Dart Energy: Shale Gas Estimate Up to 143 TCF (Australia)

Dart Energy International, the international operating arm of Dart Energy, iannounced an initial independent assessment of the Original Gas-in-Place for its portfolio of shale gas assets, of between 28.1 TCF (low case) to 143.0 TCF (high case), with a Best Estimate of 76.0 TCF net to Dart International.

As previously announced, Dart International has successfully executed a European entry and consolidation strategy, in the process establishing a portfolio of assets, either owned or under option, that represent a substantial and highly prospective shale gas portfolio spanning multiple European jurisdictions. In total, 17 of the licences currently in Dart International’s portfolio are considered prospective for shale gas. In addition, Dart International has an option to participate in the Poland Szczawano licence, which also has the potential for shale gas. Netherland Sewell & Associates, Inc (NSAI), a prominent, internationally recognised petroleum engineering consulting and certification firm, has undertaken an initial assessment of the shale gas potential within these areas:

NSAI has assessed undiscovered Original Gas-in-Place (OGIP) on these areas of between 28.1 TCF (low case) to 143.0 TCF (high case), with a Best Estimate of 76.0 TCF, net to Dart International.

NSAI had also previously assessed the Gross Prospective Resources on PEDL 133, which remains unchanged at 0.2 TCF (low case) to 1.8 TCF (high case), with a Best Estimate of 0.7 TCF. The net Prospective Gas Resource to Dart International is a range of 0.1 TCF (low case) to 1.1 TCF (high case) with a Best Estimate of 0.4 TCF.

Dart International Chief Executive Officer, John McGoldrick, said: “The initial assessment by NSAI highlights what we consider to be the substantial shale gas prospectivity embedded in Dart Energy International. Certainly, it confirms we have a diverse portfolio and sizeable position to start from, and as we have done with CBM, we plan over the coming years to progressively mature some of the resource from the current OGIP position into contingent resource, and ultimately reserves”.

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LNG World News Staff, May 10, 2012