-------------------------------- -------------------------------- Blue Energy pens its first 2P Reserve for Queensland coal seam gas block Tuesday, February 26, 2013 by Bevis Yeo
Blue Energy (ASX: BUL) has defined maiden Proved and Probable (2P) Reserves of 50 petajoules of gas at its wholly owned Sapphire Block in Queensland’s Bowen Basin.
The annual reserve and resource review by Netherland, Sewell and Associates also increased Proved, Probable and Possible (3P) reserves by 140% to 180 petajoules.
Blue’s Sapphire Block of ATP814P is located immediately adjacent to Arrow Energy’s Moranbah Gas Project which currently supplies gas to Townsville users but is also targeted to provide feed gas for Arrow’s proposed LNG export facility in Gladstone.
The company is continuing pilot testing operations targeted at further increase its gas resource.
By the time you realise all the resources underneath, the stock would be too expensive for you :) Obviously anybody with commonsense want to takeover BUL, would know this is the time to buy NOT when they have proven all resources which would be too expensive when that day comes
BUL Price at posting:
3.2¢ Sentiment: Buy Disclosure: Held
