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Black Mountain shows gas compatibility

28 April 2022

ASX:BME

Staff Reporter

Black Mountain Energy confirmed gas from Valhalla is suitable to blend for conversion to in-demand LNG from a completed study on the Canning Basin project in Western Australia.

Now proven capable of locking into the Dampier-Bunbury pipeline powering the state, the energy explorer claim a milestone and grow confidence in domestic and export options for its massive resource.

Export exemption and environmental approvals in-hand, Valhalla holds a goal of producing minimum 200-600 terajoules a day from an independently estimated 11.8 trillion cubic feet of prospective gas.

The Canning Basin stands as of the world’s largest undeveloped gas reservoirs and lies adjacent to three natural gas markets to shore up energy security for a state ramping up exploration.

Natural gas sits in high demand, solidifying year-on-year gains of 152 per cent from pipeline freeze-offs and Russian ruble demands adding to global requirements.

The company will meanwhile continue discussions with potential offtake partners and pipeline operators.

BME’s Australian Stock Exchange-listed share price has risen 3.33 per cent today, selling at 16c (10.40 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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