MPO 0.00% 14.0¢ molopo energy limited

certifications are out

  1. 2,866 Posts.

    BCF (Billion standard cubic feet)
    1P or Proved Volumes 14.9
    2P or Proved plus Probable 170.2
    3P or Proved plus Probable plus Possible 359.2
    Contingent Resources 166.2
    Note 1 Bscf appox 1.035 PJ
    The initial independent certification has been completed by Netherland, Sewell and Associates Inc
    (NSAI), a Dallas based company which conducts reserves certification exercises for both
    conventional hydrocarbons and unconventional gas such as CBM. NSAI has extensive experience
    and have provided independent reserves certification for most of the current CSM projects in
    Australia.
    The certification identifies a potential 525.4 BCF of recoverable gas (3P plus contingent resources)
    from a mapped volume of approximately 1600 BCF (1.6 TCF) of gas in place.
    The current exploration data, on which NSAI has based its assessment, covers only part of the
    Basin. As the exploration program is expanded, this should lead to additional areas being included
    in future reserves certification exercises.
    Lucas and Molopo currently estimate the overall Gas-in-Place potential for the Basin to be in the
    range 2.5-3.0 TCF. It is anticipated that a reserves upgrade will be announced in late 2008 or
    early 2009 once further exploration results are available and the production performance from the
    recently expanded pilot (five new production test wells) are known.
    This certification represents a significant milestone for the project and confirms its economic
    potential. CBM projects traditionally commence with relatively low levels of 2P certified reserves
    (often significantly lower than these levels) and increase significantly over time as greater
    production confidence and additional data coverage are obtained.
    157 Church Street
    PO Box 675
    Ryde NSW 2112
    Australia
    Tel + 61 2 9809 6866
    Fax + 61 2 9807 6088
    www.lucas.com.au
    ABN 12 060 309 104
    The reserves estimates used in this statement were compiled by Mr. Dan Paul Smith and Mr. John
    Hattner of NSAI and are consistent with the definitions of Proved, Probable and Possible
    hydrocarbon reserves defined in the ASX Listing Rules. Messrs Smith and Hattner are full-time
    employees of NSAI, are qualified persons as defined under the ASX Listing Rule 5.11 and have
    consented to the use of the reserves figures in this announcement.
    For further information, please contact Allan Campbell on 02 9809 6866.
    Allan Campbell
    Chairman & Chief Executive Officer
    About AJ Lucas Group Limited
    AJ Lucas is a leading provider of both specialist infrastructure and mining services. It is the leading supplier of drilling services to
    Australia’s coal and coal seam gas industries. It is also Australia’s largest builder of long distance gas pipelines. Other divisions
    provide gas management services to the coal and coal seam gas industry, construction, civil and property services.
 
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