SYDNEY GAS -

  1. 697 Posts.
    A couple of highlights from this morning's ASX announcement
    "Given the results that Sydney Gas has achieved to date, we have a very high confidence level in our technical and commercial model. So confident in fact, you may have read that we signed a $28 million project finance facility with Westpac on 5 September 2002 for the next phase of development.
    This will see the construction of a 40 million standard cubic feet of gas per day plant and the drilling of 40 production wells. We are attempting to bring the gas production plant online before the middle of next year. we will be receiving compressor quotes next week and should order the equipment in the next week or two. We are aiming to bring large quantities of gas on line next year.
    Our drilling programme is scheduled to start up in mid-October, subject to rig availability. The Camden gas project is now moving full speed ahead into full development."

 
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