Agree Strauss,
If the drilling continues to run smoothly over the weekend then we should have the update from the final DST by next Tuesday's announcement......
Looking very good from here on in!
" 45 year lease over drilled out coal mine gas acreage
– 1/2 Tcf gas in place (plus upside) calculated on just initial project area, Hegang • strong evidence of gas saturation and flow potential - upcoming well programme to prove this."
"Triple is operator @ 80% profit interest, carrying LongMay’s 20% capex/opex
– Agreement is exclusive to Triple
– Triple has rights under JV to sell gas severally."
" Significant central Government push for more domgas production
• China gas markets pay $7 - $8 / mscf
– China currently pays ~3-4 times more for gas than the USA
• China imports (Australian) LNG @ ~ US$15+ / mscf.
~ 200 logged boreholes shows up to 20 stacked coal seams – some 3.5m thick.
• Coal seams at optimal depths of 400 - 1,700 metres
• 5 known cored coal seams average 3.5m in thickness
– Up to 15 more known coal seams yet to be evaluated
• Gas in the coals is reported to average around 95% methane.
• Proximate wells (in the same basin) producing ~ 300mcf/day
– Ready market for any gas that can be produced just 3 kms away from first well – Domgas reticulation infrastructure is already in place."
Agree Strauss,If the drilling continues to run smoothly over the...
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