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Brisbane, April 13, 2010 (ABN Newswire) - Bow Energy Limited (
ASX:BOW) (PINK:BOWYF) are pleased to provide a progress report on the drilling program currently underway in the Norwich Park block (ATP 1031) located approximately 300 km north-west of Gladstone, Queensland.
Bow has completed the first core hole of an initial seven well 3P and 2P reserves delineation drilling program on the Norwich Park block located immediately south of Arrow Energy's (ASX:AOE) primary Bowen Basin project areas to be carried out over the course of calendar 2010. The primary targets are the Fort Cooper, Rangal and Moranbah Coal Measures similar to Arrow/AGL's CSG Projects.
The first well, VM-1, is a core hole test of the gas potential of the Vermont CSG Prospect located in the western part of the Norwich Park block targeting the Fort Cooper and Moranbah Coal Measures.
VM-1 has drilled to a total depth of 785 metres intersecting 52 metres of coal, comprising 27.4 metres from Fort Cooper coal measures and 24.6 metres from Moranbah coal measures.
Early gas desorption measurements indicate high gas contents. Cores bubbled gas at surface indicating good gas contents and indications of permeability. Subject to well conditions, permeability testing of these coal seams has commenced. Bow is currently revising reserve targets for the Norwich Park block.
Commenting on the result, Bows CEO Commercial Mr John De Stefani said that: "the Company was very encouraged by the initial hole at the Vermont project given the bright thick nature of a good portion of the coals and cores bubbling gas at surface. The nearby successful Arrow/AGL development and production project from these coal seams is seen as encouraging."
Summary of drilling results to date:
ASX:BOW) (PINK:BOWYF) are pleased to provide a progress report on the drilling program currently underway in the Norwich Park block (ATP 1031) located approximately 300 km north-west of Gladstone, Queensland.Bow has completed the first core hole of an initial seven well 3P and 2P reserves delineation drilling program on the Norwich Park block located immediately south of Arrow Energy's (
ASX:AOE) primary Bowen Basin project areas to be carried out over the course of calendar 2010. The primary targets are the Fort Cooper, Rangal and Moranbah Coal Measures similar to Arrow/AGL's CSG Projects.The first well, VM-1, is a core hole test of the gas potential of the Vermont CSG Prospect located in the western part of the Norwich Park block targeting the Fort Cooper and Moranbah Coal Measures.
VM-1 has drilled to a total depth of 785 metres intersecting 52 metres of coal, comprising 27.4 metres from Fort Cooper coal measures and 24.6 metres from Moranbah coal measures.
Early gas desorption measurements indicate high gas contents. Cores bubbled gas at surface indicating good gas contents and indications of permeability. Subject to well conditions, permeability testing of these coal seams has commenced. Bow is currently revising reserve targets for the Norwich Park block.
Commenting on the result, Bows CEO Commercial Mr John De Stefani said that: "the Company was very encouraged by the initial hole at the Vermont project given the bright thick nature of a good portion of the coals and cores bubbling gas at surface. The nearby successful Arrow/AGL development and production project from these coal seams is seen as encouraging."
Summary of drilling results to date:
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Well Spud Total Coal Coal Current Status
Date Intersected Depths
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VM-1 20/12/09 52 metres 161-760 Core drilling completed to
metres total depth of 785 metres.
Permeability testing to commence
over Fort Cooper and Moranbah
coal seams.
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VM-2 Estimated TBC TBC Next core hole following completion
15 April of permeability tests on VM-1.
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About Bow Energy Limited
Bow Energy Limited (ASX:BOW) (PINK:BOWYF) is an S&P ASX 200 All Australian Index and S&P ASX 300 Index Company. The company's primary business is the discovery and commercial production of Coal Seam Gas (CSG) and conventional oil fields, with projects in several of Australia's producing basins.
The company is focused on expanding its CSG reserves, with eight CSG projects located within the highly prospective Bowen and Surat Basins of Queensland, and developing production for domestic and export natural gas customers.
The company has GIP potential across its CSG projects of over 13.8 Tcf and to date has certified net gas reserves of 2,360 petajoules (PJ) of 3P and 114 PJ of 2P. A record drilling program is underway for 2010, targeting year-end reserves of 4,128 PJ of 3P and 455 PJ of 2P.
Bow is currently developing the Blackwater Power Project, Bow's 100% owned 30 megawatt power station near Blackwater, central Queensland, which is scheduled for commissioning by the end of the first quarter 2011.
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