Bow, Eastern Star face wet weather delays
Recent rainfall has affected the operations of two Aussie gas explorers in Queensland and Northern New South Wales. Bow Energy Limited (BOW) and Eastern Star Gas Limited (ESG) have both been faced with delays to their operations as they wait for flood waters to recede.
Bow Energy said that its 2010 exploration program would finally commence next week with the first of 52 wells planned.
Bow’s reserves targets for the end of 2010 are 2,750PJ of 3P and 450 PJ of 2P increasing from the current 1447 PJ of 3P and 55 PJ of 2P, the company said.
Meanwhile, Eastern Star Gas said that its drilling program in the Narrabri and Moree area of New South Wales wouldn’t recommence until towards the end of January as dirt roads have been impassable.
At the close Thursday, Bow Energy shares were trading at $1.415, while Eastern Star Gas shares were 91.5c.
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