19/10/09. The Dirt.Across the Tasman all is surging ahead. In...

19/10/09. The Dirt.

Across the Tasman all is surging ahead. In the same edition of Pure Speculation it was reported that L&M Petroleum (LMP) was negotiating to buy a private CSG company. Talks are still going on, but that private company has now received certification of gas deposits in Southland province.

The private company, incidentally, is run by one Geoff Loudon, better known for his part in the founding of Lihir Gold (LGL).

Another emerging player in New Zealand is Comet Ridge (COI). While it is better known for its CSG plans in NSW and Queensland, COI is about to start drilling near Greymouth on the South Island’s West Coast. The West Coast is NZ’s premier coal mining region.

The company, if successful, is veering towards using the gas – if enough is found – to produce electricity, a much needed commodity as New Zealand’s hydro system has not been able to keep pace with power demand. Using the CSG for liquefied natural gas would also be a possibility.

http://www.theaustralian.news.com.au/business/story/0,28124,26229358-36418,00.html