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Asian Activities Report for October 7, 2011: Blue Energy (ASX:BUL) Further Increase Coal Seam Gas Potential in Bowen Basin
Asian Activities Report for October 7, 2011: Blue Energy (ASX:BUL) Further Increase Coal Seam Gas Potential in Bowen Basin
Sydney, Oct 7, 2011 AEST (ABN Newswire) - Blue Energy Limited (ASX:BUL) has successfully drilled its Monslatt 9 coal seam gas well in Bowen Basin, Queensland, reporting high gas content of up to 25 cubic metres per tonne and thick coal seams of up to 4 metres. The results further reinforce the potential of the Monslatt Block as a significant gas resource. The Company is targeting 3,000 petajoules of 3P gas reserves by year end 2014.

CBD Energy Limited (ASX:CBD) has signed an agreement to acquire energy retailer Neighbourhood Energy. Neighbourhood Energy currently has 65,000 customers, focusing on the Victorian market. The acquisition will give CBD a platform for retail distribution of solar, wind and energy efficient products. This acquisition, along with CBD's alliance with two of China's largest renewable energy companies, will put CBD in a position to begin to challenge the larger participants in Australia's energy markets.

Energy World Corporation Limited (ASX:EWC) has signed a Memorandum of Understanding with the East Java Provincial Government in relation to the development and construction of a Liquefied Natural Gas Import Receiving Terminal and associated facilitates in East Java, Indonesia. The project is capable of processing up to 3 million tonnes per annum of liquefied natural gas, expected to solve the gas supply shortage in East Java.

TVN Corporation Limited (ASX:TVN) has revised its Exploration Target for the Target Resource Area in the south western portion of the Nuurst licence to 200-300 million tonnes of thermal coal. This Target Resource Area represents less than 15% of the Nuurst Coal Project Licence area in Mongolia. The Company intends to produce a JORC Mineral Resource estimate over the Target Resource Area by the end of the calendar year 2011.

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