good news for new float Arrow has a big share holding in PES &...

good news for new float Arrow has a big share holding in PES & with coal seam gas in the news re Santos's offer for Queensland Gas & a cople of PES directors adding to their holdings (1 large 1 small addition) the potential for PES is very good.Bit of resisitance at 22c if it is a 'real' offer.

Arrow says pipeline will open new market


October 6, 2006 - 5:59PM


Arrow Energy says the planned development of a $220 million gas pipeline announced by the Queensland government will open up a whole new market for the company.

Chief Executive Officer Nick Davies said that coal seam gas from Arrow's Bowen Basin Projects, including Moranbah Gas Project, Carborough Downs and South Walker, could soon be flowing to customers via the Central Queensland pipeline to Gladstone.

"The potential increase in gas sales to industrial users in the Gladstone area would form a key part of our new margin-focused strategy," Mr Davies said.

Currently undergoing environmental assessment, the pipeline could initially deliver 20 to 50 petajoules a year, and Mr Davies says Arrow is well positioned to deliver the gas.