Greenpower Energy
Greenpower Energy's (ASX: GPP) principal goal is the production of natural gas, coupled with the continued sustainable growth of the company’s assets.
Greenpower Energy delivers 306Mt maiden coal Resource in Latrobe Valley
Monday, January 30, 2012 by Angela Kean
Greenpower Energy (ASX: GPP) has defined an initial Inferred JORC Resource of 306 million tonnes of coal for the EL4500 permit in the Latrobe Valley of Victoria following the completion of a drilling program.
Resource modelling from drilling by former tenement holders previously determined a coal Resource of 101.93 million tonnes in the southeast part of EL4500.
This Resource definition work is part of Greenpower’s strategy for sustainable development of the Latrobe Valley lignite, otherwise known as brown coal. The company aims to use brown coal for production of liquid hydrocarbons.
Greenpower is currently in the process of completing plans for the introduction and adoption of technology which converts brown coal to API 37 synthetic crude oil, which is greenhouse gas neutral.
A total of 14 air core and rotary mud drill holes have been drilled in four exploration licences.
Five rotary mud holes have been drilled on EL4500, west of Moe. Two coreholes have been completed and coal has been submitted for analysis.
Four air core holes have been drilled on EL4860, north east of Morwell. This licence is subject to a joint venture with Magma Oil, a wholly owned subsidiary of Regal Resources. This work is funded by Regal under the terms of the joint venture agreement.
Two air core holes have been drilled on EL 4877, which is subject to a sale agreement with Australian Energy Company which funded the cost of drilling these holes. Greenpower has the right to earn back an interest in the northwest part of the permit.
Finally, three rotary mud holes were drilled in EL 5227, also west of Moe.
Greenpower’s interests in the permits are held via two wholly owned subsidiaries – Sawells (EL4877 and EL4860) and Greenpower Natural Gas (EL4500 and EL5227).
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