Background to the Company
Composite Energy was established as a private Company in July 2004 and is funded by Scottish private and institutional investors.
The Company was granted Licence PEDL 133 by the DTI in July 2004 and encouraging results from our initial research and development have led to a second phase of investment commencing in 2006 to establish the potential for gas production in the area.
Composite Energy believes that the introduction of our new drilling rigs into the UK, managed by our own people, is the best way to ensure safe, clean and quick operations. We have a Drillmec G55 rig in operation and anticipate the arrival of a second rig at the end of 2006 for phase 2 of our test programme.
It is our custom and intention, where possible, to encourage the use of local services and to provide local jobs and training.
Composite Energy intends to augment its resources by working with partners who, in the future, may provide assistance in enabling any gas production to be captured and delivered to local and national consumers.
It is Composite’s strategy to establish coalbed methane (CBM) as a successful source of new gas in the UK in a manner that meets the expectations of the communities within which we work. We seek to maintain an informative relationship with our Local Authorities and the agencies which monitor our activities.
The management team has many years experience in the UK and international energy business covering corporate, financial, engineering and drilling operations.