Westside Corporation (ASX:WCL) CEO, Angus Karoll Speaks with Brian Carlton
Sydney, Mar 12, 2010 (ABN Newswire) - AUDIO: Westside Corporation (
ASX:WCL) CEO, Angus Karoll Speaks with Brian Carlton On Joint Venture with Mitsui LNG
Highlights:
- Enters significant Joint Venture agreement with Mitsui
- Queensland's first production CSG Gas Field
- Transformation of Westside to Major Producer of CSG as well as exploration
- Over 120 wells purchased in the deal
- Transformation of Westside from Explorer to Producer
- Mitsui has full participation in the value chain from upstream gas fields to receiving facilities in Japan
- Westside 51% in the JV and funding by coming to Market shortly with placement and rights issue
- Partnering with Arrow Energy and BG
- Contract with AGL for domestic supply to 2015, contract value AU$120 Million
- Queensland Nitrate Facility is adjacent to the tenements
- Excess pipline capacity
- Gas Resources exceeds combined resources of Bass Straight, Cooper Basin and Northwest Shelf
- Lifespan of Dawson to exceed 20 years
- Joint Venture allows leverage of adjacent tenements directly into the new infrastructure
- Investors can expect an expanded reserve and transformation from Explorer to Producer resulting in significant increase in cash flow
Audio Link:
http://www.abnnewswire/press/en/62439/Westside
Contact
WestSide Corporation Ltd
Angus Karoll Chairman and CEO
TEL: +61-7-3020-0900
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