hello simpson, page-20

Love to know how to calculate a potential value on this - in excess of 30 TCFG.




The gas composition at the much deeper Blamore 1 well was also remarkably similar to the gases encountered at CBM93001.
The well will be completed and suspended as a potential CBM gas producer after all electric logging has been completed.
“This CBM well in the Pedirka Basin represents the very first phase of exploration of what is regarded as a major potentially recoverable resource in excess of 30 TCFG according to independent reports” said John Heugh, Central Petroleum’s Managing Director today. “We know the coal is there from previous drilling, but explorers in the past were not interested at all in the potential for CBM and so no tests were conducted on the coals encountered.”
The Company has longer term plans for value adding for any gas discovered and proved and is focused on GTL applications to achieve these aims.
Central, in association with its Joint Venture partners, Petroleum Exploration Australia, He Nuclear Limited and Rawson Resources (RAW) have a comprehensive exploration programme under way in central Australia and the next well planned is Simpson 1, a 190 MMbbl UOIIP potential target well in the Pedirka Basin in EP 97. The well is expected to spud by the end of September 2008.