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Ribolla CBM and Shale Gas update
Ribolla CBM and Shale Gas update.
About this update from Nativo Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7124F Independent Resources PLC 03 May 2011 \n \n\n \n \n \n \nIndependent Resources plc \n(\"IRG\" or \"the Company\")\n \nRibolla Basin Coal Bed Methane & Shale Gas Plays: \n \nCompletion of Independent Reviews and Commencement of Farm-Out Discussions\n \n \nHighlights\n \n· Original gas in place (OGIP) and gross prospective gas resources (GPGR) (Mean estimates) for the main coal seam, together with associated low-grade coal and organic matter-rich shale are, respectively, 15.2 and 4.5 billion cubic metres (BCM) (537 and 160 billion cubic feet (BCF));\n· An additional and promising 40-50m thick organic rich section has been identified, which remains under assessment;\n· Farm-out negotiations have commenced with a number of companies which have experience in optimising development of analogous unconventional gas projects and have indicated an interest in Ribolla. \n \n \nMay 3rd, 2011: The Company is pleased to announce that farm-out discussions are underway following the completion by DeGolyer and MacNaughton (D&M) of its three-month review and analysis of the technical data generated from IRG's wholly owned unconventional gas acreage located near Grosseto, Italy.\n \nD&M has presented its reports to the Company setting out its evaluation of IRG's unconventional gas resources occurring in association with coal and with organic matter-rich shales and marls of upper Miocene (Messinian) age (locally-named bagaglia) in the Ribolla Basin. The evaluation area includes two exploration licences, Fiume Bruna and Casoni, both awarded to Independent Energy Solutions (IES), a subsidiary of Independent Resources plc. D&M has conducted a review and analysis of the available technical data and has estimated OGIP and GPGR within these two licence areas. D&M has also made observations regarding the technical work performed thus far by IES and an assessment of technical factors, including various appraisal and development work programmes that may enhance the likelihood of achieving commercial gas production. \n \nD&M's reports feature prospective resources that have been estimated for coal and bagaglia intervals in the Fiume Bruna and Casoni blo...