CSG

Metgasco to start CBM drilling program next month

NSW coal-bed methane company Metgasco has signed a contract for a CBM drilling program in PEL16 i...

Metgasco told the ASX today that Mitchell Drilling Contractors would use their Soilmec G-55 rig. The program would comprise five production test wells and one core hole to be drilled at South Casino from March to establish gas production rates.

Metgasco owns 100% of PEL16, located near the townships of Casino and Lismore in northern NSW, and estimates the permit could contain up to 1000 Petajoules of CBM in the Walloon coal measures that have proven to be prolific gas producers in Queensland. PEL16 is also prospective for conventional gas accumulations.

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