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Arrow Energy Limited (AOE) said its 90% owned subsidiary, Arrow Energy International Pte Ltd (“AEI”) and its partners, have been awarded two blocks in the Coal Bed Methane (“CBM”) IV bidding round in India by the Cabinet Committee on Economic Affairs (CCEA). The company said it believes the two blocks, Assam and Satpura, have high CBM resource potential with good opportunity for early commercialisation in the event of successful exploration and pilot testing. AEI (60% working interest) and Oil India (40%) have proposed a exploration and development program on the Assam Block located in north east India, consisting of drilling 15 core holes and two production wells in two years under Phase-I, and 30 production wells in the following two years under the Phase-II pilot drilling program. AEI (80% working interest) and Tata Power (20%) plan to drill 15 core holes and two pilot wells in two years at the Satpura Block under the proposed Phase-I exploration program and 21 pilot wells during the Phase-II program.

OceanaGold Corporation (OGC) has approved an additional exploration program at the Reefton goldfield and surrounding areas. The company said the exploration budget for the New Zealand project has increased by US$4.4 million for FY11 from the previous FY10 budget for exploration of US$2.8 million. OceanaGold said the increased exploration activities would focus on new drill programs targeting potential underground mining targets, a review of the Sam’s Creek project to examine the best strategic option to progress the deposit and an increase to technical staff for the exploration department.

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Resource Wrap by egoli