Blue Energy (ASX: BUL) is a rapidly evolving energy exploration company strategically positioned with abundant coal seam gas (CSG) assets throughout Queensland to meet the rising demand for cleaner power.
Blue Energy has a vision to be Australia’s leading mid-sized coal seam gas exploration and production company with gas reserves in excess of 1 trillion cubic feet of gas within five years.
Blue Energy has developed an extensive CSG exploration portfolio, with an asset base of eight CSG operated petroleum exploration permits. Blue Energy also has interests in conventional assets in the Cooper/Eromanga Basin.
Blue Energy provides an update on Queensland drilling activities
Brisbane-based energy exploration company Blue Energy (ASX: BUL) has updated the market on its drilling activities in the Bowen and Galilee Basins in Queensland.
In a statement, the company announced the Monslatt 3 core well is at a depth of 546 metres and coring ahead in the primary objective Moranbah Coal Measures having set intermediate casing at 329 metres.
Chief Executive John Phillips said the well had intersected a total net coal thickness of 12 metres with initial field gas content up to 11 m3/tonne, with a proposed total depth of about 900 metres.
Meanwhile, the Lucas- Mitchell Rig 180 spudded the Stainburn Downs 1 corehole on 19 January 2010.
The well is currently at a depth of 908 metres and drilling ahead in the Triassic Rewan Formation toward an intermediate casing point of approximately 940 metres. Coring operations through the Permian Betts Creek Formation target will commence after intermediate casing has been set (expected late Sunday). Total depth for the well is expected to be approximately 1,220 metres.
