News

July 01, 2009

Vic Pet Announces Initial 2P Certified Gas Reserves For Don Juan CSG Project

Victoria Petroleum’s Don Juan Coal Seam Gas Project in Queensland, Australia has taken its first steps towards commercial development with news that it now has initial certified 2P reserves of 34 PJ. Additional reserves upgrades are expected next quarter as the joint venture, led by Bow Energy Limited, steps up the drilling campaign across the ATP 771P permit, in which Vic Pet has a 45 per cent interest.

Independent reserves engineers MHA Petroleum Consultants analysed the results of the initial drilling programme, which found good to excellent permeability in the Juandah and Taroom coal seams with each well flowing free gas.  The wells didn’t, however, provide enough information to enable MHA to quantify the degree of gas saturation in some of the Juandah and Taroom coals so an additional well, Carnarvon-5, is to be drilled between the existing CN-2 and CN-1 wells to provide further...