The deeper lignite seams within EL 4416, IER's wholly-owned exploration licence, that may not be mined economically, are prospective for huge amounts biogenic natural gas ('BNG'). A 9-well drilling program during 2007 and 2008 demonstrated the presence of permeable, gas-bearing lignite. Gas was produced to the surface (and flared), in sub-economic quantities, during an initial short-term test.
The Company requested MHA Petroleum Consultants to provide an independent assessment and estimate of the Contingent and Prospective coal gas resource over EL 4416. MHA estimated that, given the current data available, the P50 Contingent Resource is 3.7 trillion cubic feet (“TcF”) of recoverable natural gas. See the table below for more detail.
For more information regarding Biogenic Natural Gas please call the Onshore Natural Gas Infoline on 1800 337 877.
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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.