Dart Estimates Up to 143 Tcf of European Shale

Australian-listed Dart Energy International has today announced that it may have access to up to 143 trillion cubic feet of shale gas over its European licences.

An independent assessment conducted on behalf of the company by Netherland Sewell & Associates, Inc (NSAI) has identified massive potential for shale in Europe for the Dart. These resources are held over 17 licences, with lowest estimates placing gas-in-place of 28.1 trillion cubic feet at the lowest case and 143 trillion cubic feet at the highest case. The best estimate of gas is 76 trillion cubic feet.

These potential shale resources are held in a number of countries and areas, including 14 licences in the UK, in the Midland Valley Graben, Chester Basin and Middlesborough Trough. The company also holds two shale licences in Germany, the Saxony 1 and 2 licences in the Lower Saxony Basin and another in Poland, the Milejow licence in the Lublin Basin.

In addition to the Milejow licence, Dart also has an option to participate in the Polish Szczawano licence, which is also prospective for shale.

"The initial assessment by NSAI highlights what we consider to be the substantial shale gas prospectivity embedded in Dart Energy International," CEO of Dart International, John McGoldrick, said.  

"Certainly, it confirms we have a diverse portfolio and sizeable position to start from, and as we have done with CBM, we plan over the coming years to progressively mature some of the resource from the current OGIP (original gas-in-place) position into contingent resource, and ultimately reserves."

The NSAI assessment also again confirmed the resources available for the British PEDL 133. The licence, which NSAI has assessed previously, remains unchanged with a best estimate of 0.7 trillion cubic feet (0.2 Tcf low case; 1.8 Tcf high case). Dart will take 0.4 trillion cubic feet of the best case estimate, and 0.1Tcf and 1.1 Tcf in the low and high cases respectively.