As the Ann below says that "Blue Energy is establishing itself at the forefront of the group of non-export LNG committed companies"
Folks, I thought Blue Energy were going to be exporting Gas to potentially Kor Gas or something, wouldn't that mean to internationally?
8c placement hey, well, I guess that would be the floor if there is one.
Wouldn't mind getting a long term parcel of these below 9c for the long haul yet what are other peoples thoughts on the above? Does this mean all this Gas only meant to service the Local QLD and/or Australian Market?
I do realise the Gov over here want this policy for a % of GAS to be reserved for non export and national security interests wish to keep it national development and use and that is fine, but what about these KorGas dudes and their agreements?
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1 April 2011
ASX ANNOUNCEMENT
INSTITUTIONAL PLACEMENT
Blue Energy Limited (ASX: BUL) advises that it has executed a private placement with three
institutional investors, to raise $6 million by the issue of 75 million ordinary fully paid shares, at
$0.08 per share.
Following the announcement on 1 March 2011 of a doubling of total discovered gas in place
(GIP) volume in Blue Energy’s Monslatt, Sapphire and Central Bowen Basin Blocks of
ATP814P to 7,018PJ and a 60% increase in 3C Contingent Resource to 2,063PJ of
recoverable gas, the Company is actively working towards the conversion to reserves.
Funding will be applied to establish economic gas flows from the Monslatt Block, and from the
Central and Sapphire Blocks of ATP814P, which if successful, should provide a significant
volume of gas for Blue Energy to market.
In addition to gas reserve targets in ATP814P, Blue Energy is establishing itself at the forefront
of the group of non-export LNG committed companies, with a targeted exploration programme
across its 21,0489km over 7 tenements across the two premier CSG producing basins
(Bowen and Surat Basins) in Queensland, plus the Galilee, Maryborough and Cooper/Eromanga Basins.
As a result of this Placement, Mathews Capital Partners Pty Ltd will become a Substantial
Shareholder in Blue Energy, above 5% of the issued capital.
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