BOW Energy has announced a substantial increase in its Coal Seam Gas (CSG) reserve targets with 1,900PJ of 3P and 450PJ of 2P certified reserves targeted by the end of 2010.
The significant increase in CSG reserve targets is supported by Bow’s 100% owned Comet block (ATP 1025P) and Norwich Park block (ATP 1031P) where a combination of more favourable technical results from the recently completed Comet block desktop study and recent information on gas flows from the Fort Cooper and Rangal Coal Measures in areas adjacent to Bow’s blocks in the Bowen Basin achieved by other operators.
Bow Energy says its Norwich Park block is on trend and has similar coal measures as Arrow Energy’s Moranbah and South Walker CSG projects.
The company says it plans to accelerate the exploration and appraisal drilling program in this block with drilling scheduled to commence in June 2009.
Managing Director, Ron Prefontaine says the increased targets are realistic and achievable since they are strongly supported by recent gas flows near our Bowen Basin blocks and its internal review of technical information relating to its blocks.
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