Fortune Oil announced material progress relating to its Liulin Coal Bed Methane (CBM) business:
Mr. Tee Kiam Poon, Chief Executive of Fortune Oil, commented:
“We are pleased with the progress we have made in 2012 at Liulin and especially as we are seeing commercial gas flow from our horizontal wells. The extension of the exploration period will enable us to complete the assessment of all the seams and the remaining areas of the block. Our focus continues to be on completing the development of Liulin and to achieve commercial production. We see the achievements at Luilin positioning the Company as a significant developer of unconventional gas, in line with China’s resource strategy, and pave the way for commercial gas sales and revenue generation for the Company.”
[mappress] LNG World News Staff, July 26, 2012