Studies Confirm Viability of Sunbird's Ibhubesi Gas Project

Southern Africa gas explorer and developer Sunbird Energy has announced that results from independent studies that evaluated options to develop the Ibhubesi Gas Project have confiemd confirmed that Sunbird’s planned Ibhubesi’s 1P Reserves of 210 Bcf is viable.

On 4 June 2013, Sunbird announced the completion of MHA’s Independent Reserves Assessment of the Ibhubesi Gas Project resulting in proven 1P Reserves of 210 Bcf and 2P Reserves of 540 Bcf.

The market assessment that was completed as part of the studies highlighted two specific market opportunities:

• Eskom is currently seeking to secure gas supply commencing from 2016 for the 1,300 MW Ankerlig Power Plant at Atlantis, 50km north of Cape Town.

• South Africa’s Department of Energy is currently running a process for procuring gasfired IPP’s as part of its initiatives to increase supply, with 474 MW of IPP gas-topower expected to be gazetted by Q4 2013.

Ibhubesi gas marketing discussions relating to these opportunities are progressing, Sunbird said.