In late March, QGC reached agreement with Icon Energy Limited to buy Icon's 50% share in the permit for $1.5 million. QGC had already earned a 50% working interest through the drilling of the Berwyndale-1 and Berwyndale-2 wells last year.
ATP 632P covers an area of some 375 sq.km and is considered by QGC to be highly prospective for coalbed methane with an average coal thickness of 20 metres at a depth of 500 metres.
QGC said it estimates that ATP 632P contains a coalbed methane resource of 4.7 trillion cubic feet of gas. Assuming a 25% recovery factor, this equates to potential reserves of approximately 1080 petajoules.
The second of QGC's pilot developments is to be located at Berwyndale South in ATP 632P. Drilling of the first of the five wells in the pilot is expected to commence in early June.
The Berwyndale South pilot will access two blocks of ATP632P, which QGC estimates to contain a resource of 900 bcf of gas (equating to potential reserves of 210 petajoules at a 25% recovery factor).
Recently, QGC announced it had completed drilling the five wells in its first pilot development at Aberdeen in ATP 621P.
