 397 PJ (33% increase)
And another important thing to support my comments has been posted below:
Extraction of CSG from the Walloon Coal Measures in the Casino Trough was initially expected from depths of approximately 500 to 700 m (Metgasco, 2007b). However exploration along the western side of the Casino Trough has since demonstrated high levels of gas saturation at depths as shallow as 250 m.
The contingent resource for PEL 16 alone was estimated to be at up to 298 PJ.
How does all of the above compare with what CTP is currently holding as reserves.??
Now, does anyone still say that, if the NSW Government decides to change it's tune in regard to gas production and exploration in NSW, along with the gas from the Pilliga by STO, we would still need the gas from CTP.??
Many thanks and, most importantly, DYOR.
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