Global CBM (Coal Bed Methane) market is expected to reach USD 17.31 billion by 2020, growing at a CAGR of 5.9% from 2014 to 2020. Unconventional CBM reserves, especially in coal-rich regions are increasingly gaining the spotlight as the industry strives for energy independence. Exploration and commercialization of unconventional hydrocarbon energy sources is seen as a critical step by energy agencies, to stabilize the energy supply-demand gap in the coming years. With CBM being a pure natural gas form, producers and consumers also have the opportunity to obtain much needed carbon credits and tax incentives.
The Tshipise Energy project is exploring the CBM potential of the Soutpansberg Coalfield with a view to harnessing the benefits of fugitive gas which may otherwise escape into the environment during coal mining.
Tshipise Energy (Pty) Ltd is a 50:50 joint venture between Coal of Africa Limited (CoAL) and
TSHIPISE 2: SIGNET PROJECT !! Rights Holder: Subiflex (Pty) Ltd.
In South Africa, every company holding rights under the Mineral and Petroleum Resources Development Act (MPRD Act) is required to have a minimum of 26% Black Economic Empowerment (BEE) shareholding. Both of Signet’s South African subsidiaries, Subiflex Proprietary Limited and Exotic Coal Exploration Proprietary Limited, comply with the requirements of the MPRD Act in that BEE shareholders hold 26% of the issued share capital of both companies. The BEE shareholders of both subsidiary companies are members of the royal families in the regions where the rights have been granted.
***The involvement of these local landowners provides a strong BEE supporter who will usefully assist in the approvals and permitting of the projects over time.***
The Heads of Agreement (HOA) provides for a performance triggered option by Condor to progressively acquire additional equity in the four projects that comprise Signet, with short term emphasis on the highly prospective The Duel and ***Tshipise 2 projects.***
