Australia: Arrow Releases Part of Bowen Tenure
Arrow Energy has relinquished 1029 km2 of its tenure over 24 properties east of Middlemount on Marlborough-Sarina Road in the Bowen Basin.
Arrow CEO Andrew Faulkner said the relinquishments were part of Arrow’s program of providing certainty to landholders where exploration had confirmed there was no commercially-viable gas.
“Arrow has been exploring the authority to prospect ATP759 area for a number of years to define the nature and extent of coal seam gas resources in the region,” Mr Faulkner said.
“This work has shown that some areas along the easterly margins of ATP759 have inadequate gas resource potential to justify subsequent development.
“We have notified the State Government of our intention to relinquish these areas, about 33 per cent of ATP759 and written to the landholders individually.
“Arrow will not require further access to these areas for gas exploration or development.
“Arrow still retains 8260 km2 of Bowen tenure which will form a crucial element of Arrow’s LNG project.”
ATP759 covers an area between the Fitzroy Developmental Road (or “Beef Road”), Marlborough-Sarina Road and May Downs Road.
LNG World News Staff, December 17, 2012