Through its previous Southland conventional and coal seam gas exploration, LME has built a considerable database of geological information for the region. This data, combined with the elevated gas readings in the many oil and gas exploration wells in the basin has been used to complete an initial phase of exploration, with the definition of the aerial extent, thickness and maturity of shales in the basin. Based on the available data, the Waiau Basin shales compare very favourably to the best US shale gas plays.
LME Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
