Coal-seam gas prospects fire up
Posted by Big Gav in australia, coal seam gas
Robin Bromby at The Australian continues to follow the speculators favourite industry in recent years - coal seam gas - Coal-seam gas prospects fire up.
IT just keeps getting harder and harder to keep pace with what's going on in the resources sector. Take coal-seam gas. Developments are unfolding every day.
From just one week ago, in our Monday sister column Pure Speculation, we outlined the strategy at Red Sky Energy (ROG).
In short, this company’s plan is to pick up coal-seam gas prospects that others have so far ignored. And pick them up cheaply: with so many global players now getting involved in Queensland, all the prime areas are either under their control or have far too an expensive entry point.
Today ROG went one step further. It is acquiring another 23,000sq km of the section of Surat Basin that lies within northern NSW. There is potential, the company says, for the coal seams to host as much as 26 trillion cubic feet of CSG.
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