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QUEENSLAND

Key Project Information
Land position: Mungi: 50km2
Harcourt: 158km2
Timmy: 212.75km2
Oak Park: 117km2
Working Interest:
FIELD/PROJECT TENEMENTS MOLOPO INTEREST
Mungi Gas Field PL94 North Sublease 67.1% in Sublease and 71.8% in reserves
Harcourt ATP 564P/PLA 210 67.1%
Harcourt North ATP 564P 67.1%
Mungi West ATP 564P 67.1%
Timmy PLA 447/ATP 602P 62.9%
Theodore South ATP 564P 67.1%
Lilyvale ATP 564P 67.1%
Oak Park ATP 564P 67.1%
Resource Type: Coalbed Methane (CBM)
Target: Bowen Basin
Partners: Mitsui E&P Australia
Stage of development: Exploration / Trial production

Molopo is continuing to progress its strategy for monetization of its Queensland gas assets, in line with its announcement in April 2011.  Lazard has been appointed as adviser.

Molopo's Queensland Assets principally comprise ATPs and a sublease covering a total of 1,370km2 (of which 1047km2 are prospective) in the Bowen Basin, Queensland, over eight project areas, and a proposed power station development.  The majority of reserves are located approximately 150km from Gladstone, on the east coast of Queensland.  The eight project areas can be split into three key geographic areas.

Bowen-Basin-Map.jpg

These are:

The Central Tenements comprising:

  • The Mungi Gas Field, Harcourt, Harcourt North and Mungi West project areas
    Relevant tenements: PL94 North Sublease, ATP 564P with the proposed Mungi West and Mungi South West PLAs, and PLA 210(1);

The Southern Tenements comprising:

  • Timmy and Theodore South project areas
    Relevant tenements: ATP 602P (Timmy), PLA 447(2), ATP 564P (Theodore South); and

The Northern Tenements comprising:

  • Lilyvale and Oak Park project areas
    Relevant tenements: ATP 564P, proposed Lilyvale PLA.

In addition, the Queensland Assets include a proposed 60W power station development at Moura as one potential commercialisation option for the gas.

Reserves

Gas - Bscf 1P 2P 3P Contingent Resource
Queensland 23 328 789 568

(1) An amendment to change one of the applicants, MMI to MEPAU, for PLA 210 was submitted to Queensland DEEDI in May 2011.

Page last updated: 17 Jan 2012