Blue Energy Announces Maiden 2P Reserves for Queensland CSG Block

Blue Energy Limited has announced its maiden 2P gas reserves of 50 Petajoules (PJ) and a 140% increase in its 3P gas reserves to 180PJ in the company’s 100%-owned Sapphire Block in the Bowen Basin, Queensland.

Sapphire Block of ATP814P is located immediately adjacent to Arrow Energy’s Moranbah Gas Project which currently supplies gas to Townsville users but is also targeted to provide feed gas for Arrow Energy’s proposed LNG export facility in Gladstone.

The company said that it is continuing pilot testing operations within the Sapphire block aimed at further increasing the gas reserve base. 

“The improved Bowen Basin gas reserves position announced today follows the granting of two Maryborough Basin exploration permits  in Queensland to Blue Energy and its joint venture partner, Beach Energy,” Blue Energy said in a statement.

Last year, Blue Energy secured three large exploration blocks in the Queensland sector of the sparsely explored Georgina Basin, together with a fourth exploration block in the Carpentaria Basin in northern Queensland.