The deeper lignite seams within EL 4416, IER's wholly-owned exploration licence, that may not be mined economically, are prospective for huge amounts of biogenic natural gas ('BNG'). A 9-well drilling program during 2007 and 2008 demonstrated the presence of permeable, gas-bearing lignite seams. During an initial short-term testing program, gas was produced to the surface in sub-economic quantities.
IER recently engaged a specialist company to conduct a thorough review of available reservoir and geological data of the Gippsland Basin lignite seams. Their preliminary analysis suggests that the Gas Initially In Place ('GIIP'), in the un-mineable lignite seams, could be in the range of 6 to 35 trillion cubic feet ('TCF').
The deeper lignite seams within EL 4416 contain biogenic natural gas, which is created by microbial activity within the lower-rank coal. In general, biogenic natural gas:
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Ignite Energy Resources Limited ('IER') is an Australian-based company focused on developing Exploration Licence 4416 ('EL 4416') and Exploration Licence Application 4968 ('ELA 4968'). EL 4416 contains extensive biogenic natural gas (BNG) and lignite (brown coal) resources, while both EL 4416 and EL 4968 are prospective for world-class heavy mineral sands deposits.