Presentation - Excellence in Oil and Gas Conference, Sydney
Sydney, Mar 21, 2012 AEST (ABN Newswire) - WestSide Corporation Limited (
ASX:WCL) Presentation - Excellence in Oil and Gas Conference, Sydney.
Highlights of Investment Activity.
Corporate
- CSG junior with production, significant 2P reserves and strong exploration upside
- Major JV partners (Mitsui E&P and QGC) and cornerstone shareholders (New Hope Corporation & Energy Infrastructure Trust)
Production & Location
- Operating established Meridian SeamGas business on QGP - 160km from Gladstone
- 10 TJ/d gross sales + commissioning 10 new wells - (3 achieved production rates > 600Mscf/d , including PP10 now @ 1,000 Mscf/d)
- Trialing innovative well designs & equipment to increase production efficiency
- Significant opportunity to ramp up production - supported by 258 PJ of 2P reserves (net to WCL)
- Cultural Heritage Investigation and Management Agreement in place at Meridian
New Environmental Authority for Meridian SeamGas Petroleum Lease PL 94 granted
Sales Contracts
- Existing contracts in place for up to 25 TJ/d to 2014-15 - $5.5m revenue (net) FY2011
- Gas swap now in place to help fill production gap and reduce remedy payments
- Progressing commercial negotiations with various parties - targeting new GSAs by December 2012
Exploration Upside- Bowen Basin - ATP 769P and ATP 688P (pilots + seismic to identify new targets)
- Galilee Basin - ATP 974P and ATP 978P (grassroots program)
Download the Presentation here:
http://media.abnnewswire.net/media/en/docs/ASX-WCL-240614.pdf
Contact
WestSide Corporation Limited
T: +61-7-3020-0900
F: +61-7-3020-0999
WWW: www.westsidecorporation.com
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