Share

Warrego Energy announce substantial shale gas resource in North Perth Basin and launch inaugural Warrego Award

Today (14.07.2011), Aberdeen-based Warrego Energy announce a potentially substantial shale gas resource within their licence block in Western Australia’s North Perth Basin.

The US Energy Institute Administration (EIA) report, ‘World Shale Gas Resources: An Initial Assessment of 14 Regions Outside the United States’, maps 48 prospective shale gas basins in 32 countries.  This reveals a  considerable prospective shale resource over the entire 224 km² of Licence EP469 which was won in a highly competitive tender by Warrego in 2008.

Dennis Donald, managing director of Warrego Energy says: “We are delighted the esteemed EIA has identified potentially substantial shale gas reserves in the North Perth Basin.  We can confirm our block sits squarely within the area mapped by the EIA.  The preliminary estimate for the Kockatea Shale may exceed  9 tcf (trillion cubic feet) in place over the Licence area.  Assuming a 30% recovery  factor, we estimate we can extract close to 3 tcf of gas with our proven expertise.  In today’s market, this adds billions of Australian dollars to the value of our block.  Since establishing Warrego in 2007, we have been certain of the vast potential of the North Perth Basin.  The EIA report has supplied independent recognition of this and more.

“We will continue to use local British talent to help unlock these reserves.  Today we launch our inaugural Warrego Award for SMEs working with innovative technology for business benefit.  We firmly believe our innate entrepreneurial spirit has driven our business forward in Australia.  We want to encourage fellow SMEs to play a role in the global energy mix.  A crucial factor in our success in the North Perth Basin has been the innovative application of technology in an economically and environmentally efficient way.”

Dennis concludes: “Although we are oil and gas men, we want to hear from any small or medium sized business, from any industry, in any country.  Entrepreneurship rarely respects geographical boundaries.  We believe creativity and ingenuity actually increase between industries, between sectors, between countries.  The Warrego Award provides a unique opportunity for collaboration and education across the barriers of ‘business as usual’.

“And today’s announcement is an unparalleled catalyst to local industry ingenuity.”

The Warrego Award is open to any SME with under 50 employees

• In any industrial or technological sector
• Who can submit an engaging 1000 word description, with supporting financial, scientific or engineering evidence, of how they are able to unlock environmental OR economic potential in the UK or Australia with their innovative product or process
• Entrants retain the right to intellectual property

Winners will receive:

• A prestigious Swan Quaich for twelve months
• Twelve months of personal coaching from a nominated director at Warrego Energy
• A complimentary table at the Award ceremony dinner

To enter, please visit www.warregoenergy.com

103 Views