Tuesday, July 19, 2011
Bow Energy Ltd.
Bow has obtained further 2P certified reserves in the Blackwater CSG Field (ATP 1025P) increasing Bow's total certified reserves to 238 PJ of 2P and 2,752 PJ of 3P reserves.
As previously announced Bow has reached an agreement to share exploration and production data with a number of CSG companies operating in the Bowen Basin. This has allowed data on adjacent Exploration Permits and Petroleum Leases to be extrapolated across permit and or lease boundaries. Based on the data from pilot production wells adjacent to Bow's Blackwater CSG field, along with Bow's previous core hole data, MHA Petroleum Consultants, Inc (MHA) have certified within the Rangal coal measures of Bow's Blackwater field (ATP 1025P) a further 89 PJ of 2P and 13 PJ of 3P. Several pilot production programs are in progress at Blackwater with 10 wells in various stages of dewatering. The aim of these programs is to test different well design and completion techniques to determine the optimal commercial production methods.
CEO, John De Stefani commented, "the new gas reserves at Blackwater follow on from our previous announcement regarding the recognition of the initial reserves at Norwich Park and are a further step towards achieving our goal from the current funded work programs of 1,250PJ 2P and 6,200PJ 3P reserves. Pilot programs are continuing on the Blackwater CSG Field with a series of pilot wells aimed at obtaining further reserve upgrades."
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