Skip to content
Finance Investment, Oil Mining Resources

Queensland Pacific Metals Ltd (ASX:QPM) Reports 2P Gas Reserves of 331.2PJ

Queensland Pacific Metals Ltd (ASX:QPM) < 1 mins read

Brisbane, Australia – April 29, 2024 – Queensland Pacific Metals Ltd (ASX: QPM), a leader in the development of natural gas resources, is thrilled to announce a substantial increase in its 2P gas reserves at the Moranbah Project. Following a newly completed independent assessment by Netherland, Sewell & Associates Inc., the company reports a 38% increase in 2P reserves, rising from 240PJ to an impressive 331.2PJ.

This significant update, which represents a net increase of 105PJ after accounting for production, solidifies QPM’s position as a key player in the Eastern Australian gas and electricity markets. Over 200PJ of these reserves remain uncontracted, offering QPM considerable flexibility to expand and meet growing energy demands.

Strategic Developments and Future Growth

In response to the reserve upgrade, QPM is aggressively moving forward with several strategic initiatives aimed at increasing gas production and supply capabilities. Key projects include:

  • New well development programs at Teviot Brook South.
  • Expansion of well workover programs to enhance field productivity.
  • Integration of additional mine waste gas supplies into existing infrastructure.
  • Collaborative efforts in the Northern Carbon Abatement Hub to foster sustainable practices.

QPM CEO David Wrench commented:

“We are very pleased with the results of our extensive well workover program which has re-invigorated the field and established a stable production base. This program has increased production and underpinned the significant reserve upgrade announced today. With over 200PJ of uncontracted gas reserves and a myriad of sales opportunities ahead of us, this is an exciting time for shareholders.”


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

Media

More from this category

  • Industrial Relations, Oil Mining Resources
  • 22/05/2024
  • 13:58
Mining and Energy Union

BHP suffers another defeat as OS Agreement rejected again

The Fair Work Commission has rejected another application by BHP for approval of an Enterprise Agreement to cover its production workforce. The Mining and Energy Union said the FWC decision, which found that the proposed Enterprise Agreement was not valid because it had not been explained properly to workers, was the latest in a string of legal defeats for BHP’s in-house labour hire operation. MEU Queensland President Mitch Hughes said the decision delivered late Tuesday was a further indication that BHP’s approach in setting up a subsidiary to provide itself with a cheaper workforce was flawed. “This decision further exposes…

  • Finance Investment, Oil Mining Resources
  • 22/05/2024
  • 10:21
Rincon Resources Limited (ASX: RCR)

Rincon Resources Limited (ASX: RCR) – Over-Subscribed A$5.6m Raising to Expand West Arunta Exploration

Perth, Western Australia - ASX listed minerals explorer, Rincon Resources Limited (ASX: RCR) ("Rincon" or "the Company") is pleased to announce the successful completion of an over-subscribed capital raising of A$5.6 million. The funds were raised through the placement of 56,000,000 fully paid ordinary shares at a price of $0.10 per share. This capital injection will primarily fund the expansion of exploration activities at the Company’s promising West Arunta Project in Western Australia. The placement attracted significant interest from institutional, professional, and sophisticated investors, along with continued support from existing shareholders. The shares were issued at the 10-day Volume Weighted…

  • Contains:
  • Finance Investment, Oil Mining Resources
  • 22/05/2024
  • 10:06
Zenith Minerals Limited (ASX:ZNC)

Zenith Minerals Limited (ASX:ZNC) – RC & AIRCORE DRILLING COMMENCED TO TEST GOLD & NICKEL TARGETS

Press Release: Zenith Minerals Announces Commencement of RC & Aircore Drilling at Hayes Hill to Test Promising Gold and Nickel Targets Perth, Australia – May 22, 2024 – Zenith Minerals Limited (ASX: ZNC), an Australian-based minerals exploration company, is pleased to announce that Reverse Circulation (RC) and Aircore drilling has commenced at the Hayes Hill Project, strategically located in the highly mineralized Norseman – Widgiemooltha area of Western Australia. This new drilling campaign aims to explore significant gold and nickel targets recently identified within the project area. Exciting Gold Prospects Between Major Mining Districts The Hayes Hill Project, positioned between…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.