The company’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 has sourced three drilling rigs to complete these programs.
The long term lead items for Bow’s 100% Blackwater 30MW power station have been ordered and the approvals processes have commenced. The drilling programs and the power station are fully funded after capital raisings which have provided in excess of $95m.
Bow is currently in negotiations for a number of gas offtake agreements with potential customers and is targeting firm pathways to gas sales in excess of 30 PJ per annum by the end of 2010.
