NEW STANDARD ENERGY LIMITED - ASX: NSE

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

New Standard Energy (NSE) is an aggressive oil and gas developer. It has an active, well funded, disciplined exploration and drilling program underpinned and complemented by targeted corporate activity. In 2010 the Company has plans to drill seven wells, six in the United States and one in the Canning Basin.

NSE has a leveraged exposure to high risk, high reward frontier exploration projects in the onshore Canning Basin of Western Australia. The portfolio is split between large direct equity interests in a dominant acreage position and an indirect exposure to other parts of the Canning through a strategic 10% equity stake in ASX listed Buru Energy Ltd (ASX:BRU).

The Canning Basin portfolio is complemented by an interest in a low risk exploration and development project situated in Colorado County, Texas amongst the highly prolific onshore Gulf Coast region of southern USA. A new 3D seismic data set has been acquired for the Colorado County project and NSE will participate alongside its JV partners in drilling gas targets of varying sizes and risk profiles from late 2009 onwards.

Mine For

oil, gas, coal, tungsten

Location of operation(s)

Queensland, USA

Australian Basins

Canning

Address

Level 3 33 Richardson St
WEST PERTH, WA, AUSTRALIA

Phone

(08) 9481 7477

Email

Website

http://www.newstandard.com.au

Last Updated

19/5/2011