News

August 04, 2009

European Gas Moves Forward On Its Plan to Upgrade Its French CBM And CMM Production To Electricity Generation

There is not a lot, in broad outline, that we do not already know in the recently released quarterly report from European Gas. But if you take a close squiz at the company’s the Electricity Development Project, then you can have an interesting time trying to quantify what a move into electricity generation could mean in taking the company forward.

European Gas, as we have written, was in 2005 an ASX-listed company trading as Kimberley Oil, a lacklustre explorer in Australia’s remote Canning Basin. It sold most of its Canning Basin assets, defeated by the tyranny of distance. Even if it found oil or gas what would it do with it? The acreage was in the middle of nowhere, a long way from markets. In 2006 it focused on its coal bed methane (CBM) and coal mine methane (CMM) properties in France and Italy, and changed its name.

It...