Australia: Blue Energy Updates on Stagmount 1 Exploration Well

Blue Energy provided a weekly update report with respect to the drilling of the company’s Stagmount 1 exploration well in ATP813P, Galilee Basin, Central Queensland.

Stagmount 1 is the first well in a two well program to be drilled in the permit this year.

The primary objective of the well is to increase the resource potential of the permit with the two- well program estimated to potentially add up to 500 Petajoules (PJ) of Contingent Gas Resource to the currently assessed resource base in the wholly-owned Blue Energy permit. To achieve this objective, continuous core will be obtained through the Betts Creek Beds in Stagmount 1 to assess the thickness, gas content and quality of coals within the formation.

The Stagmount 1 exploration well is located in Blue Energy’s 100% owned ATP813P in the Galilee Basin of central Queensland. The well is situated approximately 40 kilometres north of the town of Aramac.

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LNG World News Staff, November 27, 2013; Image: Blue Energy