GEV 2.50% 10.3¢ global energy ventures limited

EP455 GAS Prospective Resources

  1. 3,400 Posts.
    Microsoft Word - TTE 2014 Annual Report.docx

    Here is the announcement on 06 Feb 2014......AWE announced “Gross Prospective Gas Resources for EP455 of 2,393 billion scf”.(our 18.5% potential portion is 442,705,000 million cf if proven)
    Current price per cubic feet of gas is $5.37 USD as at June 2014/ approx. $4.80 AUD
    OVER 2.1 BILLION In ground value to TTE?? is this correct guys?

    Also Forbes magazine put this out saying we are headed to $8 - refer link below back in 2012
    http://www.forbes.com/sites/richardfinger/2012/07/22/were-headed-to-8-00-natural-gas/

    TTE annual report
    On 6 February 2014, AWE Limited (“AWE”) released an ASX announcement titled “Perth Basin independent resource estimate”” in which AWE announced “Gross Prospective Gas Resources for EP455 of 2,393 billion scf”. AWE noted that “further exploration and appraisal success would be required to demonstrate the commerciality of these resources and the viability of any future development”.

    Microsoft Word - TTE 2014 Annual Report.docx
    On 30 July 2014, AWE Limited announced their June Quarterly Activities Report which included the following appraisal of the Drover-1 well “In exploration permit EP455 (AWE 81.5%, Operator), the Drover–1 vertical exploration well reached its planned total depth of 2,356m and 5 1/2 inch production casing was set before the well was suspended in July. The target formations intersected were the Kockatea Shale, 787m, the Carynginia Shale, 257m, the Irwin River Coal Measures, 289m, and the High Cliff Sandstone, 14.5m. Two cores were cut providing 21.5m of sample from the Kockatea Shale and sidewall cores were taken in the most prospective intervals. Significant gas readings were observed during drilling of the Kockatea Shale and Carynginia Shale and log and core data from these intervals will be fully analysed and evaluated before deciding on the next phase of exploration activity. Gross drilling costs are estimated at $8 million.”.
    Last edited by Schumacher: 25/09/14
 
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