DRILLING

L&M has high hopes for NZ CSG

LISTED junior L&M Petroleum is quietly confident its coal seam gas appraisal program will result in small commercial power generation schemes and perhaps its CSG replacing imported gas in the energy-constrained South Island of New Zealand by early next decade.

L&M managing director John Bay told Australian energy analysts and brokers earlier this week that the results of the company's 2008 $NZ2 million (about $A1.62 million) initial CSG program had prompted...

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