Composite Energy Awarded UK Onshore Exploration Licences
Composite Energy Limited, the Stirling based specialist in the extraction of methane from deep coal seams is delighted to announce that it has been awarded 21 licence blocks in the 13th UK onshore licensing round. As part of the licence conditions Composite Energy has committed to drill 22 wells.
Keith Lough, Composite Energy's Chief Executive Officer, said:
"This is an excellent result for Composite Energy and the UK. Coalbed methane is a valuable clean energy resource and through this award we will be in a position to execute a very extensive exploration programme in Scotland, England and Wales using our own fleet of modern drilling rigs."
Composite Energy has been awarded licences in Scotland, England and Wales. Composite will have a 50% interest in each licence and is the designated Operator.
Composite Energy uses its own mobile drilling rigs to minimize our impact on the environment and to provide operational flexibility. The rigs are on-site for a relatively short period of time and the wellsites have a limited footprint.
Composite already holds licence PEDL 133, covering coalfields across a large area of the Central Belt of Scotland, where it is pioneering, in the UK, the extraction of coalbed methane from deep coal seams, where the coals are water saturated and considered to be unmineable.
View an enlarged version of the map of Great Britain in PDF format.
The BERR announcement can be found at this link: https://www.og.berr.gov.uk/upstream/licensing/onshore_13th/index.htm
For further information, please contact:
| Composite Energy Ltd | www.composite-energy.co.uk |
| Keith Lough, Chief Executive Officer | +44 (0) 1786 230200 |
| Aquila Financial Ltd | www.aquila-financial.com |
| Peter Reilly | +44 (0)118 979 4100 |
About Composite Energy
Composite Energy was founded in 2004 with a strategy of developing a Coal Bed Methane (CBM) industry in the UK and Europe.CBM is the same natural gas as is produced from the North Sea but it is trapped within coal seams. CBM has become a significant source of domestic gas in the US over the last 20 years and is growing in importance in Canada, Australia, China and India. In the UK, where North Sea gas fields are in steep decline and we face greater reliance on gas imports from Europe and elsewhere, CBM could provide a significant source of clean indigenous gas.
Funded privately, including direct investment from The Royal Bank of Scotland, Composite Energy has an experienced management team, strong partnerships, and a unique approach to developing a CBM business. Composite is actively pursuing plans to develop this indigenous source of energy in the UK and elsewhere in Europe.
The Company holds a licence, PEDL 133, covering coalfields across a large area within the Central Belt of Scotland. The CBM is at depths of 900 metres where the coals are water-saturated and considered unmineable. To allow the CBM to flow to the surface, the water in the coals has to be removed first.
Composite Energy uses its own mobile drilling rigs to minimize our impact on the environment and to provide operational flexibility. The rigs are on-site for a relatively short period of time and the wellsites have a limited footprint.
In March 2007, the company announced a research project to be conducted by Imperial College and Strathclyde University to evaluate the potential for injecting flue gas into the coals as a method of CO2 storage as well as enhancing the recovery of CBM. The study is co-funded by Composite Energy, BG Group, Scottish Power and The Royal Bank of Scotland.
With a strong emphasis on safeguarding the environment and working with local communities, Composite is building a substantial business to provide new choices for the energy industry in the UK and Europe.
