Dart Energy Limited (ASX: DTE) has reported results from the independent assessment of a significant resource for its Australian portfolio of coalbed methane (CBM) licenses.
Following the completion of the acquisition of Apollo Gas Limited (ASX: AZO) in January 2011, Dart Energy engaged MBA Petroleum Consultants Pty Ltd (MBA) to undertake an assessment of the coal bed methane resource within six of the seven licenses in the portfolio, being PELs 456, 459, 460, 461, 463, 464 in New South Wales, Australia.
Dart has previously reported contingent resource in PEL458 that was independently assessed by Netherland, Sewell and Associates Inc (NSAI). Both MBA and NSAI have undertaken their assessments using the Society of Petroleum Engineers' Petroleum Resources Management System.
The aggregate resource position for Dart's NSW portfolio as at 31 March 2011 is summarized as follows:
Category | As Of 3/31/11 (net Tcf) |
Best Estimate Gas-in-Place | 32.5 |
Prospective Resource | 12.3 |
1C Contingent Resource | 0.3 |
2C Contingent Resource | 0.5 |
3C Contingent Resource | 1.5 |
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