The ABC has a report om the latest find of coal seam gas in Australia, with Bow Energy claiming a 3 tcf find and hoping to sell it for export as LNG as well as using it in a local power station - Energy firm finds 20yr gas reserve.
A Queensland energy company says it has found enormous reserves of coal seam gas in the Bowen Basin in the state's Central Highlands. Bow Energy says it has identified three trillion cubic feet of gas in the Blackwater area east of Emerald, enough for at least 20 years.
The company says it will start work later this year on a power station to feed electricity into the national grid. Chief executive John De Stefani says it is building a gas-fired power station at Blackwater that should start operating early next year. "There's sufficient capacity in that region for that power. It will go into the grid," he said. ...
Mr De Stefani says the company also hopes to sell gas to proposed LNG plants in Gladstone.
The Australian reports that rumours about a Woodside takeover of Santos are being downplayed by the companies involved -
Santos and Woodside deny takeover offer.
SPECULATION that oil and gas giant Woodside Petroleum has made a $15 billion bid for gas firm Santos has been dismissed by both companies.
Shares in Santos spiked in early trading yesterday following rumours Woodside had approached it, but the stock stabilised after the pair denied the reports.
Analysts said investors had bought into the scuttlebutt because there was heightened interest in the coal-seam gas sector following the $3.44bn bid for Arrow Energy by BG Group and PetroChina.
Woodside chief executive Don Voelte yesterday said the company did not normally comment on market rumours but said there was "nothing to it" in relation to the takeover speculation.
Adelaide-based Santos was forced to deny the rumours after it received a "speeding ticket" from the Australian Securities Exchange, requesting an explanation for a run on its shares