repeat

A quick repost just to make sure active holders got to read what BOW is doing just in case the checked the asx releases and found nothing.
SF

===============================================
Bow Energy searches for stakeholder
David Winning | October 15, 2009

Article from: Dow Jones Newswires

COAL seam gas producer Bow Energy hopes to clinch an offtake deal by mid-2010, and early negotiations have included the possible sale of an equity stake in its Australian reserves.

Bow commercial chief executive John de Stefani said the company was awaiting the outcome of a fourth-quarter drilling campaign in Queensland, as that was likely to strengthen its hand in talks with potential customers.

Brisbane-based Bow expects to beat a year-end goal of 750 petajoules of proven, probable and possible coal seam gas reserves by up to 33 per cent.

On the narrower measure of proven and probable reserves, Bow was on track to hit its goal of 100PJ by the end of this year and continued to aim for 450PJ by the end of 2010, Mr De Stefani said.

Coal seam gas -- trapped stores of methane hundreds of metres below the Earth's surface -- is one of the world's hottest energy plays, with more than $20 billion spent over the past two years on mergers and acquisitions in Australia alone.

Bow is among a few companies with CSG assets in Queensland's Bowen and Surat basins that hasn't been taken over or committed any of its future output to companies proposing to build liquefied natural gas terminals at the port of Gladstone.

Mr De Stefani said Bow aimed to sell at least 50 per cent of its future output into these LNG terminals, and securing a heavyweight joint-venture partner would help finance the development of its CSG fields.

"Our ultimate aim is to keep majority ownership of our fields," Mr De Stefani said.

Bow is unwilling to commit its gas via an offtake deal until consolidation has taken place among the proposed LNG terminals. "The last thing we need is a credit risk by signing up our gas to a project that won't go ahead," he said.

Large-scale projects planned for Gladstone include a standalone effort by BG Group, a joint venture between ConocoPhillips and Origin Energy, and another between Santos and Petroliam Nasional. There's also a smaller project to be built by LNG.

Bow shares closed at $1.48, a sevenfold increase from 24c a year ago.

http://www.theaustralian.news.com.au/business/story/0,28124,26211267-5005200,00.html