WestSide Spuds Meridian SeamGas Well
As operator of the Meridian SeamGas CSG gas fields, WestSide Corp. Limited on Thursday advised that drilling has commenced on the MER09X exploration well in PL 94 near Moura - maintaining the current reserve expansion program's momentum.
MER09X spudded at 18:15 hours on 11 May 2011 and is drilling ahead toward a target depth of 1,014 meters. The well will then be logged, tested and suspended as a future monitoring well.
This is the eleventh well in an exploration program designed to increase the Meridian SeamGas joint venture's gross proved and probable (2P) reserves by up to 200 petajoules.
The MER05 exploration well, which has been drilled to a depth of 702 meters, intersected the targeted Baralaba Coal Measures and Kaloola Formation with total net coal measured of 16.65 meters in line with expectations.
WestSide will issue regular updates as and when appropriate as the reserves expansion exploration program progresses.
WestSide Corp. Limited is an ASX-listed company with interests in coal seam gas (CSG) projects in Queensland and Indonesia. WestSide operates the Meridian SeamGas CSG fields west of Gladstone in Queensland's Bowen Basin. The Meridian SeamGas fields produce approximately 4 Petajoules of gas per year. WestSide holds a 51% interest in the fields with Mitsui E&P Australia Pty Ltd holding the remaining 49%.
Elsewhere in the Bowen Basin, WestSide is currently operating an exploration and appraisal program at the ATP 769P (Paranui) and ATP 688P (Tilbrook, Mount Saint Martin and Bald Hill) sites. WestSide holds a 50% interest in each area with QGC holding the other 50% in each case.
WestSide also has a position in the Galilee Basin (Queensland) with two new tenements (ATP 974 and 978) covering an area of over 14,000 sq kms. The Company expects to commence exploration activities in these tenements later this year, and is also assessing the CSG potential of certain coal deposits in Indonesia through its relationship with PT Bumi Resources TBK, one of Indonesia's largest coal miners.