This upgrade represents a 32% increase in 2P reserves at the Surat Basin, Queensland field and promises to test the war chest of Arrow Energy which is exchanging bids and counterbids for Pure with Britain's BG Group.
The new reserves results are based on recent drilling and testing results from pilot wells Cameron-28 and Cameron-29, which represent the final two pilot wells in the current phase of the certification campaign.
Pure managing director Steve Beardsall said together with the recent reserve certification in Bowen Basin permit ATP 806P, the company's total certified reserves and contingent resources now include 522 in 2P reserves; 2510PJ in 3P reserves including 1279PJ in ATP 852P; and 5649 in contingent resources including 636PJ in ATP 852P.
"This upgrade at the Cameron field confirms the development potential moving north in the permit, and provided further encouragement for converting our contingent resource and 3P reserve base into 2P reserves in the near future," Beardsall said.
Pure says coring operations will now continue at Cameron-31, 32, 33 and 34 in the northwest of the permit with the objective to assess the potential of reserves in the area currently defined as contingent resources.
