Blue Energy Limited is pleased to announce a significant increase in Gas Reserves for the Company's 100%-owned ATP814P coal seam gas asset in the Bowen Basin, Queensland.
2P Reserves increase by 29% to 71 Pj (~12 million barrels oil equivalent)
3P Reserves increase by 49% to 298 Pj (~ 50 million barrels of oil equivalent)
Compound Annual Growth Rate in 3P Reserves of 67%
Blue fielding multiple requests from prospective gas buyers
This is a most pleasing result, achieving a Reserve upgrade in the current low oil price environment while many other Operators (globally) are seeing reductions in their reserves.