Quarterly Activities Report
Perth, Oct 21, 2013 AEST (ABN Newswire) - WestSide Corporation Limited (
ASX:WCL) report the September quarter Meridian gas sales revenue net to WestSide of $1.9 million up 12% on the June quarter.
Gas production and sales volumes net to WestSide from the Meridian field (excluding fuel gas) were up more than 17% on the June quarter at 506 TJ and 517 TJ respectively.
There were no recordable injuries and no environmental incidents or high hazard events during the period.
Appointment of new CEO Mike Hughes with extensive international development and production experience and experience within Queensland's emerging export CSG to LNG industry.
Recommendations by external technical specialists being implemented to lift field performance - two wells producing at rates consistently in excess of 1 mmcfd
Independent validation report on the Meridian SeamGas field development plan has increased confidence in the capacity of the business to supply increasing production volumes into new gas sales contracts.
Subsequent to the end of the quarter Westside raised $8 million via placement with a further $2 million to be raised via an associated Share Purchase Plan (SPP).
To view the quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-WCL-762257.pdf
Contact
WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com
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