The company has a 100% interest in the field and has already secured a foundation contract with CS Energy from 2005.

However, the Petroleum Lease will cover an area of 66 km2 and contains an inferred gas resource of 455 billion cubic feet of gas. At an expected 50% recovery rate, this area is estimated to be able to produce 240 Petajoules of gas - significantly more than the 90 Petajoules required to supply CS Energy under the gas sales agreement.

QGC Managing Director Richard Cottee said the company is currently in negotiations with a number of potential customers to tie up the remaining production.

In further development of the field QGC has recently finished an expansion of the Berwyndale South pilot and will focus on optimising production from the eight pilot wells.

The remainder of 2003 will focus on the technical feasibility study, design, engineering and reserves certification necessary as a precursor to the full development of the field in 2004. The full field development in 2004 will comprise between 20 and 40 wells, depending on the flow rates achieved.

In May the company reached an initial agreement for a tie-in to the Roma to Brisbane pipeline and the original five well pilot was expanded to eight wells, with six wells pumping and two awaiting installation of high capacity pumps.