I think 1 Bscf is roughly 1 PJ.
Download kennas's's's' .XLS file below - pretty sure i put the conversion factors on the bottom of the list.
..... havn't looked at INP - thought they were conventional only?
- could be worth a look.
Just trying to get a handle on INP's CSM worth.
http://www.proactiveinvestors.com.a...seam-gas-targets-with-agl-in-august-1855.html
AGL have taken 35% and 37.5% interest in PEL103 and PEL101.
What I really want to know is is there a rule of thumb for converting Bscf to PJ?
I think 1 Bscf is roughly 1 PJ.
Download kennas's's's' .XLS file below - pretty sure i put the conversion factors on the bottom of the list.
..... havn't looked at INP - thought they were conventional only?
- could be worth a look.
Any idea who the likely big players are that haven't already got themselves CSM positions?
the costs emerging for aspiring coal seam gas companies are “horrific”.
In dramatic contrasts to key competitors such as BG or Santos, Voelte has not spent a penny of Woodside money on coal seam gas. As a result he has nothing to lose with his outburst, but with a lifetime in the petroleum industry what Australia’s top “gas salesman” has to say cannot be easily ignored.
The key points in Voelte’s criticism of coal seam gas are technical and financial, starting with an observation that “the coal-seam guys are having a bit of difficulty with their economics.”
“What happened 18 months ago is that you had coal-seam euphoria,” he says. Some of that euphoria was created by “guys who knew what the game was”, and that game was to declare a large resource of coal seam gas “and get out”.
Those who sold, Voelte says, “were smart as hell”. “They got out and other people paid huge prices and now they’re trying to figure out how to make these plants work. And, what are they running into? They’re running into [questions such as] how do you drill this many wells and keep them all running?
“What in the hell do you do with the water? You have to treat the water, and while some is clean, some is saline, some has magnesium and manganese and its really going to be a high-cost disposal issue.
“Number three: they’re finding out you have to compress all this stuff when it comes out. There’s not a lot of pressure to get it down to Gladstone. What happens is that if you take a close look at the Santos environmental impact statement, and look at the efficiency of the plant, everybody first thought this is all methane, without any carbon dioxide exposure, that these are going to be low-cost plants to build for the emissions trading system. Aah … wrong.”
Voelte says a rating of efficiency (greenhouse emissions per tonne of LNG) shows a clear advantage for conventional natural gas over coal seam gas.
“This is not me talking,” he says. “This is if you go look at their environmental impact statements. There’s been a late flurry of the coal seam guys working with [Climate Change Minister] Penny Wong, and you heard [Queensland Premier] Anna Bligh say we may just except coal seam methane from the emissions trading scheme, which [laughs] ain’t going to happen.”
According to Voelte, coal seam projects have a problem with emissions that is far greater than the emissions issue facing the North-West Shelf. “Their permitting [cost] on a unit basis is going to be more than double on a unit basis, which is horrific.
“Then you have the problems of gathering the gas, and starting the plant, with talk of building a surge bottle, which means an underground reservoir to store gas and act as a regulator.”
Voelte’s powerful criticism, which continues on to the question of gas quality and the possible need to blend coal seam gas with conventional natural gas, raises questions that few people outside the world of gas have previously considered; and while they come with an admitted degree of bias, they are questions to be considered.
So what happened when the coal seam boom hit the Australian stockmarket? “In my opinion, euphoria happened. The smart guys got out, and now there are other guys hung with big deprecations and the quiet word is that they’re all struggling to make the economics work.”
Anyone noticed the great land grab going on in the Galilee Basin? ECU, WCL, COI, BUL.......can't think of anyone else, but there would be more.
Is ECU the most advanced? I have studied these old drills at Rocky Creek in detail. Anyone have any other leads in the Galilee. Is there anyone else with a drill down yet?
I am very interested, so post away! Thanks!
Fri, September 18, 2009
Golar LNG Energy has signed a Heads of Agreement (HoA) with Toyota Tsusho of JapanThe agreement covers the delivery of approximately 1.5 MMt/a of LNG to Toyota Tsusho over a 12 month period from 2014 to 2026, as well as the parties’ intention to discuss Toyota Tsusho’s potential acquisition of a minority equity interest in the project.
Golar chief executive officer Oscar Spieler commented “We are delighted to have reached this important milestone in the development of the Gladstone LNG Project. We look forward to building a strong and mutually beneficial relationship with Toyota Tsusho over the life of the project.”
Arrow managing director and chief executive officer Nick Davies said “Our plans to deliver the world’s first coal seam gas (CSG) to LNG project are firmly on track for late 2012.”
Mining magnate Clive Palmer has unveiled plans for one of the nation's biggest-ever resource projects in Central Queensland.
The $6.5 billion Galilee Basin thermal coal mine, railway and port development is expected to create more than 6000 jobs during its three-year construction phase and some 1500 jobs once operational, possibly in 2013.
Current modelling estimates show the combined average water production for the total CSG industry at around 75,000 ML per year (or equivalent to 0.15 Sydney Harbours), with a peak of less than 140,000 ML per year.
So as not to come across hypocritical as is the case with trading share market companies, back then these issues raised above I was unaware of. I am personally for minimising mining impact on the environment. Not holding coal seam gas companies.Surely at some stage in the future all the CSG companies proving up resources will be good value. The companies on my watch list all come off their highs in Sept. / Oct. 2009 and are still trending down. Some are beyond the exploration phase and are moving toward construction while others are still proving up reserves. Nevertheless if there is value in a substantial reserve of methane then so should the companies be recognised.
ALL power pollutes, ALL of it.So as not to come across hypocritical as is the case with trading share market companies, back then these issues raised above I was unaware of. I am personally for minimising mining impact on the environment. Not holding coal seam gas companies.
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