a little old but may not have been postedOz player outlines CBM...

a little old but may not have been posted

Oz player outlines CBM drilling strategy

By Upstream staff


Australia’s Energy Investment has commenced drilling at the Burrum-1 coalbed methane (CBM) well in Queensland’s Maryborough basin, as part of the company’s 2007 CBM gas exploration and appraisal drilling programme.

Energy Investment will fund 100% of the drilling costs at the well, which is located in Block ATP613P.

In return, the company will earn a 90% working interest in any production from Block ATP613P and nearby Block ATP733P from present operator Magellan Petroleum.

Meanwhile, Energy Investments has signaled its intention to begin CBM exploration and appraisal during 2007 at Block ATP817P in the Bowen basin and at Block ATP818P in the Surat basin.

Energy Investment is the 100% owner of both permits.

The company has also completed a Heads of Agreement with CSM Energy whereby CSM will earn a 50% interest in a CBM project at Block ATP814P, also in Queensland’s Bowen basin.


CSM will invest about A$6 million to fund exploration drilling at the permit


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