Brisbane, Jan 23, 2009 AEST (ABN Newswire) - Carbon Energy Limited (ASX:CNX) is pleased to announce a significant increase to its coal resources in Queensland following completion of its recent drilling program and analysis of the drilling data to establish a coal resource to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves - JORC Code (2004 edition).
Carbon Energy's total resource at Bloodwood Creek has increased from 100 million tonnes to 296.9 million tonnes inferred resource, an increase of almost 200%. 144.9 million tonnes of this resource is in coal seams greater than 5m thick which are an optimal target for underground coal gasification.
This exceeds significantly the requirements of approximately 55Mt of in situ coal required to support a 1000 tonne per day ammonia plant at Bloodwood Creek, for 30 years.
About Carbon Energy Limited
Carbon Energy (ASX:CNX) (OTCMKTS:CNXAY) is building a gas business, utilising its unique keyseam technology.
The Company is committed to providing industrial gas users with an affordable and secure source of high quality feedstock, as gas prices remain strong, through increased demand across our key markets.
Carbon Energy is the only company to complete a full-lifecycle, commercial scalable underground gasification trial. The Company's keyseam technology has successfully accomplished all the recommendations outlined by the Queensland government's Independent Scientific Panel (ISP) which included intense, independent environmental scrutiny.
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