Australian junior eyes coalbed methane prospects in Botswana
JOHANNESBURG (miningweekly.com) – Sydney-listed energy exploration and development company Magnum Gas & Power, which boasts project areas in the central and northern regions of Botswana, has lauded coalbed methane (CBM) as the energy source offering the best value proposition for the State and the region.
While MD Trent Wheeler conceded that Botswana had a “significant and well known”, traditional coal resource, he believed it would remain a stranded asset until the infrastructure required to transport it to port was developed.
“CBM is a far better value proposition to traditional coal, not least of all because it is a flexible, clean fuel source that can can either be used as a gas, or can be converted to diesel or liquid natural gas.
“It can also be compressed and used as a feedstock for ammonium nitrate, which is extensively used in mining explosives in the region,” he commented, adding that the exploitation of this natural energy source could also be used to mitigate the region’s energy crisis.
Magnum currently held two project areas for CBM covering some 2 400 km2 as well as a large conventional petroleum exploration licence covering 24 000 km2.
The junior company had completed prefeasibility studies on its CBM prospects, which estimated gas-in-place of some 12.6-trillion cubic feet, with about 6.7-trillion cubic feet of that economically recoverable.
Wheeler noted that there were several “significant” peers bordering Magnum’s tenement, including Exxaro, Sasol Energy and Origin Energy, which would not only assist in qualifying the basin but would present various opportunities for downstream projects as the central basin projects matured.
The company was currently completing a share purchase plan and would continue to advance core drilling operations in its central operations.
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