Blue Energy (ASX:BUL) has increased Best Estimate (2C) Contingent Resources for its ATP814P coal seam gas asset in the Bowen Basin, Queensland, by 27% to 942 petajoules of gas.
An independent review by Dallas-based reserve certifier Netherland Sewell and Associates also increased High Estimate (3C) Contingent Resource by 21% to 3,462PJ.
The company now has total 2C Resources of 1,077PJ along with 55PJ of Proved and Probable Reserves as well as 200PJ of Proved, Probable and Possible Reserves.
The six separate blocks comprising ATP814P are surrounded by Arrow Energy’s existing Moranbah Gas Project and its proposed new gas development and export pipeline project presently undergoing a Front End Engineering and Design process to supply gas to the Gladstone LNG hub.
East Coast gas demand for gas supply in Gladstone is set to increase exponentially in the coming 12 months as the other LNG projects come on stream after QCLNG.
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