Brisbane, Mar 19, 2009 AEST (ABN Newswire) - Carbon Energy Limited (ASX:CNX)(PINK:CNXAF) today released further results of its drilling programme which has been in progress at Bloodwood Creek and Kogan. The latest analysis of the drilling data confirms a much greater than expected increase (+125%) to its total resource which has risen from 296.9 million tonnes to 668 million tonnes (indicated and inferred). 364 million tonnes of this resource is in coal seams greater than 5m thick which are an optimal target for underground coal gasification.
In commenting on this latest Coal Resource upgrade, Managing Director Mr Andrew Dash noted that it has exceeded target resource expectations of 500 million tonnes announced last year. "This highlights the size of the opportunity that Carbon Energy now has to monetise this huge resource as it pursues its strategy to enter the national markets for power generation and synthetic natural gas production" said Mr Dash.
About Carbon Energy Limited
Carbon Energy (ASX:CNX) (OTCMKTS:CNXAY) is building a gas business, utilising its unique keyseam technology.
The Company is committed to providing industrial gas users with an affordable and secure source of high quality feedstock, as gas prices remain strong, through increased demand across our key markets.
Carbon Energy is the only company to complete a full-lifecycle, commercial scalable underground gasification trial. The Company's keyseam technology has successfully accomplished all the recommendations outlined by the Queensland government's Independent Scientific Panel (ISP) which included intense, independent environmental scrutiny.
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