Projects Overview

Australia

Queensland:
Venus Project

Botswana

Kalahari Basin:
Serowe CSG Project

Venus Project - Australia

Features of Serowe CSG Project – Republic of Botswana

  • Strata X Energy Ltd and Real Energy Ltd are the Preferred 50:50 Bidders for a highly prospective Surat Basin (Australia) Coal Seam Gas (CSG) tenement targeting Walloon coals.
  • The tenement is surrounded by major CSG producing tenements and covers 153 km2 approximately 9 km west of Miles, Queensland.
  • The tenement is located within 6 km of a gas pipeline connected to east coast gas markets offering the potential for early cash flows once the significant gas resources are progressively converted to reserves.

Project Venus is located within the main Walloon CSG fairway in the Surat Basin, Queensland. It is immediately adjacent to gas infrastructure and is prospective for CSG over its complete area of 153km2.  There are several previously drilled CSG and conventional wells located within and around the acreage that confirm this, including a fully cored well within PLR2019-1-11 which had coal seams with gas contents of up to 13 cubic metres per tonne.

Real and Strata-X will be forming a 50:50 joint venture for “Project Venus” where Real will be the administrative and commercial operator while Strata-X, at least for the initial phase to predictable reserves certification, will be the technical operator.  Mr Ron Prefontaine is the Executive Chairman of Strata-X and was the technical Director of Arrow Energy and founding Managing Director of Bow Energy, two ASX-listed CSG companies that were separately taken over in 2010 and 2011, respectively,  for a combined total of ~A$4 billion.

Once the permit is awarded, the joint venture plans to immediately commence a field program to prove commercial gas flows - a required precursor to predictable reserves certification.

More information on the Surat Basin can be found here: 
www.australiaminerals.gov.au/__data/assets/pdf_file/0003/47622/Queenslands-petroleum-and-coal-seam-gas-2017.pdf

Mr Prefontaine stated. “Having run successful exploration and reserves programs in the Walloon CSG fairway previously, I know what is required to convert the vast coal within PR2019-1-11 to gas reserves.  Once material reserves are proven, given the nearby pipeline and infrastructure, our goal is to fast track field development to create early cash flows.  We are planning to commence field work early in the second quarter of 2020 and our immediate focus will be to prove commercial gas flows which is a required precursor to predictable reserves certifications. In executing on this plan, Strata-X is very pleased to have Real as its partner”

Real Energy’s Managing Director Scott Brown added: “We are delighted that the Queensland Government has selected our Joint Venture as the preferred bidders for this block. It illustrates the quality of our tender and the confidence that the government recognise in our collective expertise we bring to developing this asset into another successful Queensland CSG field.  This is high quality gas acreage and we see tremendous potential of this significant gas acerage. We look forward to working collaboratively with Strata X to develop Project Venus.”

About Real Energy Corporation
Real Energy is an oil and gas company with a focus on the Cooper Basin, Australia’s most prolific onshore producing petroleum basin, and the Surat Basin in Queensland. Real Energy has 100% ownership in 2 large permits in Queensland – ATP 927P & ATP1194PA, and a 50:50 JV with Strata X Energy Limited (ASX: SXA) to develop the 153km2 PLR2019-1-11 permit in the Surat Basin as another Coal Seam Gas project.

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