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WESTSIDE CORPORATION LIMITED - ASX: WCL
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Description
WestSide Corporation Limited (ASX code: WCL) has interests in coal seam gas (CSG) projects in Queensland and Indonesia.
The Company is well positioned to take advantage of the potential value of its resources from marketing opportunities to downstream industrial applications and access to Australia’s domestic east coast gas market.
WestSide has interests in CSG projects in Queensland with an exploration and appraisal program currently underway at the Paranui and Tilbrook pilots in Queensland’s Bowen Basin, with a total of 211 Petajoules of Proved, Probable and Possible gas reserves certified in the initial pilot areas.
Exploration in two new exploration tenements in Queensland's Galilee Basin is expected to commence in 2010.
The Company is also assessing the CSG potential of coal deposits in Indonesia through its relationship with PT Bumi Resources TBK, one of Indonesia’s largest coal miners.
WestSide is in the process of acquiring the producing Dawson Seamgas gas fields in the Bowen Basin. The size of this company-transforming deal will become clearer in March 2010 when pre-emptive and participation rights of existing owners are settled.
Goals:
* Certification of 250 PJ of 2P and 1,000 PJ of 3P gas reserves in the near term
* Secure Petroleum Leases over Bowen Basin properties by mid 2010
* Expansion of CSG asset base
* Secure CSG permits at the Kaltim Prima Coal mine in Indonesia
Mine For
coal seam gas
Location of operation(s)
Queensland, Indonesia
Australian Basins
Bowen, Galilee
Address
Level 8, 300 Queen St
BRISBANE, QLD, AUSTRALIA
Phone
(61 7) 3020 0900
Website
http://www.westsidecorporation.com
Last Updated
25/06/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.