Brisbane, Jan 31, 2012 (ABN Newswire) - WestSide Corporation Limited (
ASX:WCL) is pleased to provide a quarterly activities report for the period ended 31 December 2011.
HIGHLIGHTS
- Completed and connected remaining two of seven new dual-lateral well sets
- Drilled two new up-dip lateral wells and ready to pump the first
- Delivered 397,047 GJ of gas for gross revenue of A$1.27m
- Pretty Plains 10 achieved production highs of 800,000 scf/day
- Executed innovative gas swap agreement to provide access to third party gas
- Commenced drilling the second Galilee Basin grass roots exploration well
OPERATING HIGHLIGHTS
- Completed and connected remaining two of seven new dual lateral well sets for dewatering and gas production
- Completed the drilling of two up-dip lateral wells and commenced drilling a third
- Completed the first up-dip lateral ready to pump
- New well Pretty Plains 10 achieved a pre-peak production rate of 800,000 scf/day
- Three of the new dual-lateral wells have produced at over 600,000 scf/day
- Delivered net 397,047 GJ of gas for the quarter, generating gross revenues of A$1.27 million
- Executed Gas Swap Agreement to provide access to gas to assist in meeting Meridian's commitments to supply up to 25 TJ/day.
- Executed Gangulu Cultural Heritage and Management Agreement covering key areas of Meridian's operations
- Granted new Environmental Authority for PL 94
- Completed a major overhaul of the Hillview dehydration plant
- Commenced installing new production skids designed to automate wells and minimise greenhouse emissions
- Progressed Galilee Basin exploration drilling program with drilling started on the second well
- Subsequent to the end of the quarter:
- Continued commercial negotiations with various parties for the potential long term supply of gas to new customers.
- Commenced implementation of gas lift water pumping system trial to reduce the impact of fines on the commissioning of new production wells.
To view the complete WestSide Corporation Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-WCL-239231.pdf
ASX:WCL) is pleased to provide a quarterly activities report for the period ended 31 December 2011.HIGHLIGHTS
- Completed and connected remaining two of seven new dual-lateral well sets
- Drilled two new up-dip lateral wells and ready to pump the first
- Delivered 397,047 GJ of gas for gross revenue of A$1.27m
- Pretty Plains 10 achieved production highs of 800,000 scf/day
- Executed innovative gas swap agreement to provide access to third party gas
- Commenced drilling the second Galilee Basin grass roots exploration well
OPERATING HIGHLIGHTS
- Completed and connected remaining two of seven new dual lateral well sets for dewatering and gas production
- Completed the drilling of two up-dip lateral wells and commenced drilling a third
- Completed the first up-dip lateral ready to pump
- New well Pretty Plains 10 achieved a pre-peak production rate of 800,000 scf/day
- Three of the new dual-lateral wells have produced at over 600,000 scf/day
- Delivered net 397,047 GJ of gas for the quarter, generating gross revenues of A$1.27 million
- Executed Gas Swap Agreement to provide access to gas to assist in meeting Meridian's commitments to supply up to 25 TJ/day.
- Executed Gangulu Cultural Heritage and Management Agreement covering key areas of Meridian's operations
- Granted new Environmental Authority for PL 94
- Completed a major overhaul of the Hillview dehydration plant
- Commenced installing new production skids designed to automate wells and minimise greenhouse emissions
- Progressed Galilee Basin exploration drilling program with drilling started on the second well
- Subsequent to the end of the quarter:
- Continued commercial negotiations with various parties for the potential long term supply of gas to new customers.
- Commenced implementation of gas lift water pumping system trial to reduce the impact of fines on the commissioning of new production wells.
To view the complete WestSide Corporation Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-WCL-239231.pdf
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About WestSide Corporation Limited
WestSide Corporation Limited (ASX:WCL) is an ASX-listed company with interests in coal seam gas (CSG) projects in Queensland.
WestSide operates the Meridian SeamGas CSG fields west of Gladstone in Queensland's Bowen Basin. The Meridian gas fields comprise a range of CSG assets including a petroleum lease, gas rights in mining leases and gas compression and pipeline infrastructure connected to Queensland's commercial gas network. WestSide holds a 51% interest in the fields with Mitsui E&P Australia Pty Ltd holding the remaining 49%.
Elsewhere in the Bowen Basin, WestSide is currently operating an exploration and appraisal program at the ATP 769P (Paranui) and ATP 688P (Tilbrook and Mount Saint Martin) sites. WestSide holds a 25.5% interest in the tenements with Mitsui E&P Australia Pty Ltd, which has a 24.5 % interest in each, and QGC, which holds the other 50% in each case.
WestSide also has a 51% operating interest in two Galilee Basin (Queensland) tenements (ATP 974P and ATP 978P) covering an area of over 14,480 sq km, with Mitsui E&P Australia Pty Ltd holding the remaining 49% in each.
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