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Black Mountain gas project gets environmental nod

1 April 2022

ASX:BME

Jack Baker

Black Mountain Energy will complete all detailed seismic surveys for the Valhalla project after Western Australia’s Department of Mines, Industry Regulation and Safety deemed the detailed survey non-threatening to the region’s flora or ecological communities.

At the same time, an independent heritage survey with the land’s traditional owners also ensured there would be no impact on areas of cultural significance.

With approvals in hand, the upstream oil and gas company plans a sensitive approach in carrying out the survey – ensuring no harm comes to the iconically Australian Greater Bilby.

The timely project comes as gas storage levels remain significantly short of the five-year average for this time of year.

The Valhalla project holds an independent estimate of 11.8 trillion cubic feet of prospective gas in the Canning basin, one of the world’s largest undeveloped gas reservoirs.

Adjacent to three natural gas markets, Valhalla would form an essential cog for the state’s energy security while providing exports for thriving international demand.

BME’s Australian Stock Exchange-listed share price has risen 3.7 per cent today, trading at 14c (10:52 am UTC+ 8 hours).

COMPANY OVERVIEW

Black Mountain Energy (ASX: BME) is an energy and resources company focused on identifying, developing and operating projects in hydrocarbon-rich basins.

Our aim is to safely develop and commercialise unconventional oil and gas reservoirs in Australia. We are developing an unconventional drilling approach and forging a path for smarter natural gas extraction, unlocking Project Valhalla in WA’s Canning Basin to create a new natural gas resource.

With Black Mountain’s depth of experience in the United States, we are excited to bring our expertise to Australia, creating an industry leader in responsibly developed and environmentally conscious natural gas supply. We want Project Valhalla to create energy security, local employment opportunities and a leading cost advantage for WA’s manufacturing industry as we build Australia’s next great energy company.

The Black Mountain Energy team has more than 120 years of combined experience in developing unconventional energy assets and this allows us to operate strategically, responsibly and with agility.

COMPANY INFORMATION

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