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Friday, 05 December, 2008, 16:50 GMT | more >>

CBM hopefuls enter joint venture



By Upstream staff 

Australia’s Bow Energy has entered into a coalbed methane joint venture with Victoria Petroleum and Roma CBM in Queensland’s Surat basin.

The Don Juan joint venture will be based on Bow’s existing Block 593P and the adjoining ATP 771P tenement owned by Victoria.

The venture is mmediately adjacent to previously discovered gas flows and about 25 kilometres north of the Sunshine Gas Lacerta CBM field, Bow said.

The Don Juan partners plan to drill up to three test core holes once the necessary equipment is available and expect to begin a CBM pilot by the end of the year with the goal of proving a commercial gas deposit in 2008.

Bow and Victoria will each have a 45% share in the venture, with Roma holding the remaining 10%.

Bow will pay 55% of the initial coring and pilot costs, with Victoria paying 25% of the costs and Roma 20%.


Thursday, 14 June, 2007, 01:34 GMT  | last updated: Thursday, 14 June, 2007, 02:00 GMT

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