WestSide Raises Funds for its CSG Projects

WestSide Corporation announced that it has raised A$25.4 million for the development of its Queensland coal seam gas program.

The company said that the funds would be directed at maintaining and increasing gas production at Meridian SeamGas to supply existing and future customers and advancing joint venture  exploration programs within WestSide’s other Bowen Basin and Galilee Basin tenements.

WestSide operates the Meridian SeamGas CSG fields near Moura west of Gladstone in Queensland’s Bowen Basin. The Meridian gas fields comprise a range of CSG assets including a petroleum lease, gas rights in mining leases and gas compression and pipeline infrastructure connected to Queensland’s commercial gas network. WestSide holds a 51% interest in the fields with Mitsui E&P Australia Pty Ltd holding the remaining 49%.