Of this figure, 21PJ (22Bcf) is classified as proved (1P) reserves, the Sydney-based company said.
The area covered by these reserves represents less than 1% of the area underlain by prospective coal measures in PEL 238, according to Eastern Star.
Executive director of operations David Casey said the certified reserves were in line with the company’s expectations of achieving “at least 50 petajoules of 2P gas” by the end of September.
“Eastern Star’s ongoing target is to progressively increase the independently certified gas reserves within PEL 238 during the next two years to 600 petajoules [630Bcf] by the end of 2009 to be able to deliver into the potential Macquarie Generation contract,” he said.
“It is expected that increases in gas reserves will be achieved progressively as performance data become available from this work.”
In March this year, Eastern Star and joint venture partner Gastar executed a memorandum of understanding for the supply of potentially up to 500PJ [525Bcf] of gas to the NSW Government-owned electricity generator Macquarie Generation for use at the Bayswater Power Station.
The Bohena Project Area covers 265 square kilometres of the total 9100sq.km of PEL 238.
