If EGL can solve the money problems and/or find a good JV partner it can have a great future... provided that the geology allows.
The seams in lorraine can have 14 m+ coal net thickness but they are very tight and will not produce easily. In the 90's Enron and Conoco tried to produce CBM using the cavitation technics imported from San juan basin basin (USA) and it didn't work. Obviously more refined technologies will have to be used, which means higher costs and better technicians.
Fund raising is highly dependent on credibility. I am afraid that, by annoucing things that can not arrive because they are not funded, EGL looks like an unreliable partner.
Do not worry too much about the figures of ressources. They are very dependant on the methods and thresholds used for evaluation. More important ,they do not tell how much gas can actually be produced until the real size testings are over. Sometimes a small permeable play can be much more profitable than a large tight mamooth.
EPG Price at posting:
22.5¢ Sentiment: None Disclosure: Not Held
